(YorkPedia Editorial):- Singapore, Singapore Feb 2, 2021 (Issuewire.com) – Chaingateway.io, the blockchain API service provider, has recently integrated Tron into its ecosystem due to the rising Ethereum fees. Since the use cases of Chaingateway are linked with transactions, the Ethereum blockchain was turning out to be a little too expensive for the users and businesses. This is why the startup integrated Tron, a marginally superior blockchain in terms of TPS (Transactions per second) and fee, into their ecosystem for a better and smoother financial user experience.
Chaingateway is basically a blockchain startup that helps blockchains like Ethereum interact with the real world. It allows users to automate the interaction of blockchains. For example, you can automate checking token balances, sending tokens, or creating new addresses. All kinds of crypto exchanges, ICOs, E-commerce shops can use these APIs to add their own token payment method in their businesses. Chaingateway helps these businesses to interact with the blockchains and charges them for each API call.
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To make the process cheaper and smoother for businesses, Chaingateway has integrated Tron as well. The clients weren’t able to distribute Ethereum based tokens anymore due to the above-mentioned issue and hence Tron seemed to be an easy solution for the problem. Fintech Zoom recently reported that the number of Tether transactions on Tron blockchain surpassed Ethereum’s count due to the high transaction fees. People who transact using cryptos are already preferring Tron over Ethereum and it can be proven through the recent numbers where Tether transactions on Ethereum have remained steady for weeks while on Tron, the weekly transactions have surged from 900,000 in mid-December to 2 million in the second week of January.
Tron’s blockchain is much more advanced as compared to Ethereum. Tron uses Proof-of-Stake as a consensus algorithm (A system used to keep the security of the transactions on a blockchain intact through validators), which is an energy efficient way to validate transactions on the network. This is why the transaction fees are kept to a minimal amount and the miners still get a handsome payday. It also allows a high TPS (Transactions per second) which makes it perfect for decentralized applications, blockchain projects and ICOs. Another upside of adding Tron is that the smart contracts on Ethereum are fully compatible with Tron, which means that there won’t be any need for extra effort changing from Ethereum to Tron.
At first, the functions to interact with the Tron Blockchain will be limited to transactions, getting balances and an Instant Payment Notification system. The functionality will be altered and tailored according to the needs of the clients. While interaction possibilities are limited, for now, compatibility isn’t. The Tron API will work with all tokens created on the Tron blockchain by default. The full overview of available functions and how to implement them can be found on Chaingateway.io’s Tron API Documentation.