Currently, some unconfirmed rumors suggested that the TRON Foundation of Justin Sun is set to partner with one of the largest entities by revenue in the world, the internet search giant of China, known as Baidu, which he termed as ‘tens of billions of dollars.’
TRON about to partner with tens of billions worth industry giant
As it was reported, the CEO of TRON foundation, named Justin Sun, recently tweeted out that the TRX network is willing to partner with an industry giant which is worth tens of billions of dollars and which saw the price surge of cryptos.
Since then, everyone that was struggling to at least throw a wild guess at which of the most prominent companies in the world TRON might be eying. According to the CEO, the partnership with this Chinese giant will be revealed this week. At a time when there is an attempt by the community members to guess who the mysterious partner is the crypto market platform Coinness claims that it has confirmed it would be Baidu and that Baidu Cloud will officially reveal the news.
As Justin said, Baidu is a vibrant company, and it is also the most significant IT firm search engine by market share. It serves almost 70% of the Chinese population. Even though TRON allegedly confirmed the partnership to Coinness, there were no any details about that.
According to the fact that China now has more than 750 million internet users, it is pretty easy to see why Baidu has to be a force to reckon with even in the international arena. The Shenma of Alibaba comes second with 14% of the market share, so that effectively makes the Baidu the ‘Google of China.’
Baidu also invested in AI
The services of Baidu actually include providing maps, videos, as well as images to the internet users under its wing. The company invested in artificial intelligence too, even going ahead to invest in building self-driving cars. Last year, one study rated Baidu as among the top internet companies in the world, putting it before Netflix and eBay in terms of revenue generated.
On the other hand, Justin claimed that a new update is going to make the blockchain of TRX 200x faster than that of Ethereum, at prices up to 100 times cheaper than EOS.
This update-related tweet also saw TRX surge about 8% and crash a few days later, and 9% on Saturday, as well as further 2% on Sunday.
TRON recently released an updated toolkit for developers, which is set to help them create decentralized applications or DApps on its ecosystem.
TRON has 100 employees working on it
The TRON Foundation has 100 employees that are working on it, some of which have come from Chinese internet giants such as Baidu, Tencent, as well as Alibaba. Also, Justin recently acquired Rainberry Inc, which is formerly known as BitTorrent.
With this, the TRX ecosystem acquired 100 million new active users, as seeders on the BitTorrent platform may be rewarded in crypto for seeding. Baidu was also looking into blockchain technology, as it launched in April an image rights management platform which is called Totem using it.
The search giant also started censoring crypto-related discussions on its forums earlier in 2018. The forum business of Baidu, according to some reports, has been launched in 2003 and has over 300 million monthly active users.
The news about the partnership of TRON and Baidu could be the best news that crypto investors have received since the market went on a downward spiral. Baidu, being a leading tech company, enjoys a majority market share as the ultimate Search Engine in China, which means that the massive user-base is going to be transferred to TRON as a potential customer and investor base. In the crypto world, nothing can be more important than a strong base of audience.
Having that in mind, it is evident that this partnership alone could very well push up the value of TRX and possibly cause a TRX bull run. However, the crypto world is a tricky space. We can only wait and see what is going to happen.