• ChainwireMessari released two reports on the State of TRON and the State of USDD for Q4 2022.
• The report highlighted that USDD saw continued growth in Q4 2022, driven by its stability, low volatility, and ease of use.
• The second report analyzed the overall performance of TRON, which was designated as the official protocol for Dominica’s national blockchain infrastructure.
Overview
ChainwireMessari, a leading provider of blockchain research and data analysis, has released its quarterly reports on the State of TRON and the State of USDD for the fourth quarter of 2022.
State Of USDD
Their first report, „State of USDD Q4 2022,“ showcases performance of USDD, a stablecoin pegged to US dollar managed by the TRON DAO Reserve. This growth was primarily driven by increasing demand for stablecoins as safe haven for investment and cross-border transactions. Key advantages include stability, low volatility and ease of use which have made it an attractive option for individuals and institutions alike. Wallets on TRON holding USDD had only 8% increase in Q4 while TRX balances in TRON DAO Reserve remained same from Q3 to Q4. Partnerships with Travala (travel booking platform) which now accepts USDD payment are indication towards growing adoption.
State Of Tron
The second report – “State Of Tron Q4 2022” – analyzed performance of public open-sourced blockchain network using Delegated-Proof-Of-Stake consensus mechanism powered by Tron Virtual Machine (TVM). Unlike Ethereum it uses energy & bandwidth instead if gas for validations & offers developers cheaper smart contract execution & Solidity is programming language used by Tron. Commonwealth Of Dominica designated Tron as official protocol for its national blockchain infrastructure & approved seven new tokens previously issued on Ethereum or Binance Chain to be reissued on Tron Blockchain during this period while ETH transactions fees remain higher than TVM’s transaction fees since launch making it more attractive to developers looking to switch from Ethereum ecosystem due to cost savings in development & deployment.
Advantages Of Usdd And Tron
The key advantages offered by both USDD and TRON are their stability, low volatility and ease of use which have made them attractive options for individuals & institutions alike. In addition, lower transaction costs compared to Ethereum makes TVM more attractive to developers looking to switch from the Ethereum ecosystem due to cost savings in development & deployment .
Conclusion
In conclusion , both USDD & TRON have seen steady growth despite crypto winter primarily due their advantages such as stability ,low volatility & ease if use which make them attractive options . Moreover , lower transaction costs compared with Ethereum makes TVM more appealing .