Tron (TRX), through the Tron Super Representative (SR) team, has partnered with Kraken in a move that could further boost its credibility. In an X post shared with his more than 3.8 million followers, Justin Sun, the founder of Tron, celebrated the alliance.
Notably, the collaboration aims to strengthen decentralization for the Tron blockchain network, even as it seeks additional partnerships. Sun hinted at this with, "Kraken has arrived too, who's next?"
For perspective, this alliance follows the Tron SR team's decision to adopt Kraken. In the Tron ecosystem, the 27 SRs are chosen by the community to oversee certain critical functions. These include participating in governance decisions, validating transactions and producing blocks.
Overall, SRs function as the backbone of Tron’s decentralized network. Hence, the addition of Kraken, a renowned crypto exchange, to the team signals public endorsement of Tron’s ecosystem.
Globally, Kraken is respected and one of the longest-standing, regulated crypto exchanges. It is recognized for its security, technical reliability and adherence to regulatory guidelines. By endorsing Tron with the alliance, it indicates that institutions consider Tron a serious blockchain platform.
The alliance might catalyze more institutions to partner with Tron. With Kraken already drawn to Tron’s governance model, other major institutions may also consider looking in the direction of the blockchain.
Notably, this alliance may help the U.S. Securities and Exchange Commission (SEC) view Tron in a new light. In the past, the regulatory body had leveled allegations of fraudulent activities against Tron, with the SEC suing Justin Sun.
The development negatively impacted the price of TRX in the cryptocurrency space, as it dipped significantly. However, both parties resolved the issue with the willingness to negotiate. The lawsuit is currently on hold, with Sun maintaining the pause, which benefits the public.
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