Tron's market growth and strategic layout plans to realize a gas-free stablecoin transfer revolution

Tron founder Justin Sun revealed in an X tweet on July 6 that his team is developing a new technology that allows peer-to-peer (P2P) stablecoin transfers without paying gas fees.

Justin Sun emphasized that this innovation means that users will no longer need to pay any gas tokens when making stablecoin transfers, and all related costs will be borne by the stablecoin itself.

It is expected to launch a stable currency transfer without gas feeaccount mechanism

Although Justin Sun did not elaborate on how this gasless mechanism will operate, he made it clear that this feature will be launched on the Tron blockchain first, with plans to gradually expand to Ethereum and other supporting Ethereum Virtual Machine (EVM) network of.

Justin Sun also mentioned that their goal is to officially launch this feature in the fourth quarter of 2024. He believes that gas fee-free stablecoin transfers will greatly promote the widespread adoption of stablecoins, especially for large enterprises, which will greatly simplify their process of deploying stablecoin services on the blockchain, thereby promoting blockchain Wider popularity and application of chain technology. He also expressed hope that such services will help push the mass adoption of blockchain technology to the next level.

Stablecoin market performance and practical application potential

Blockchain analytics firm Artemis highlighted the strong growth momentum of the Tron stablecoin in an X tweet published on June 27. The article mentioned that the circulating supply of Tron stablecoin has reached 60 billion US dollars, setting a record high, showing its continued growth and expansion in the market. In addition, the number of addresses using stablecoins on the Tron network also set a new record, indicating a significant expansion of the user base.

Of particular note is Tron’s performance in peer-to-peer (P2P) stablecoin transfers. According to data from Artemis, the transfer volume on the Tron network is two to three times that of Ethereum, a lead that highlights Tron’s efficiency and appeal in facilitating stablecoin transfers. Artemis also noted that Tron is actually driving more daily payment and remittance activity than decentralized finance (DeFi) activity, which also proves Tron’s potential in real-world applications.

Market impact and competitive prospects of gas-free transfer services

Tron’s upcoming gas-free stablecoin transfer service may have a significant impact on the existing stablecoin market structure. For example, the stablecoin PYUSD issued by PayPal provides free cross-border transfer services to specific US users, and Tron's innovative services may become its strong competitors, providing lower-cost and more efficient transfer solutions for global users. . This will not only enhance Tron's market competitiveness, but may also promote innovation and development in the entire blockchain payment industry.

Circle's USD Coin (USDC), as the world's second largest stablecoin, following Tether (USDT), has implemented a gas-free transfer function on the Ethereum second-layer blockchain Base developed by Circle, and It is available through the Coinbase wallet, which gives USDC a unique competitive advantage. This innovation may pose a potential market challenge to Tron’s gas fee-free stablecoin transfer service.

Explore second-tier ecological applications and strategies to cope with market squeeze

At the same time, Tron is also exploring the development of second-layer network solutions for Bitcoin, aiming to support the encapsulated version of Tether, which may attract a large amount of funds to flow into the Bitcoin ecosystem and further expand Bitcoin’s application scenarios and market size.

Justin Sun chose to announce Tron’s gas-free stablecoin transfer plan after Circle and Binance successively stopped supporting USDC on the Tron network. This timing may be intended to demonstrate the independence and innovation capabilities of the Tron network, but it may also be A strategic response to market changes. By developing new technologies and services, Tron aims to consolidate its position in the highly competitive stablecoin market and provide users with more diverse, low-cost financial service options.

Conclusion:

The Tron Foundation, led by Justin Sun, is expected to bring revolutionary changes to the blockchain payment field through the innovation of gas-free stablecoin transfer technology. This service, which is expected to be launched in the fourth quarter of 2024, will reduce transaction costs, promote the popularity of blockchain technology, and provide enterprises with more efficient stablecoin deployment solutions. Judging from the current data, the market growth and practical application potential of Tron stablecoin, especially in P2P transfers and daily payments, have shown its leading advantages.

At the same time, in the face of fierce market competition, Tron's strategic layout, including the exploration of Bitcoin's second-layer network and timely response to market changes, has demonstrated its innovation capabilities and market adaptability. These measures not only consolidate Tron's position in the stablecoin market, but also inject new impetus into the development of the entire blockchain payment industry, heralding the coming of a new era of low-cost, high-efficiency financial services.

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