Presenting these numbers, Justin Sun’s Tron is the second blockchain in terms of bitcoin ownership – forming a respect podium with other projects.
Justin Sun posted this on his Twitter: TRON’s blockchain allocates 3000 bitcoins (BTC), which have a current cumulative value of $ 30 million, making it the second blockchain with the highest number of BTCs.
— Justin Sun🌞 (@justinsuntron) October 10, 2020
Just last month, Justin himself announced that wBTC and wETH would soon arrive on TRON’s blockchain thanks to BitGo, bringing assets to a blockchain more scalable than the original.
And today, a month later, there is a smart contract where 3000 bitcoins are in possession of 973 different addresses at the time of writing this article.
Interestingly, these bitcoins are already available on the decentralized exchange JustSwap and therefore, anyone can exchange any token with BTC in a completely decentralized and anonymous way.
It is not yet clear how to transfer tokens from this blockchain to that of bitcoin and it may be necessary to use Poloniex to act as an intermediary between the two blockchains. Another possibility is for a dedicated platform to be created where BTCs could be taken from that blockchain, as in the case of tokens pBTC found in EOS and Ethereum.
In addition, with this smart contract, TRON’s blockchain ranks second among all blockchains offering this type of asset. In fact, first is the Ethereum network with wBTC corresponding to more than 95,000 BTCs – worth more than one billion dollars.
In third place we have the Lightning Network with just over 1000 BTCs (about 12 million dollars), demonstrating how the other blockchains have benefited from the slowness and difficulty of this protocol to attract capital.
Bitcoin in TRON as a form of investment
In fact, it is clear that BTC is now seen as a store of value, rather than a payment system. While this can be considered a failure compared to Satoshi Nakamoto’s original intentions, Bitcoin has also become an investment opportunity.
For this reason, little by little, BTC has been used as collateral by several stablecoins, such as DAI in the Ethereum network or EOSDT at EOS, as well as for the creation of liquidity pools.