In an exciting development, Tron Network founder Justin Sun has announced plans to introduce gas-free stablecoin transfers. This has sparked a lot of reactions with many applauding Tron’s latest proposed feature, while other users have criticized the late implementation of this upgrade.
Gas-Free Stablecoin Transfers to Begin by Q4 2024 – Justin Sun
in X Post Justin Sun said on Saturday that the team at Tron was working on a new upgrade that would allow users to send and receive stablecoins without paying gas fees.
In some context, gas fees are fees that accompany every transaction on the blockchain. For the transfer of stablecoins and most assets, gas fees are typically determined by the native token of each network, i.e. gas fees for stablecoin transactions on Tron are paid using TRX.
However, Justin Sun explains that the new solution will allow users to make stablecoin transactions without the need for TRX or any other native assets. Instead, the cost of these transfers will be covered entirely by stablecoins.
Furthermore, the prominent crypto figure stated that this new upgrade will first be introduced to the Tron blockchain before extending to Ethereum and other EVM-compatible public networks.
It is worth noting that while this feature does not eliminate the concept of transaction fees, it will likely offer lower gas fees for users who only transact in stablecoins. Commenting on the development, some users praised the Tron team for this “innovation.” Among these enthusiasts is Mark Lamb. He said:
Interest revenues fund lower remittance costs in the global south where there are not enough banks. Remitters and currency holders fund a highly profitable interest-collecting business. This is true innovation and the reason cryptocurrencies exist. Congratulations. @justinsuntron
Meanwhile, other users have criticized Tron for developing this solution so late as other blockchains, namely Celo and Internet Computer Protocol (ICP), already offer users a similar feature.
According to Justin Sun, gas-free stablecoin transfers are expected to launch in Q4 2024. The Tron founder believes that this feature could encourage large companies to offer stablecoins and thus increase the widespread adoption of cryptocurrencies.
Tron Network Thrives With Strong User Base Despite Market Volatility
In other news, Ben Sizloff, analyst at CryptoQuant, said: Reported The Tron blockchain has maintained a strong user base, with growth in the number of active users since the beginning of 2024.
Sizelove notes that this achievement was largely driven by the diverse applications on the Tron network in terms of payments, stablecoins, and digital assets. Additionally, the analyst notes that Tron’s demonstration of a resilient user base occurred amidst general market uncertainty accompanied by high selling pressure.
Featured image from Wikipedia, chart from Tradingview
