Kingdom of the Netherlands to adopt TRON as legal tender

On January 24, Justin Sun, founder of TRON, announced Saint Martin has expressed its desire to adopt TRON which is in line with TRON’s goals of global mass adoption.

  • Saint Maarten plans to adopt TRON.
  • TRX price drops by 3.31%
  • The price is expected to peak by the second quarter of 2023. Could possibly shoot up to $0.0973.

Saint Maarten, also known as Saint Maarten, is one. Country Located in the kingdom of The Netherlands In the Lesser Antilles, northeastern Caribbean Sea.

TRONImage: Zipmex

Decentralization, the name of the game

TRON (TRX) refers to a decentralized open source blockchain network that allows users to seamlessly connect with each other while giving them access to a variety of entertainment applications including graphics, videos and games.

Basically, decentralization remains the focus of the TRON project to facilitate the easy transfer of money between users without the intervention of financial companies or middlemen.

The contrasting element is mainly in the TRX unique architecture, as it is dispersed in three categories or layers:

  • The storage layer consists of distributed block storage.
  • The application layer that is activated by developers to create dApps that are used to issue tokens
  • The core layer that consists of various modules and smart contracts.

These different layers are interconnected using a protocol that is compatible with many programming languages.

Furthermore, the network has also created its own community which is promoted towards the goal of accelerating the decentralization of the Internet with the use of blockchain and DAPPs.

On December 27, the TRX community joined the Enterprise Ethereum Alliance (EEA) bandwagon, which is set to promote best practices with the use of Ethereum blockchain technology, enabling real-world applications and processes.

TRON as legal tender; Social volume up

With St. Maarten’s announcement to adopt TRON as legal tender, its native token responded accordingly with metrics looking positive.

TRX’s social volume increased indicating its growing popularity. Moreover, TRX also exhibited increased demand in the futures market with its Binance funding rate skyrocketing.

TRX total market cap at $5.5 billion on the daily chart | Chart:

However, there has been a slowdown in network development activities as seen in the last few days which may cause problems for the network. According to CoinMarketCap, TRX price has been seen retreating by 3.31%. As of this writing, the token is trading at $0.06068.

Clearly, investors have a lot to be happy about TRX with TRX looking to rise over the next couple of days as seen in recent market indicators, with the crypto peaking in Q2 2023 or With the maximum reaching $0.0973.

With St. Maarten’s cooperation with TRON, the latter enters a comprehensive and extensive global network that can further boost the island nation’s economy.

Featured image from World Atlas

#Kingdom #Netherlands #adopt #TRON #legal #tender

Leave a Reply

Your email address will not be published. Required fields are marked *