Stablecoin

Ethereum

TRON

Avalanche

<a href="https://bitcoinworld.co.in/tron-to-enable-gas-free-stablecoin-transfers-in-q4-2024/" title="TRON To Enable Gas-Free Stablecoin Transfers In Q4 2024" rel="nofollow"></a>
<ul> 
 <li style="font-weight: 400">TRON is creating a solution that’ll make stablecoin transfers completely <a href="https://bitcoinworld.co.in/tron-is-building-a-gas-free-stablecoin-solution-for-tron-ethereum-chains/">gas-free</a>.</li> 
 <li style="font-weight: 400">The solution will extend to Ethereum and EVM chains shortly after.</li> 
 <li style="font-weight: 400">It is expected to transform blockchain payment experience forever and likely lead to more adoption.</li> 
</ul> 
Justin Sun, the creator of TRON, has revealed that his team is in the process of enabling gas-free stablecoin transfers in the fourth quarter of 2024. 
Per his <a href="https://x.com/justinsuntron/status/1809579898136326509">announcement</a>, the solution would only work on TRON in the beginning. But he plans to deploy it on Ethereum and all Ethereum Virtual Machine (EVM)-compatible public networks soon after.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Our team is developing a new solution that enables gas-free stablecoin transfers. In other words, transfers can be made without paying any gas tokens, with the fees being entirely covered by the stablecoins themselves. 
 — H.E. Justin Sun 孙宇晨 (@justinsuntron) <a href="https://twitter.com/justinsuntron/status/1809579898136326509?ref_src=twsrc%5Etfw">July 6, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Justin added that: 
“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.” 
<h3 id="span-style-font-weight-400-how-the-gas-free-stablecoin-transfer-would-probably-span-a-href-https-www-softwebsolutions-com-resources-smart-contract-in-blockchain-html-span-style-font-weight-400-work-span-a-span-style-font-weight-400-span">How The Gas-Free Stablecoin Transfer Would [Probably] <a href="https://www.softwebsolutions.com/resources/smart-contract-in-blockchain.html">Work</a>?</h3> 
Justin hasn’t provided much info on the technicalities of the solution. Normally, when you make a transaction on, say TRON or Ethereum, you need to pay gas fees to compensate for the computational energy required to process and validate it.&nbsp; 
<figure id="attachment_76272" aria-describedby="caption-attachment-76272" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-76272" src="http://bitcoinworld.co.in/wp-content/uploads/How-smart-contracts-work-424x300.webp" alt="" width="654" height="463" srcset="https://bitcoinworld.co.in/wp-content/uploads/How-smart-contracts-work-424x300.webp 424w, https://bitcoinworld.co.in/wp-content/uploads/How-smart-contracts-work-707x500.webp 707w, https://bitcoinworld.co.in/wp-content/uploads/How-smart-contracts-work-768x544.webp 768w, https://bitcoinworld.co.in/wp-content/uploads/How-smart-contracts-work.webp 780w" sizes="(max-width: 654px) 100vw, 654px">
 <figcaption id="caption-attachment-76272" class="wp-caption-text">
 How smart contracts work
 </figcaption>
</figure> 
&nbsp; 
Gas fees are often paid in the native cryptocurrency of the blockchain. So TRX for TRON and ETH for Ethereum. 
In the scenario described by Justin, instead of paying gas fees with the native token, the fees would be covered by the stablecoins being transferred.&nbsp; 
This means that if you’re sending USDT, a tiny portion of it will automatically be used to cover the transaction fees. 
