Justin Sun has announced plans to launch a cross-chain scaling solution known as Apollo
Apollo will enable the transfer of data and assets across multiple chains
Such a feature on Tron will be beneficial in enhancing DeFi across the crypto-verse
Just Sun and the Tron Foundation are yet to release full details on Apollo
The founder and CEO of Tron (TRX), Just Sun, has announced plans of launching a new cross-chain scaling solution known as Apollo. According to Justin Sun, Apollo will allow for the seamless transfer of data and assets across multiple chains in a secure manner. Mr. Sun made the announcement of the Apollo project through the following tweet.
🎉#TRON is excited to announce the upcoming launch of #TRON Apollo: Interconnecting Blockchains🚀
👉#TRON's official cross-chain scaling solution, enabling data and asset transfer across multiple chains, with security, openness, and unlimited scalability
Tron’s Apollo Will Provide Openness and Unlimited Scalability
The team at the Tron Foundation further reiterated Justin Sun’s announcement by stating that Apollo will offer openness and unlimited scalability.
We are excited to be adding #TRON. Apollo to the rapidly growing #TRON ecosystem! Our official cross-chain solution will enable data and asset transfer across multiple chains, which features security, openness and unlimited scalability.
Importance of Cross-Chain Communication in DeFi
News of Tron launching a cross-chain scaling solution comes at an opportune time as DeFi has blossomed rather fast in the last year.
The growth is best exemplified by the total value locked on Ethereum ($64 Billion), Tron ($12 Billion) and Binance Smart Chain ($42.6 Billion), just to name a few prominent blockchains.
Each of these blockchains has a growing number of DeFi users and a cross-chain solution will be the final building block to connect the activities on each of the networks. Additionally, a cross-chain solution will also usher in an era of blockchain interoperability thus ending the era of ‘isolation’ or ‘tribalism’ between networks and their users.
As mentioned by Justin Sun and the Tron Foundation, exact details of Apollo will be revealed soon and Ethereum World News will update accordingly.