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TRON Ecosystem Merge With Heco Chain: What Does It Mean?

After revealing his investment in Huobi Tokens, Tron founder Justin Sun announced yet another decision on the Tron Heco merge.

Published by

Anvesh Reddy

Updated 14 Oct, 2022 | 01:43:51 PM UTC

TRON Ecosystem Merge With Heco Chain: What Does It Mean?

After revealing his investment in Huobi Tokens, Justin Sun announced yet another decision on Tron Heco merge. The Tron founder said the Tron and BitTorrent chain ecosystem will now work together with the Heco developers. Earlier on Friday, Sun said he currently owns tens of millions of Huobi Tokens (HT). The Tron community reacted positively to the Heco merger announcement. In the space of just an hour, Tron (TRX) price rose by over 4%.

What Is Heco Chain?

HECO Chain (Heco) is a decentralized, high-efficiency and energy-saving public chain aimed at helping developer evolvement at every stage. It is compatible with smart contracts and supports high performance transactions. Heco’s addition to the Tron ecosystem makes sense considering the fact that its endogenous token is Huobi Token. Thanks to Justin Sun’s announcement on his Huobi token holdings, the token price jumped massively earlier in the day.

The Tron Heco merge initiative has been a long term effort from the developers, in the larger mission of connecting many chains. At the time of the launch of BitTorrent Chain testnet last year, the team announced plans to support Heco chain. In this context, Justin Sun said the ecosystem will pool in funds to bring all Heco developers to build on TRON and BitTorrent chain together.

“We will merge TRON and BitTorrent Chain ecosystem with Heco. We will deploy sufficient capital to encourage all Heco developers to build on TRON and BitTorrent Chain together. Let’s build!”

The Revival Plan

Recently, Justin Sun has been announced as a member of Huobi Global’s new advisory committee. Thereafter, Sun announced plans to revive the crypto exchange in areas like brand upgrade, empowerment, and business cooperation. The revival plan was triggered by a recent change in Huobi leadership. The exchange’s founder Leon Li sold his entire controlling stake to Hong Kong-based About Capital Management. As of writing, Huobi Token price stands at $7.74 up 6.80% in the last 24 hours, according to price tracking platform CoinMarketCap. Whereas Tron (TRX) price stands at $0.06391 up 7.21% in the last 24 hours.

Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

Published by

Anvesh Reddy

Updated 14 Oct, 2022 | 01:43:51 PM

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