Fun

Tron develops gas-free stablecoin for Ethereum and Tron chains

News Feed - 2024-07-07 10:07:59

Brayden Lindrea7 hours agoTron develops gas-free stablecoin for Ethereum and Tron chainsTron’s founder Jusin Sun believes gas-free stablecoins could take corporate adoption of blockchain to a new level.2320 Total views8 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksTron founder Justin Sun has revealed his team is building a gasless stablecoin solution to make peer-to-peer transfers free for all.


Sun hopes to integrate the stablecoin solution on the Tron blockchain this fourth quarter, followed by Ethereum and other Ethereum Virtual Machine-compatible public chains soon after.


“Transfers can be made without paying any gas tokens, with the fees being entirely covered by the stablecoins themselves,” Sun explained in a July 6 X post.


However, he didn’t explain how the mechanism would work.Source:Justin Sun


Sun believes this gas-free stablecoins could be a game-changer for companies looking to offer stablecoin services.“I believe that similar services will greatly facilitate large companies in deploying stablecoin services on the blockchain, elevating blockchain mass adoption to a new level.”


Tron currently leads the peer-to-peer stablecoin transfer market and is consistently processing two to three times the volume of second-placed Ethereum, blockchain analytics firm Artemis highlighted in a June 27 X post.Peer-to-peer stablecoin transfers on Ethereum, Tron, Avalanche and Solana. Source: Artemis


Tron is home to more than $50 billion of Tether’s (USDT) $112 billion in value issued across multiple blockchains, DefiLlama data shows.


Related:Stablecoins to make up 10% of money in the next decade or so: Circle CEO


Tron’s solution could compete with PayPal’s PYUSD, which allows certain United States-based users to make cross-border payments for free.


Circle’s USD Coin (USDC) on Ethereum layer 2 Base via Coinbase Wallet also allows free transfers.


Circle and cryptocurrency exchange Binance recently removed support for USDC on Tron,perhaps providing Tron with an incentive to build a solution of their own.


Tron is also considering building a Bitcoin layer-2 solution that would support a “wrapped” version of Tether — potentially enabling billions of dollars to flow into the Bitcoin ecosystem.


For the time being, Tron is leveraging existing cross-chain protocols to bridge USDT and other tokens between Bitcoin and Tron.


Magazine:The real risks to Ethena’s stablecoin model (are not the ones you think)# Blockchain# Circle# Adoption# Binance# Tether# Tron# Stablecoin# Justin Sun# USD CoinAdd reaction

News Feed

Nigerian Artist Davido Launches Fan Token That Gives ‘Power Back to the Fans’
Nigerian Artist Davido Launches Fan Token That Gives "Power Back to the Fans" Nigerian artist Davido has launched a fan token, the Echoke Social Token, that he says gives “p
Tristan Greene3 hours agoOpenAI and Microsoft accused of stealing data to train ChatGPT in new class-action suitThe lawsuit alleges that OpenAI’s profits came as a result of using illegally scraped data to train its mo
Tom Blackstone4 hours agoPaxos confirms it’s responsible for $500K mistaken Bitcoin transactionThe account that paid $500,000 to move $2,000 worth of Bitcoin was a Paxos server, the company stated.3742 Total views13 To
Savannah Fortis40 minutes agoUS senator pushes tech companies to label AI-generated contentUnited States Senator Michael Bennet wrote a letter to major tech companies, including OpenAI and Google, to urge the labeling of
Dogecoiners clone hyped Bitcoin Ordinals ‘Runestone’ airdrop
Jesse Coghlan3 hours agoDogecoiners clone hyped Bitcoin Ordinals ‘Runestone’ airdropThe Doginal-based Runestones were given away for free, just like its Bitcoin Ordinals original.1407 Total views11 Total sharesListen
PEPE Midterm Price Prediction: Is A 326% Rally To $0.00003474 Possible From Here?
Este artículo también está disponible en español. A crypto analyst has just unveiled a midterm Pepe price prediction, forecasting that the frog-themed meme coin could see
Nigeria restricts fintech onboarding to stop KYC-evading crypto investors
Arijit Sarkar59 minutes agoNigeria restricts fintech onboarding to stop KYC-evading crypto investorsNigerian fintech firms OPay, Kuda Bank, Moniepoint and PalmPay were directed to pause the creation of new accounts amid
David Attlee22 minutes agoJapanese yen-backed digital currency, DCJPY, to go live in July 2024Digital currency and electronic payments business DeCurret Holdings intends to launch the coin in July 2024.122 Total viewsLis
Ana Paula Pereira7 hours agoYearn.Finance token tumbles 43%, community speculates on exit scamYearn.Finance"s YFI token crashed over 43% in just five hours, after rallying almost 170% in November.4037 Total views23 Total
TeraWulf Bitcoin production falls 21% in Q2, looks to AI expansion
Tom Mitchelhill7 hours agoTeraWulf Bitcoin production falls 21% in Q2, looks to AI expansionBitcoin miner TeraWulf mined 699 Bitcoin in Q2 — a 21% year-over-year decline — but still beat analyst expectations with $35
Savannah Fortis10 hours agoThe Author’s Guild launches class-action lawsuit against OpenAIThe Author’s Guild opened a lawsuit against OpenAI, alleging misuse of copyrighted material in training of its AI models.1710
Goldbugs renew mocking Bitcoin as the yellow metal hits all-time high
Martin Young2 hours agoGoldbugs renew mocking Bitcoin as the yellow metal hits all-time highGold investors are taking swipes at Bitcoin following a new all-time high for the precious metal.928 Total views24 Total sharesL