Tron, under Justin Sun\'s leadership, is creating a gas-free stablecoin to eliminate fees on Ethereum and Tron, challenging PayPal\'s PYUSD.
- 王林Original
- 2024-07-10 14:54:43868browse
The creator of Tron, Justin Sun, has come clean about the fact that his team is working on a gasless stablecoin solution to eliminate the fees
Justin Sun, the founder of Tron, has revealed that his team is working on a gasless stablecoin solution to remove fees from P2P transfers. While details on the implementation remain scarce, the stablecoins themselves will cover the transfer costs.
Sun's initiative to integrate the stablecoin solution on Tron in Q4, followed by Ethereum and other EVM-compatible public chains in subsequent quarters, aims to eliminate the need for users to hold any gas tokens. This move is expected to significantly benefit businesses looking to offer stablecoin services.
According to a June 27 report by blockchain analytics firm Artemis X, Tron currently dominates the peer-to-peer stablecoin transfer market, processing two to three times the volume compared to Ethereum, which ranks second.
One potential competitor in this space is PayPal's PYUSD, which offers free international payments to select users in the United States. Additionally, stablecoin users can enjoy no-fee transfers using Circle's USD Coin on Ethereum layer-2 Base via the Coinbase Wallet.
With Circle and Binance having discontinued USDC on Tron, the platform may feel further compelled to develop its own solution to remain competitive in the stablecoin market.
In other Tron-related news, the platform is considering building a Bitcoin layer-2 to facilitate the potential flow of billions of dollars into the BTC ecosystem, which could include a "wrapped" version of Tether. Notably, Tron already supports the transfer of tokens like USDT between Tron and Bitcoin through existing cross-chain protocols.
The above is the detailed content of Tron, under Justin Sun\'s leadership, is creating a gas-free stablecoin to eliminate fees on Ethereum and Tron, challenging PayPal\'s PYUSD.. For more information, please follow other related articles on the PHP Chinese website!