Tron is developing a gas-free stablecoin solution for faster and cheaper peer-to-peer transactions.
This innovation is set to eliminate gas fees for stablecoin transfers, which is a major pain point in the crypto industry.
The gas-free stablecoin could boost both P2P transactions for individuals and companies alike.
Tron's gas-free solution might compete with fee-free services like PayPal's PYUSD.
The launch is expected in Q4 of 2024, with more details awaited.
Tron is set to expand further in the crypto space with its new and latest innovation:
A gas-free stablecoin solution specifically targeted at the P2P market.
Tron now aims to launch this new stablecoin on its own blockchain by Q4 of this year and later on Ethereum and the others.
Let's examine how massive a gas-less stablecoin would be and why it is set to revolutionize the crypto industry as a whole.
Gas fees have been one of the major issues with the crypto industry from the onset.
For example, gas fees on Bitcoin and Ethereum have climbed to as high as hundreds of dollars per transaction, driving investors and traders towards cheaper and less decentralized solutions.
However, a gas-free solution would ensure that individuals can send and receive stablecoins without fear of market fluctuations or gas fees.
Tron aims to achieve this, as outlined by Justin Sun, the network's founder.
The stablecoin announcement
In a recent Tweet, Sun mentioned that these stablecoin transfers will be gas-free, in that the gas will be covered by the stablecoins themselves, removing the need for users to buy and use gas tokens.
While the exact method Tron and Sun aim to use to achieve this remains a mystery, the prospects of such an innovation are impressive.
According to Sun in the announcement, this gas-free stablecoin is a game changer, especially for individuals looking to conduct P2P transactions and companies looking to offer stablecoin services to their customers.
“I believe that similar services will greatly facilitate large companies in deploying stablecoin services on the blockchain” Sun said.
By removing the gas fee barrier, major corporations can avoid the need to pay tens of thousands of dollars to deploy and use stablecoin solutions, helping blockchain mass adoption reach new heights.
Moreover, this gas-free solution will be capable of challenging other similar solutions like PayPal’s PYUSD, which allows users in the U.S. to send money across borders without fees.
This is in addition to Tron's more recent plans to develop a Bitcoin Layer-2 Solution that would support a "wrapped" version of Tether on Bitcoin, allowing Bitcoin and Tron to become interconnected and billions of dollars to pass through.
Overall, the crypto industry waits for the fourth quarter of the year, when Tron and Sun deliver on their promises, with a new gas-free stablecoin on the horizon.
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