Justin Sun's team is developing a stablecoin without using gas for transactions
Date: 2024-07-08 Author: Gabriel Deangelo Categories: BLOCKCHAIN
The team of Justin Sun, a famous entrepreneur and founder of the Tron network, announced the development of a new stablecoin that will allow transactions without the use of gas. This stablecoin, according to Sun, will be an ideal tool for corporate use, since companies will be able to avoid the need to purchase cryptocurrencies to pay for gas and fees on the blockchain.
Introduction of gasless transactions
According to Justin Sun, new tokens will appear on the Tron network in the fourth quarter of this year. Subsequently, it is planned to distribute the stablecoin to Ethereum and other EVM-enabled networks. Although the exact mechanism of how a stablecoin works without the use of gas is still unknown, Sun shared some details of the project.
“Our team is developing a new solution that will allow the transfer of stablecoins without gas. That is, gas tokens will not be used, and all fees will be covered in the stablecoins themselves. I believe that such services will make it much easier for large companies to provide services for working with stablecoins and will raise the mass adoption of blockchain to a new level,” Sun wrote on the social network X.
Benefits for corporate users
Sun argues that not having to purchase cryptocurrency to pay transaction fees will be a significant benefit for enterprise users. This will remove one of the main barriers to mass adoption of blockchain in the business environment, as companies will be able to manage their financial transactions more efficiently.
Tron has already established itself as the leader in stablecoin transfer volume. The Tron network recently came into the spotlight when the Binance exchange froze a USDT address worth $8.5 million. This event highlighted the importance of security and regulation in the stablecoin space, and also increased interest in new solutions such as the gasless stablecoin being developed.
Prospects and challenges
The emergence of a new stablecoin without the use of gas could be a significant step forward for the entire cryptocurrency industry. However, questions remain about the technical details and possible challenges associated with implementing such a system. The project's success will depend on its ability to provide reliable and secure transactions, as well as how well it is accepted by enterprise users and the community at large.
In conclusion, Justin Sun's team's initiative to develop a gas-free stablecoin is an ambitious project with the potential to significantly change the landscape of cryptocurrency transactions and accelerate the mass adoption of blockchain in the enterprise sector.
