Unconfirmed – Tron’s Mysterious Multi-billion Dollar Worth Partner Is Baidu
Two days back we had mentioned that Justin Sun, founder of blockchain network TRON and CEO of Tron Foundation, has cued about an upcoming partnership with a firm worth “tens of billions of dollars.” In this regard, unconfirmed reports indicate that Tron (TRX) has partnered with Baidu, China’s largest internet search provider. The information was first announced by Coinness through a tweet, quoting its private communication with Tron’s team.
At the time of writing this article, neither TRON nor Baidu have confirmed the partnership officially. Coinness, without providing further details regarding the nature of partnership, has claimed that the mega deal between Tron, the blockchain network, and internet giant Baidu will be “officially” proclaimed by Baidu as early as “next week.”
Notably, there is no independent verification of Tron’s correspondence with Coinness regarding the partnership deal. For the second time in October Justin Sun, the founder of Tron, has issued such a critical message about the blockchain network. Earlier on October 8, Sun intimated that the Tron’s network would surpass Ethereum (ETH) on transaction speed and EOS on transaction charges, triggering an 8% run up in the asset’s value.
In July 2017, Tron Foundation was set up in Singapore. The blockchain network’s open source protocol was unveiled in December 2017. The company, with headquarters at Beijing and San Francisco, has a team of over 100 employees working across the world. Some of those employees are officially employed by China’s Internet giants such as Alibaba Baidu and Tencent.
Notably, in late September, Tron revealed its plan for the recently acquired torrent client BitTorrent. According to the plan, Tron’s blockchain will be integrated with BitTorrent platform under the “Project Atlas.” That will enable users of BitTorrent to receive rewards in the TRX tokens for seeding torrent files.
The Tron team told https://t.co/reZ2fjHrZq that a partnership had been confirmed between Tron and China's IT giant Baidu, which will be officially revealed by Baidu Cloud next week.
— Coinness – Real-time Crypto Market Index and News (@coinness) October 12, 2018
In early August, Baidu joined hands with Tencent and Alibaba in implementing China’s blanket ban on cryptocurrencies. Baidu took at least two popular crypto-related forums offline, with a notice to the forum users that Baidu’s decisions are in accordance with the “relevant laws, regulations and policies.”
This was followed by the release of Blockchain White Paper V1.0 on September 26. The white paper describes Baidu’s aim to establish “the independent development of the ‘Super Chain’ network system.”
With a market cap of $1.62 billion, Tron currently occupies the eleventh place in the ranking list of cryptocurrencies by market capitalization. Earlier in June, Tron celebrated its “Independence Day,” when it shifted from the popular Ethereum (ETH) blockchain to its own public blockchain network.
At the time of writing this article, Tron is trading at $0.02457, up 3.76% from the prior close. On January 5, the coin recorded its all-time high price of $0.217.