CoinGate adds support for TRON payments for merchants


Bitcoin and cryptocurrency payment company CoinGate has announced the addition support for TRON payments for its merchant users. As blockchain-based technologies grow, the CoinGate team believes the TRX coin might as well become a commonly used payment option on its gateway. Recognizing that, the CoinGate system now provides a way to spend TRX cryptocurrency at more than 4,500 online vendors.

Coingatedecided to add TRX because of the increasing adoption of blockchain technology and the developments made by the Tron Foundation.

Even though the TRON mainnet launched as recently as May 2018, it has already left a significant mark in the blockchain space. Led by the renowned founder Justin Sun, TRON demonstrates huge ambitions towards rebuilding the World Wide Web as we know it.

Resembling Ethereum, TRON provides the ability to build smart contracts with Solidity, issue custom tokens and deploy decentralized apps on top of TRON’s network. All these tools allow building a huge variety of businesses and applications, including social media and retail networks, publishing platforms, online stores, peer-to-peer video streaming and pretty much anything else that currently exists on the Internet.

TRON strives to surpass its direct rival Ethereum by providing more effective scalability solutions. Supposedly, the TRON blockchain is able of processing 2,000 transactions per second (TPS). For comparison, the current Ethereum network capacity is 15 TPS, though the most recent developments might soon change that.

For such a network to scale, an enormous amount of mining resources would be required. However, TRON is secured by the Proof-of-Stake rather than Proof-of-Work, and does not require that much power to function effectively and securely. As a result, any attempt to alter, delete or demonetize content published on TRON would be impossible as all the data is permanently stored on the blockchain – at least before usage of the network grows significantly enough to shed light on shortcomings of its PoS consensus.

With all of these in mind, this is a great sign for the future of TRON. Hopefully, TRON, as well as all the cryptocurrencies that create a positive impact in the industry, will eventually gain enough traction to become widespread. As a bridge between crypto users and merchants, we are excited to accelerate the adoption of digital currencies by joining forces and combining technologies that benefit each other.

 

 


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Edith Muth

Edith Yue is CryptoMeNow's analyst. She loves to do intensive research on how blockchain will make an impact in our society. You can contact Edith at Edith@cryptomenow.com

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