Published in · 3 min read · Feb 24, 2023
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BitGo now supports USDC (TRC20) and USDT (TRC20) on the TRON Network for hot wallets and qualified custody!
What is TRON (TRX)?
TRON is a Layer 1 blockchain that aims to offer high throughput, scalability, and availability for decentralized applications (dApps). Since its launch in June 2018, the TRON blockchain has one of the highest number of decentralized applications along with the Ethereum network. It uses a delegated Proof-of-Stake (DPoS) consensus algorithm to validate transactions and has the capacity to process 2,000 transactions per second. The network is run by individual users who elect “super representatives” to validate transactions, earning fees for their services.
The ecosystem provides essential tools for developers to build, including:
1. A tooling system that helps developers easily set up and control TRON nodes and services
2. A TRON wallet to store TRON assets
3. A Blockchain explorer to track activity on the blockchain
History of TRON (TRX)
TRON was created by Justin Sun in 2017 and the TRON Foundation was established in Singapore that same year. In 2017, TRON raised $70 million through an initial coin offering. By March 2018, TRON had launched its testnet, blockchain explorer, and web wallet. In May 2018, TRON released its mainnet, the Odyssey 2.0, which was a major technical achievement. In June 2018, TRON changed its protocol from running on Ethereum to an independent peer-to-peer network. In July 2018, TRON announced that it had completed the acquisition of BitTorrent, a file sharing service. This acquisition marked TRON’s independence and the creation of the Genesis block.
Get Started
For certain existing BitGo clients:
To start custodying TRC20 assets, head to the wallet dashboard and create a “TRON” wallet.
For prospective clients:
To learn more about BitGo’s offerings, including TRON, schedule time with our team.
About BitGo
BitGo provides the most secure and scalable solutions for the digital asset economy, offering regulated custody, borrowing and lending, and core infrastructure to investors and builders alike.
Founded in 2013 — the early days of crypto — BitGo pioneered the multi-signature wallet and later built TSS to improve upon other companies’ MPC offerings. Between multi-sig and TSS, BitGo offers the safest technology on the market and safeguards over 600 tokens across a wide variety of blockchains.
Over the years, BitGo has expanded from offering wallets into providing a full-suite solution that lets clients hold assets safely and then put them to work.
BitGo launched BitGo Trust Company in 2018, providing fully regulated, qualified cold storage to complement BitGo Inc’s original hot wallet solution. In 2020, BitGo launched BitGo Prime, which allows its clients to trade, borrow, and lend. Moreover, BitGo also provides access to DeFi, staking, NFT wallets, and beyond, and serves as the world’s sole custodian for WBTC, or wrapped Bitcoin.
Today, BitGo is the leader in digital asset security, custody, and liquidity, providing the operational backbone for more than 1500 institutional clients in over 50 countries — a list that includes many regulated entities and the world’s top cryptocurrency exchanges and platforms. BitGo also processes approximately 20% of all global Bitcoin transactions by value.
For more information, please visit www.bitgo.com.
©2023 BitGo Inc. (collectively with its affiliates and subsidiaries, “BitGo”). All rights reserved. BitGo Trust Company, Inc., BitGo Inc., and BitGo Prime LLC are separately operated, wholly-owned subsidiaries of BitGo Holdings, Inc., a Delaware corporation headquartered in Palo Alto, CA. No legal, tax, investment, or other advice is provided by any BitGo entity. Please consult your legal/tax/investment professional for questions about your specific circ*mstances. Digital asset holdings involve a high degree of risk, and can fluctuate greatly on any given day. Accordingly, your digital asset holdings may be subject to large swings in value and may even become worthless. The information provided herein is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. BitGo is not directing this information to any person in any jurisdiction where the publication or availability of the information is prohibited, by reason of that person’s citizenship, residence or otherwise.
