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.

Since the start of the year, TRON’s transaction volume has grown steadily, now surpassing 50 million transactions per week.

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

Swiss-based Chainsecurity recently completed a comprehensive security assessment of the TRON-Peg USD Coin system. The asset operates through a bridge mechanism, offering seamless interoperability between the TRON and Ethereum blockchains. Here’s a look at how it works:

To mint TRC-20 USDC on TRON, users first lock their Ethereum-based USDC in the TRON-USDCBridge smart contract. Once the transaction is confirmed, an authorized entity mints an equivalent amount of TRC-20 USDC on TRON. For added security, TRON uses a ratification mechanism, requiring multiple approvals for large transactions.

When users wish to transfer their funds back to Ethereum, they burn their TRC-20 USDC on TRON, initiating the release of USDC on Ethereum. This process mirrors the minting function, maintaining a balanced supply of USDC across both networks.

TRON’s recent developments underscore its commitment to advancing blockchain interoperability and offering versatile solutions for its growing user base. The launch of TRC-20 USDC strengthens TRON’s role in the stablecoin space 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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