Tron launches Oracle solution JustLink to compete with Chainlink

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Last Updated on 30 October 2020 by CryptoTips.eu

Popular blockchain platform Tron has collaborated with JUST Foundation to launch an oracle protocol on the Tron blockchain called JustLink. According to the press release, JustLink will be the first blockchain oracle based solution on the Tron blockchain that provides real-time data to smart contracts.

This is similar to what popular oracles platform Chainlink does for the Ethereum platform. Tron believes that this would ensure a new dawn for decentralized assets in the Tron ecosystem. The team of Justin Sun has been working hard to compete with industry leaders in the smarts contract industry.

The Decentralized Finance boom suggested that Ethereum’s dominance is far from over as most projects that succeeded were based on the Ethereum blockchain. Chainlink was the primary reason for the boom as most DeFi developers used its Oracle protocols to generate real time data for their DeFi products.

JustLink will offer similar services and is anticipated to become a key cog in the Tron DeFi ecosystem and would be used for data and prices for derivatives, digital assets and many more.

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JustLink is a big milestone for Tron

Justin Sun the eccentric founder of Tron believes that JustLink would mark a major milestone for the Tron network. He further stated that the launch of the oracle protocol would spark a new surge towards Tron based DeFi products.

JustLink will also have a native token to power its ecosystem named JST. Furthermore JST will take up the role of the pricing pool that interconnects different platforms within the JustLink ecosystem. It will also be available for trading and arbitrage purposes on crypto exchanges.

If we take Chainlink as a precedent, the value of JustLink’s token JST could increase in time as it use cases increase. It is also a great development for the Tron ecosystem as it has the potentials to power a new generation of DeFi products.

At the time of publication JST is valued at $0.02 down 9%. Also there are plans to list the coin on popular exchanges like Binance.