Recently, the blockchain cross-border payment product Shell launched by Trion Lab has been updated. ERC20-USDT has been deployed, and the entire network supports EUSDT and USDT dual-channel operation. Thanks to the high expansibility of early product design, Shell has perfectly supported the EUSDT channel. Whether Shell will support more stable currencies in the future requires our continued attention.
According to insiders, the reason why Shell has a preference for stablecoins, especially USDT, is that the current development of the blockchain industry is uneven, and there is basically no economic ecology at all for large and small altcoins. Although “mainstream coins” such as Ethereum have also built a unique ecology, the underground asset network that Bitcoin relies on is too non-mainstream, and it is almost impossible to cultivate the habits of the general public. Although Ethereum once relied on Centralized financing has become a hard currency in the digital world. However, with the unsustainable financing model and subsequent DApp stories failing to go on, it has basically faded out of the mainstream society’s vision. Regardless of the market’s bulls and bears, users have a need for stable coins. When the market changes from bulls to bears, investors will convert the digital currency in them into stable coins and wait and see; when the market changes from bears to bulls, investors will Fiat currencies need to be converted into stablecoins and used as a springboard to enter. Although the scenarios are different and the demand is also different, at least for now, many people have formed a dependence on stable coins in specific scenarios and cultivated initial usage habits. USDT, as the representative currency of the stablecoin, has now rushed to the 4th place in the cryptocurrency market capitalization ranking, second only to BTC, ETH, and XRP, and just two years ago, it ranked outside 50. The sudden emergence of USDT is undoubtedly a reflection of users’ high trust in USDT. Trust is the first element of currency circulation. Trion Lab works directly with Tether to use USDT as the core exchange asset, which is undoubtedly the best choice. USDT holders can directly become Shell’s super nodes and enjoy the bonus of the Shell ecosystem construction.
The basket of assets behind Libra proposed by Facebook, as an anchor asset of Libra, is also a stable currency in nature, but in addition to regulatory obstacles, the withdrawal of partners and other factors, it has been repeatedly exposed recently The scandal of Facebook information leakage, whether Libra can finally reach the end, also deserves our attention. In comparison, the shell that can get investors ‘trust without issuing coins is more worthy of investors’ attention at the operational level. As the emerging force of blockchain cross-border payment, the development of Shell will become the compass of the blockchain cross-border payment industry.
Shell’s mainnet has been running for more than 2500 hours so far, and there are more than 8,000 super nodes on the entire network, with branches around the world. After the EUSDT channel was deployed, the total number of orders increased rapidly. As of now, the total number of orders on the entire network exceeds 1.5 billion, most of which are cross-border payment trade orders of multinational companies, which improves the efficiency of cross-border payments while reducing the cost of funds for cross-border payments, and promotes the development of global economic trade.