TRON Creator Justin Sun Unveils Plans to Eliminate Gas Fees for Stablecoin Transfers

Justin Sun, the creator of TRON, has disclosed that his team is currently in the process of facilitating gas-free stablecoin transfers in the fourth quarter of 2024.

TRON is developing a solution that will eliminate the need for gas during stablecoin transmissions.

Justin Sun, the creator of TRON, has disclosed that his team is currently facilitating gas-free stablecoin transfers in Q4 2024.

The solution will initially be functional exclusively on TRON. However, Sun intends to implement it on Ethereum and all Ethereum Virtual Machine (EVM)-compatible public networks in the near future.

“I believe that the integration of such services will make it significantly easier for large corporations to deploy stablecoin services on the blockchain, thereby enhancing the widespread adoption of blockchain technology,” Justin added.

Justin has not provided much detail regarding the technical aspects of the solution. Usually, gas fees are required to compensate for the computational energy necessary to process and validate a transaction on a platform like TRON or Ethereum.

Gas fees are often payable in the blockchain’s native cryptocurrency. So TRX for TRON and ETH for Ethereum.

In Justin’s scenario, stablecoins will be used to cover the gas fees, instead of the native token.

This means that a small portion of the USDT you send will be automatically reserved to cover transaction fees.

Ideally, the solution will integrate a mechanism that calculates the equivalent amount of stablecoin needed to cover the gas fee. Most likely, this will be based on the current exchange rate between the stablecoin and the native token.

The solution will likely be implemented using smart contracts, which can automatically handle the conversion and payment of fees directly in stablecoins.

These contracts would then act as an intermediary in your transactions, ensuring that the appropriate fee amount (e.g., 0.00000001 TRX) is deducted and remitted to validators/miners.

These validators will now be required to upgrade their software to accept stablecoin payments for processing transactions. This may involve altering a fundamental layer of TRON’s blockchain protocol.

The solution must be able to adapt to the different blockchain architectures in order to ensure compatibility with Ethereum and EVM-compatible chains.

This will make it easier for users to conduct stablecoin transactions without having to maintain separate tokens, especially for those who are not frequent stablecoin users.

Reduced transaction fees will definitely improve the overall experience on these blockchains. As a result, the ease of sending and receiving stablecoins will likely increase their adoption.

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