TrueUSD (TUSD) has started using Tron blockchain for generating TUSD, because of Tron advantage of low transaction fees. Tron currently has 26.6% share in the stablecoin market.
TrueUSD, operated and owned by TrustToken, started producing TUSD stablecoin on the TRON network. Before Tron, TUSD was using Ethereum, Binance Smart Chain and Avalanche blockchains. Trust Token team was extremely concerned about high fees on Ethereum, said that Tron could fix these high costs.
Justin Sun considered Trust Token team act as “wise decision”. Two days ago Justin sun welcome TUSD to join Tron Family, And now the stable coin is live on Tron blockchain.
?Welcome $TUSD to join #TRON family!
Stay tuned for more details of the #TUSD x TRON Collaboration in the future!$TUSD is the world’s most transparent #stablecoin, fully collateralized and independently attested live on-chain! https://t.co/U6yitIJsLQ
— Justin Sun? (@justinsuntron) April 7, 2021
TrueUSD stable coin is pledged with US Dollar with one-to-one ratio. High transaction fees and network blockages on Ethereum have become a problem for people trying to make small and medium-sized transactions with TUSD, according to a statement by TrueUSD.
In order to solve this problem, at one hand, the TrustToken management evaluated ETH Layer 2 technologies, on the other hand, decided to turn to alternatives such as TRON.
Stablecoins will continue to play an important role in the CRYPTOCURRENCY MARKET, said Justin Sun, founder of Tron and CEO of BitTorrent. Producing TUSD on TRON network is a wise decision.
According to CoinGecko data, TrueUSD has a market capitalization of $308 million, whereas the market value of USDT, the stable coin market leader, is $43.9 billion.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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