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 in the process of facilitating gas-free stablecoin transfers in the fourth quarter of 2024.
In accordance with his declaration, the solution would initially be functional exclusively on TRON. However, he intends to implement it on Ethereum and all Ethereum Virtual Machine (EVM)-compatible public networks in the near future.
Justin also stated that: “I am of the opinion that the utilization of comparable services will significantly facilitate the deployment of stablecoin services on the blockchain by large corporations, thereby enhancing the widespread adoption of blockchain technology.”
Justin has not provided a significant amount of information regarding the technical aspects of the solution. Typically, gas fees are required to recompense for the computational energy necessary to process and validate a transaction on a platform such as TRON or Ethereum.
Gas fees are frequently payable in the blockchain’s native cryptocurrency. So TRX represents TRON and ETH represents Ethereum.
Justin’s scenario involves the transmission of stablecoins to cover the gas fees, rather than the native token.
This implies that a small portion of the USDT you send will be automatically reserved to cover transaction fees.
In an ideal scenario, the solution will incorporate a mechanism that calculates the equivalent quantity of stablecoin required to cover the gas charge. The current exchange rate between the stablecoin and the native token is the most probable basis for this.
The solution will likely be administered through smart contracts, as they automatically handle the conversion and payment of fees directly in stablecoins.
Therefore, these contracts would function as intermediaries 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 take stablecoin payments for transaction processing. This may necessitate modifications to a fundamental level of TRON’s blockchain protocol.
The solution must be able to accommodate the various blockchain architectures in order to ensure compatibility with Ethereum and EVM-compatible chains.
Users will no longer be required to maintain distinct tokens in order to conduct stablecoin transactions, which will facilitate the process, particularly for those who are infrequent stablecoin users.
Reduced transaction fees would unquestionably enhance the overall experience on these blockchains. Therefore, it is probable that the adoption of stablecoins will increase as a result of the increased ease of sending and receiving them.
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