Justin Sun laid out a new TRON DeFi plan which looks similar to the one of Ethereum’s, at least that was the commentary after the LA Blockchain summit today. Following our TRON news, we can see that Sun made the case for the users and developers to migrate to the TRON blockchain while trying to replicate Ethereum’s DeFi ecosystem.
Justin Sun, the creator of the TRON blockchain, made the case that ETH users and developers have to switch to Tron. During his speech at the LA Blockchain Summit today, he contended that TRON is a better blockchain for the Decentralized finance space, which right now lives on Ethereum:
“We are creating the same kind of DeFi ecosystem as Ethereum. All the Ethereum network products, you can see the same version of Tron products. For example, the MakerDAO on Tron is called JustStable, created by the JUST team. And UniSwap is called JustSwap.”
The success of this project as Justin Sun laid out was the superior scalability and the low transaction costs which make the suite of decentralized finance tools like collateralized loans to interest-bearing accounts, much more accessible not only for DeFi devotees but also for users from the developing world. Tron’s whitepaper contends that the blockchain network’s delegated proof of stake system can handle up to 2000 transactions, which is more than Ethereum’s 15. The whitepaper also come under scrutiny for plagiarization, rendering the balance of speed and Tron’s security as well.
Despite the controversies, Sun approached Defi in the same way, by lifting the most popular aspects. Sun also pointed out to direct counterparts of Tron for AAve and Compound which are protocols that leverage the ETH blockchain. Looking from a marketing point of view, Sun’s ETH metaphors make sense so instead of creating a new vocabulary, he pointed out examples of used products. The sentiment tracks as well regardless of the accuracy as it claims that it has all the fun things without the fees of Ethereum.
As for whether it will become moot once ETH 2.0 is release, Sun downplayed the impact and said:
“If you are a developer, you don’t even need to wait for Eth 2.0. I don’t even know when they’re going to accomplish it. You can just move to Tron network.”
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