TRON Achieves Major Milestone with Market Cap Soaring Past $16B, Launches TRON-Peg USD Coin (TRC-20 USDC)

TRON has achieved a major milestone with its market cap soaring past $16 billion, marking an all-time high. The network's transaction activity remains robust, consistently outpacing other Layer 1 blockchains.

TRON’s market cap has achieved a major milestone, soaring past $16 billion and setting a new all-time high. Despite the bearish crypto market trend, TRON has maintained robust network activity, consistently outpacing other Layer 1 blockchains in terms of transaction volume.

Since the beginning of the year, TRON’s transaction volume has been steadily increasing, and it now surpasses 50 million transactions per week. This high level of activity showcases the platform’s popularity and the demand for its fast and low-cost transactions.

TRON’s market cap has now surpassed $16 billion, setting a new all-time high for the blockchain platform.

In a further development, TRON DAO has officially launched TRON-Peg USD Coin (TRC-20 USDC), expanding its stablecoin offerings and enhancing cross-chain functionality. This new asset enables TRON users to transact with USD Coin (USDC) directly on the TRON network, with the reserves being held on the Ethereum blockchain.

1/ We've officially launched the TRON-Peg USD Coin on the TRON blockchain, opening new doors for cross-chain transactions and expanding our stablecoin ecosystem.

The TRON-Peg USD Coin system was recently subjected to a comprehensive security assessment by Chainsecurity, a leading Swiss-based blockchain auditing firm. The asset is designed to operate through a bridge mechanism, facilitating interoperability between the TRON and Ethereum blockchains. Here's a closer look at the asset and how it functions.

To mint TRC-20 USDC on TRON, users begin by locking their Ethereum-based USDC in the TRON-USDCBridge smart contract. Once the transaction is complete, an authorized entity mints an equivalent amount of TRC-20 USDC on TRON. For enhanced security, TRON employs a ratification mechanism, which introduces multiple approvals for large transactions.

When users want to transfer their funds back to the Ethereum blockchain, they burn their TRC-20 USDC on TRON, which triggers the release of USDC on Ethereum. This process operates in the same manner as the minting function, ensuring a balanced supply of USDC across both networks.

1/5 🧵 We recently conducted a security assessment of the TRON-peg USD Coin. The coin is going to be deployed on the @trondao network and be backed by USDC locked on @ethereum.

Below is more info about our review 👇https://t.co/O2ZXPm3nLd

These latest developments from TRON showcase the platform's commitment to advancing blockchain interoperability and providing diverse solutions for its growing user base. The launch of TRC-20 USDC strengthens TRON's presence in the stablecoin market and highlights the platform's ambitious roadmap for cross-chain capabilities.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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