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

Nearly 500,000 Nigerian CBDC Wallets Downloaded Since Launch
Nearly 500,000 Nigerian CBDC Wallets Downloaded Since Launch Nearly half a million e-naira wallets have been downloaded a few weeks after the central bank digital currency (CBDC) w
Elisha Owusu Akyaw8 hours agoOnboarding crypto users in Africa vs. the West — Fonbnk founder Christian Duffus explainsChristian Duffus, founder of Fonbnk, believes a lack of basic infrastructure such as telecommunicati
Optimism Flickers At $0.553: A Recovery Or A Pause The Decline?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Analyst Says Dogecoin Price At $1.3-$1.5 Is Still Possible, Here’s Why
Este artículo también está disponible en español. The Dogecoin price has continued its consolidation just below the $0.44 level, but positive sentiment remains at a multi
Terra Whistleblower Publishes Alleged Chat Log Between Do Kwon and Network Validators
Terra Whistleblower Publishes Alleged Chat Log Between Do Kwon and Network Validators Over two weeks after the Terra LUNA and UST fallout, a whistleblower dubbed “Fatman
Martin Young4 hours agoCongressman Warren Davidson calls to ban and criminalize CBDCs“Money should not be programmable by a central authority,” argues Republican Representative Warren Davidson.1602 Total views50 Tota
End Of The Road For Solana? Analyst Predicts 77% Price Crash To $40
Este artículo también está disponible en español. In a surprising take, a crypto analyst has foreseen a crash in the price of Solana despite the ongoing bull momentum.Thi
Kamala Harris memecoin surges 250% amid calls for Biden to bow out
Jesse Coghlan6 hours agoKamala Harris memecoin surges 250% amid calls for Biden to bow outA Joe Biden-themed memecoin tanked nearly 75% since his debate against Donald Trump on June 27, while his potential replacement’
Why is Bitcoin price stuck?
Nancy Lubale4 hours agoWhy is Bitcoin price stuck?Bitcoin price is stuck in a downtrend as sellers across the market refuse to relent.798 Total views1 Total sharesListen to article 0:00Market AnalysisOwn this piece of cr
Arie Trouw11 hours agoDecentralization and sovereignty: Debunking our approach to digital sovereigntyWhether it"s browser data or sensitive information, our digital snail trail is frequently extrapolated and shared under
Thailand’s Largest Bank Snubs Ripple – Selects Stellar-based Blockchain for Cross Border Remittances
Thailand’s Largest Bank Snubs Ripple – Selects Stellar-based Blockchain for Cross Border Remittances In an apparent snub to Ripple, Thailand’s oldest b
Key Bitcoin Levels Under The Spotlight This Weekend: Insights From Glassnode
Este artículo también está disponible en español. Bitcoin (BTC), the largest cryptocurrency by market capitalization, has experienced a remarkable uptrend over the past t