Tron Tops Ethereum in USDT Usage Proportionally

2021-2-15 13:47

On a proportional basis, TRON punches above its weight when it comes to stablecoins such as USDT.

Although the majority of stablecoins utilize Ethereum, Tron has established itself as an alternative stablecoin platform. The Tron platform is significantly smaller than Ethereum by total users and market capitalization. However, it is competing pretty closely in stablecoin usage. To date, Tether has a $32 billion market capitalization, and over a third of all available USDT is on the Tron platform.

Users Want a Cheaper Transactional Alternative

Most decentralized applications and stablecoins were running fine on the Ethereum transaction until very recently. They still are operational, but the growth in defi usage is affecting throughput. Ethereum blocks are getting clogged with transactions. Users now have to pay exorbitant fees in order to interact. These fees recently clocked out at an average of over $20 per transaction, a new record for Ethereum.

More people are discovering blockchain. However, they don’t necessarily want to spend obscene amounts of money to interact on it.

Tron is popping up as an Ethereum alternative. Launched in 2017 by Justin Sun, Tron is an alternative smart contract platform. Ethereum is literally fifty times larger than Tron, with millions of more active users, but people have realized Tron is a viable USDT storage alternative.

Offering negligible fees of a few cents, more USDT is flocking to Tron. USDT on the platform now totals close to $12.5 billion. This is a substantial amount when considering both projects’ market capitalization. The volume testifies to what’s possible when Ethereum bogs down and established smart contract platforms can offer more efficient transactions.

Why Stablecoins Are so Important

Stablecoins came into existence in 2014 with the creation of USDT. Stablecoins offer a crucial use case in the blockchain ecosystem. They are usually backed by a physical asset or pegged to a specific price point. Stablecoins provide users all the benefits of blockchain technology, such as decentralized, permissionless, borderless monetary access, but without the massive price fluctuations of speculative cryptocurrencies.

Crypto offers a new means of financial sovereignty for users. However, someone looking to preserve their wealth may not be able to trust Bitcoin or Ether, which could easily drop 20 percent or more in one day.

These problems set the pace for stablecoins, which offer a non-volatile store of value. The most popular stablecoins, like USDT and USDC, are one-to-one pegged to the US dollar, meaning each coin will always be worth $1. This guaranteed price stability has created an excellent transfer tool and a buffer for traders looking to displace volatility without exiting the entire cryptocurrency market.

These types of currencies can be especially compelling to the unbanked and disenfranchised, giving them access to a stable, easy to purchase currency for the first time. As blockchain tech continues to spread across the globe, more people will utilize stablecoins. Tron is working to cement itself as one of the preeminent stablecoin transaction platforms.

The post Tron Tops Ethereum in USDT Usage Proportionally appeared first on BeInCrypto.

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ethereum tron → Результатов: 126


Фото:

Ethereum Grows Weaker As More Than Half Of Tether’s $62 Billion Supply Now Sits On Tron

Ethereum and Tron have had a history of contention. Offering similar services, the two blockchain networks have been going head to head in several measures of blockchain success. Even their founders, Vitalik Buterin of Ethereum, and Justin Sun of Tron have taken jabs at each other online severally. In the past year, the rivalry has […]

2021-7-24 23:47


Фото:

Джастин Сан готовится к официальному сотрудничеству с Ethereum и запуску USDT-Tron

Создатель и глава Tron Джастин Сан (Justin Sun) в интервью подкасту The Crypto Chick заявил, что видит в конкуренции с Ethereum потенциальные возможности для криптоиндустрии в целом, а также стимулы для появления на рынке лучшего продукта – и в этом году его проект начнет “официально сотрудничать” с Ethereum.

2019-4-8 10:12


Tron CEO Trolls (?) Vitalik, Teases Unlikely Ethereum Alliance

Tron founder and CEO Justin Sun recently announced on the CryptoChick podcast that his crypto project would be officially collaborating with Ethereum. Wait, what? Justin Sun: Tron Will Collaborate with Ethereum This Year Justin Sun appeared on an episode of Rachel Wolfson’s TheCryptoChick podcast this week where he discussed the launch of the Tether stablecoin on Tron.

2019-4-8 01:00


Ethereum [ETH] and Tron [TRX] Price Analysis: Coins steady as they ride the bull together

Many cryptocurrencies surged after the market rejoiced in the presence of the bull. However, the bull seemed to have left the market as major coins acquired new normalcy. While, Ethereum [ETH], the second largest cryptocurrency and Tron [TRX], the eleventh largest cryptocurrency, were battling it out in the coin market, Ethereum’s Vitalik Buterin and Tron’s […] The post Ethereum [ETH] and Tron [TRX] Price Analysis: Coins steady as they ride the bull together appeared first on AMBCrypto.

2019-3-29 12:30


Tron’s Justin Sun to Ethereum’s Vitalik Buterin; “Don’t think Ethereum transaction volume will ever catch up to TRON’s again.”

Cryptocurrency developers are not one to keep mute, especially when their token hit a major milestone. Justin Sun, the founder of the world’s 11th largest cryptocurrency by market capitalization is still in excitement over the consistency in trading price that has overthrown the world’s second largest cryptocurrency Ethereum.

2018-11-10 15:27


Сеть Tron в 80 раз быстрее, чем Ethereum

На днях Джастин Сан заявил, что скорость транзакций в сети Tron составляет 1200 т/с, что в 80 раз быстрее аналогичного показателя в блокчейне Ethereum. Такие успехи стали возможны благодаря новому партнерству с BitTorrent, сообщает The Daily Hodl.

2018-7-29 12:14


Разработчики Tron частично скопировали код Ethereum и других проектов

Исследовательская компания Digital Asset Research обнаружила, что код Tron был частично скопирован из других криптовалютных проектов. Строки кода взяли из Ethereum, при этом факт заимствования попытались замаскировать.

2018-6-22 16:00


Фото:

Обзор событий на рынках криптовалют за 16.01.2018

Серьезная коррекция на криптовалютном рынке. Исключением являются: NEO и Monero, все 20 топ криптовалют подешевели. Криптовалюты, которые потеряли вес более чем на 10 процентов: Ripple, Cardano, Bitcoin Cash, Stellar, EOS, Dash, Tron, Bitcoin Gold и Ethereum Classic.

2018-6-22 15:10


TRON Foundation сожжет 1 млрд токенов TRX после запуска основной сети

Разработчики криптопроекта TRON подтвердили, что в период с 21 по 25 июня токены TRX будут переведены с блокчейна Ethereum в основную сеть. Пользователи не смогут выводить токены с криптобирж, пока не будет сделан снимок балансов по их счетам, закончены работы по переводу средств и разморожены операции по их внесению и выводу.

2018-6-22 12:22