Eric Zhang: MakerDAO (DAI) and Paxos will create stable coin on Truechain
Ishan Garg Posted On June 20, 2019 
In an event hosted in Vietnam by Tron, Okex, Truechain, and Ontology on June 1st, Mr. Eric Zhang, the founder, and CEO of Truechain stole the show. With major announcements and partnerships in his speech, Eric Zhang convinced all of the attendees that why Truechain is a force to reckon with.
Eric Zhang began his speech by pointing out the flaws with the current blockchains, namely their lack of understanding of the Impossible Triangle. Impossible Triangle says it’s very tough to achieve performance, decentralization, and security all together in a blockchain.
Truechain’s comparison with other blockchains
He then reveals how Truechain solved the Impossible triangle problem by using a hybrid consensus algorithm. The hybrid consensus algorithm uses two consensus algorithms – PoW and DPoS together to solve the impossible triangle problem. Truechain’s whitepaper explains everything. Truechain is the first blockchain to introduce a hybrid consensus algorithm.
“It is funny to say that we tested throughout the bear market. I don’t want to brag about it, the bull market of this year began right after we launched the main net, it’s like the bull is waiting for our main net. Magic!”
Statistics and Partnerships
The icing on the cake wasn’t Truechain’s introduction but rather the statistics and partnerships announced by Eric.
According to data revealed by Eric, Truechain has completed 12 million transactions and has 150,000 active accounts. Moreover, Truechain is active in at least 50 countries, and currently 65 community managers around the world.
Eric Zhang reveals Truechain’s Partners
That’s not all, Truechain has partnered with Fortune 500 companies such as LG. Moreover, Paxos and Maker DAO will both be creating their Stablecoin on Treuchain’s platform. Large exchanges such as ZB.com and OTC desks will be provided with liquidity to the newly minted stable coins on Truechain’s platform.
Lastly, Truechain’s adoption has already started. Dozens of coffee shops in Thailand have started accepting True tokens, the Truechain’s ecosystem native tokens.
Truechain is currently trading at $0.98 a 0.67% increase in 24 hours. The blockchain has a market cap of $78 million. Cryptocurrency exchange Okex has the highest volume of Truechain trading with $59 million worth of True tokens being traded in 24 hours. Okex is the best exchange to trade Truechain currently.
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