Recently, Justin Sun revealed that TRON is developing a solution for stablecoin transfers without paying gas fees, which is planned to be officially launched in the fourth quarter of 2024. This innovative move is expected to completely solve the gas fee problem of cryptocurrency transfers and make TRON the first blockchain with more than 1 billion addresses.
In the blockchain network, each transaction requires a certain fee, which is called Gas fee. Gas fee is used to pay for network maintenance and bookkeeping related expenses. However, high Gas fee is often a pain point for cryptocurrency users. The Ethereum network is a typical example. Users need to pay tens or even hundreds of dollars in Gas fee for each transfer, which greatly limits the use of small transfer scenarios.
As a public chain compatible with the Ethereum Virtual Machine (EVM), TRON has also been affected by this problem to some extent. However, the gas-free stablecoin transfer solution announced by Justin Sun is undoubtedly a major breakthrough. This means that when users transfer stablecoins on the TRON network, they will not have to pay any fees, and the fees will be borne entirely by the stablecoins themselves. Regardless of the transfer amount, the actual expenditure cost of users will be greatly reduced. This will not only greatly improve the user experience, but also promote the development of scenarios such as small payments, and promote the further prosperity of the TRON ecosystem.
In addition, gas-free stablecoin transfers can also help improve the overall efficiency and security of the TRON network. On the one hand, since there is no need to pay gas fees, transaction costs are greatly reduced, and more users will participate in the TRON ecosystem, improving overall activity. On the other hand, reducing gas fees also means that the transaction processing pressure of the network will be relatively reduced, which is conducive to improving overall processing capabilities and security.
It is reported that Tron's gas-free stablecoin transfer solution is not only applicable to Tron's native stablecoin, but will also support other mainstream stablecoins, such as USDC, USDT, etc. This means that no matter which stablecoin the user holds, gas fees will be waived when transferring on the Tron network. This can greatly reduce the user's transfer costs and improve the user experience.
It is worth mentioning that this gas-free stablecoin transfer solution will be launched on the TRON mainnet first, and is planned to be gradually expanded to Ethereum and other public chains compatible with the Ethereum Virtual Machine (EVM) in the future. Because Justin Sun believes that similar services will greatly promote large companies to deploy stablecoin services on the blockchain, bringing the large-scale adoption of blockchain to a new level. This is undoubtedly TRON's contribution to the entire blockchain ecosystem while further consolidating its position.
In addition to free gas fees for stablecoin transfers, the Tron network will also launch innovative solutions in other areas in the future. It is reported that Tron plans to launch a series of "no gas fee" features around the fourth quarter of 2024, including smart contract deployment, decentralized application (dApp) interaction, etc. This means that Tron users will be able to enjoy a more low-cost and high-efficiency experience when using various Tron ecological applications.
In fact, TRON is not the first project to announce the launch of gas-free stablecoin transfers. Previously, well-known public chains such as Ethereum, Polygon, and Avalanche have also launched similar solutions to address usersâ growing pains over transaction costs.
However, TRON still has its unique advantages. As a project that entered the cryptocurrency market relatively early, TRON is already relatively mature in terms of technology accumulation and ecological construction. Moreover, data shows that TRON currently ranks first in the market share of P2P stablecoin transfers. The amount of P2P stablecoin transfers on TRON is always 2-3 times that on Ethereum, which shows that TRON has promoted more stablecoin payment and transfer activities.
Additionally, USDC issuer Circle and exchange Binance have both stopped supporting Tronâs USDC, providing momentum for Sun to successfully build his own solution on the network he founded.
Industry insiders generally believe that if Tron can successfully launch this gas-free stablecoin, it will have a profound impact on the entire cryptocurrency ecosystem. On the one hand, this will significantly reduce the transaction costs of stablecoin users and increase their stickiness; on the other hand, it is also expected to attract more large institutions to participate in the stablecoin field and promote the further development of the market.
Overall, Tronâs gas-free stablecoin plan is undoubtedly an important development that deserves our close attention. As more technical details are revealed and this innovation performs in real-world applications, we will be able to better assess its impact on the entire cryptocurrency ecosystem.