Justin Sun the founder of Tron (TRX) is known as an eccentric personality that likes to build hype when making big announcements on Twitter. This latest hype was almost as shocking as when he announced that TRON had purchased torrenting service BitTorrent.
Justin Sun cryptic tweet raised the hype last Friday
This trend continued last Friday when he tweeted a potential partnership with a company worth billions of dollars. This made the crypto community enter a frenzy with many speculating which company was the mysterious company.
Several names were touted by analysts until many came to a conclusion that the secret company was most likely Baidu. The Chinese search engine is one of the biggest companies in the world holding the largest share in China.
The thought of such partnership naturally led to crypto enthusiasts debating the benefits and what this could mean for the TRX.
However, it became clear some few days to the official announcement that the partnership would be limited to Tron transacting for Baidu’s cloud computing service. Furthermore, the official confirmation on Twitter corroborated the news of the scope of the partnership.
According to the official announcement, Tron was partnering with Baidu to develop a wider cloud service which aims at providing advanced blockchain products.
Verdict: In reality, this is not a partnership
In reality, Tron is essentially a customer to Baidu as according to the terms of the partnership Baidu Cloud service is working with Tron’s Wave Field technology in only basic cloud business field.
The news was welcomed by the crypto community that sees it as a step in the right direction towards the adoption of cryptocurrencies. Tron not only gains a valuable name to add to its portfolio the coin would also get the steadiness and trust that comes with partnering with a billion dollar company.
However, despite boosting Tron’s profile the partnership is underwhelming in some way as Baidu would not be integrating Tron’s blockchain products, which had been widely claimed by TRX community. Baidu had recently revealed its plans on developing its blockchain.
Nevertheless, the move should be lauded as Tron has shown its willingness to move towards its goal of adoption with this cloud computing service agreement with Baidu. It would be interesting how this pans out with the deployment of this technology likely to occur sometime in 2019.
TRX still remains stable despite the partnership
TRX investors had hoped that a concrete partnership would drive the price of the coin but this has not happened which can be attributed due to the terms of the agreement with Baidu. Tron price has remained stable during the period of the announcement.
The coin has been trading at $0.024086 per TRX with a drop of -2.56% in the last 24 hours although the price has been within this range all through October. This makes the coin one of the stable coins in the crypto market.
Tron still remains a valuable blockchain
Tron’s founder Justin Sun has managed to weave this news into a huge PR for Tron which is one of his specialities.
However, from previous antecedents, Tron can be said to have made huge strides in its blockchain platform application. 2018 has been a testing year for tokens but Tron has been relatively free from bugs and hack problems associated with many platforms.
Furthermore, Tron has been making huge progress on its Mainnet and is currently hosting more than ninety smart apps. While its deal for BitTorrent is a smart piece of business which opens the crypto as one of the leaders in torrent services.
Tron’s growth since its independence from Ethereum network has been impressive and it is believed that it could surpass Ethereum due to its speed and growing list of vendors.