Tron Founder Justin Sun Announces Gasless Stablecoin Solution for Peer-to-Peer Transfers
Tron founder Justin Sun is shaking up the cryptocurrency world with his latest announcement of a gasless stablecoin solution. This innovative technology will allow for peer-to-peer transfers to be completely free for all users, a game-changer in the industry.
Sun plans to roll out this stablecoin solution on the Tron blockchain in the fourth quarter of this year, with plans to expand to Ethereum and other Ethereum Virtual Machine-compatible public chains shortly after. The transfers will not require any gas tokens, as the fees will be covered by the stablecoins themselves.
While the exact mechanism behind this technology has not been disclosed, Sun is confident that it will revolutionize the way companies offer stablecoin services. Tron currently leads the peer-to-peer stablecoin transfer market, processing significantly more volume than its closest competitor, Ethereum.
With Tron already hosting over $50 billion of Tether’s value, this new stablecoin solution could potentially compete with other free transfer options like PayPal’s PYUSD and Circle’s USD Coin on Ethereum layer 2 Base. Circle and Binance recently removed support for USDC on Tron, prompting Tron to develop its own solution.
In addition to the stablecoin solution, Tron is also exploring the possibility of building a Bitcoin layer 2 solution that would support a wrapped version of Tether. This could open up the Bitcoin ecosystem to billions of dollars in new investments.
For now, Tron is utilizing existing cross-chain protocols to bridge USDT and other tokens between Bitcoin and Tron. This development is sure to attract attention from both cryptocurrency enthusiasts and traditional financial institutions alike, as the world of digital assets continues to evolve.
