In a recent podcast with Rachel Wolfson, Tron’s CEO, Justin Sun, emphasized on the importance of stablecoins in the cryptocurrency ecosystem and the objective behind the launch of the upcoming USDT-Tron stablecoin.
Rachel Wolfson, the host of ‘The Crypto Chick” podcast, asked Justin Sun to explain the significance of stablecoins in the crypto sphere.
Sun mentioned that stablecoins, unlike other cryptocurrencies, are not tied to the fluctuations of the market. He stated that most of the traders want to keep their assets free of drastic fluctuations in the crypto sphere, making stablecoins important.
“I think in the crypto ecosystem, the stable coin is the most important thing when we come to define the entire infrastructure of the whole industry.”
Justin Sun stated that the aforementioned partnership with the USDT would make transactions more reliable, faster, and cheaper in the future.
Sun explained that currently, USDT shared the same blockchain as Bitcoin. Hence, the transaction rate was very expensive and limited to only 300K per day. He claimed that these problems would be solved once the USDT-Tron stablecoin is launched and they migrate the majority of the USDT-Omni to USDT-Tron.
Additionally, the USDT-Tron would also benefit the entire community as it would decrease the congestion and poor user experience with the old stablecoin.
Justin Sun stated,
“The current solution is very obsolete which is extremely expensive, slow and unreliable for other stable coins. So once we gain the USDT-Tron infrastructure, I think the whole Tron community and the whole blockchain community will benefit from the move away from Bitcoin”.
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