<figure id="attachment_76273" aria-describedby="caption-attachment-76273" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class=" wp-image-76273" src="http://bitcoinworld.co.in/wp-content/uploads/Peer-to-peer-stablecoin-transfers-on-Ethereum-Tron-Avalanche-and-Solana-325x300.jpg" alt="" width="631" height="582" srcset="https://bitcoinworld.co.in/wp-content/uploads/Peer-to-peer-stablecoin-transfers-on-Ethereum-Tron-Avalanche-and-Solana-325x300.jpg 325w, https://bitcoinworld.co.in/wp-content/uploads/Peer-to-peer-stablecoin-transfers-on-Ethereum-Tron-Avalanche-and-Solana-541x500.jpg 541w, https://bitcoinworld.co.in/wp-content/uploads/Peer-to-peer-stablecoin-transfers-on-Ethereum-Tron-Avalanche-and-Solana-649x600.jpg 649w, https://bitcoinworld.co.in/wp-content/uploads/Peer-to-peer-stablecoin-transfers-on-Ethereum-Tron-Avalanche-and-Solana-768x710.jpg 768w, https://bitcoinworld.co.in/wp-content/uploads/Peer-to-peer-stablecoin-transfers-on-Ethereum-Tron-Avalanche-and-Solana.jpg 1024w" sizes="(max-width: 631px) 100vw, 631px">
 <figcaption id="caption-attachment-76273" class="wp-caption-text">
 Peer-to-peer stablecoin transfers on Ethereum, Tron, Avalanche and Solana.
 </figcaption>
</figure> 
&nbsp; 
Ideally, the solution will have to integrate a mechanism of some sort to calculate the equivalent amount of stablecoin needed to cover the gas fee.&nbsp; 
This is likely going to be based on the current exchange rate between the stablecoin and the native token. 
The solution will also probably be managed through smart contracts since they automatically handle conversion and payment of fees directly in stablecoins. 
So you see, these contracts would act as intermediaries in your transactions to ensure that the correct amount of fee (like say 0.00000001 TRX) is deducted and paid to validators/miners. 
<h3 id="span-style-font-weight-400-what-it-could-mean-for-validators-and-users-span">What It Could Mean For Validators And Users</h3> 
Now these validators will need to update their software to accept stablecoin payments for transaction processing, and it might involve changes at a fundamental level of TRON’s blockchain protocol. 
<figure id="attachment_76271" aria-describedby="caption-attachment-76271" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class=" wp-image-76271" src="http://bitcoinworld.co.in/wp-content/uploads/Execution-process-of-Ethereum-Virtual-Machine-533x300.png" alt="" width="712" height="401" srcset="https://bitcoinworld.co.in/wp-content/uploads/Execution-process-of-Ethereum-Virtual-Machine-533x300.png 533w, https://bitcoinworld.co.in/wp-content/uploads/Execution-process-of-Ethereum-Virtual-Machine-888x500.png 888w, https://bitcoinworld.co.in/wp-content/uploads/Execution-process-of-Ethereum-Virtual-Machine-1066x600.png 1066w, https://bitcoinworld.co.in/wp-content/uploads/Execution-process-of-Ethereum-Virtual-Machine-768x432.png 768w, https://bitcoinworld.co.in/wp-content/uploads/Execution-process-of-Ethereum-Virtual-Machine.png 1400w" sizes="(max-width: 712px) 100vw, 712px">
 <figcaption id="caption-attachment-76271" class="wp-caption-text">
 Execution process of Ethereum Virtual Machine
 </figcaption>
</figure> 
&nbsp; 
For it to support Ethereum and EVM-compatible chains, the solution will have to adapt to the different blockchain architectures for compatibility across all of them. 
Users won’t need to hold separate tokens to make stablecoin transactions, simplifying the process especially for those who primarily dabble in stablecoins. Or if you pay your employees with them. 
Lowering the cost of transactions would undoubtedly improve the entire experience on these blockchains. It will make it even easier for people to send and receive stablecoins, so it’ll probably lead to more adoption of them.

TRON To Enable Gas-Free Stablecoin Transfers In Q4 2024

目次

ItsBitcoinWorld

2024年7月8日公開の他の記事

Two Tokens To Hold In July Cardano and Mpeppe (MPEPE)

MoonBag Referral Program Makes It a Lucrative Option While Avalanche and Internet Computer Still ...

Bitcoin miner TeraWulf open to THESE mergers over “empire-building”

BlockDAG’s X Mining Series Excels with $3.6M Sales, Outperforms Amid Shiba Inu’s Decline and Risi...

U.S. House vote to overturn Biden’s SAB 121 veto set for Wednesday

Top Crypto Picks: BlockDAG’s Landmark $56.7M Presale, SHIB’s Burn Surge & LEO’s Price Power

ニュースレターを購読して暗号資産の最新情報を毎日入手！