Unconfirmed rumors currently suggest the TRON Foundation is set to partner with China’s internet search giant Baidu, as a crypto platform claims to have confirmed the partnership in correspondence with TRON.
As CryptoGlobe reported, TRON Foundation CEO Justin Sun recently tweeted out the TRX network is about to partner with an “industry giant” that’s worth tens of billions of dollars, which saw the cryptocurrency’s price surge.
Per the CEO, the partnership is going to be revealed “next week.” At a time various community members attempt to guess who the mysterious partner may be, crypto market platform Coinness claims to have confirmed it’ll be Baidu, and that the news will be “officially revealed by Baidu Cloud.”
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
Although TRON allegedly officially confirmed the partnership to Coinness, the crypto platform hasn’t yet released any details on it. This is notably not the first time TRON’s founder Justin Sun makes headlines this week, as he claimed a new updated would make TRX’s blockchain “200x faster” than that of Ethereum, at prices up to 100 times cheaper than EOS.
The update-related tweet saw TRX surge about 8% and crash a few days later. The partnership update saw the crypto rise 9% yesterday and a further 2% in the last 24-hour period, as it’s currently trading at $0.024, according to CryptoCompare data.
Although the cryptocurrency has been surging, it still hasn’t climbed back to its $0.028 30-day high, and is currently down about 90% from its all-time high of over $0.25. TRON recently released an updated toolkit for developers that’s set to help them create decentralized applications (DApps) on its ecosystem.
The TRON Foundation itself reportedly has over 100 employees working on it, some of which have come from Chinese internet giants like Baidu, Tencent, and Alibaba. Justin Sun, the Foundation’s CEO, has earlier this year acquired Rainberry Inc, formerly known as BitTorrent.
This brought the TRX ecosystem 100 million new active users, as seeders on the BitTorrent platform may reportedly be rewarded in crypto for seeding. Baidu itself has been looking into blockchain technology, as it launched in April an image rights management platform called Totem using it.
The search giant has, as covered, started censoring cryptocurrency-related discussions on its forums earlier this year, in line with China’s crackdown on the nascent industry. Baidu’s forum business, per reports, was launched in 2003 and has over 300 million monthly active users.
CryptoGlobe reached out to the TRON Foundation and Coinness and they responded with the following comment: “Sorry for the late reply, we will report this partnership in details, please stay tuned with us.”