Justin Sun Unveils Plans to Introduce Gas-Free Stablecoin Solution to Make P2P Transfers Free

In an exciting development, Tron founder Justin Sun has unveiled plans to introduce a game-changing stablecoin solution to make peer-to-peer transfers free.

Tron founder Justin Sun is planning to introduce a game-changing stablecoin solution that will make peer-to-peer transfers free, aiming to address one of the biggest obstacles to blockchain usability.

In an announcement on July 6, Sun's team is working on a gasless stablecoin initiative that will allow users to send stablecoins back and forth without paying any gas fees.

Typically, gas fees accompany every transaction on a blockchain. For instance, to transfer stablecoins and most crypto assets, the user pays gas fees that are usually denominated in the native token of each network. For example, gas fees for stablecoin transactions on the Tron network are paid with the native TRX token.

However, with Sun's solution, users will be able to send and receive stablecoins without requiring TRX or other assets as the gas fees will be “entirely covered by the stablecoins themselves.”

The controversial Chinese crypto mogul hopes to first deploy the gasless stablecoin on the Tron blockchain in Q4 of this year and later expand it to Ethereum and other blockchains that are compatible with the Ethereum Virtual Machine (EVM). He did not, however, provide more details on how these gasless transfers will work.

Sun believes that the gas-free stablecoins could be revolutionary for firms seeking to provide stablecoin services, adding:

“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's stablecoin will likely compete with PayPal's PYUSD, which allows some United States-based users to make cross-border payments for free. But PYUSD requires users to immediately swap out of the stablecoin, whereas Sun's stablecoin, if successful, would not need that step.

Meanwhile, the Tron blockchain has maintained a strong user base with a steadily increasing number of active users since the beginning of the year.

CryptoQuant analyst Ben Sizelove recently suggested that this feat was largely due to the various applications on the Tron network, including payments stablecoins and real-world assets. Sizelove also noted that Tron's strong user base is evident amid market uncertainty and the increased selling pressure currently hitting the broader crypto market.

On the price front, TRX has also shown some resilience. The token has seen some decrease in value, but not to the extent of Bitcoin (BTC), Ethereum (ETH) and other cryptocurrencies.

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