What is the TRC20 Token, on the TRON (TRX) network
What is the TRC20 Token, on the TRON (TRX) network

The TRC20 “token” has been used to issue derivatives of other cryptocurrencies, as in the case of the Poloniex exchange.

The TRC20 “token” is a technical standard used in smart contracts on the TRON (TRX) blockchain. In this protocol, new tokens are issued using the TRON Virtual Machine (TVM). The interesting thing about this is that it not only has the functions of the ERC20 of Ethereum (ETH), but that it is compatible with it.

A programmer who wants to issue a digital asset, with certain characteristics and functions, can use the TRC20 "token". This will be useful for transacting and trading on the TRON (TRX) blockchain. Whether you build decentralized exchanges , lending builds, decentralized finance builds, or games.

The most popular “token” issued on the TRC20 network is the Theter USDT, a stable coin that always maintains the value of one dollar.

trc20 token development service

The TRC20 token development is used in the developments available on the Tron Link

Issue TRC20 token

The user must be clear that the main network of TRON uses the TRX or tronix for the exchange, payments or to build on it. The network in which the TRC20 token runs is built on top of the first. The example of Theter (USDT), a company that issues stablecoin on different networks, is the most accurate to cite.

Just as Theter (USDT) exists on Ethereum, on EOS and on the OMNI network, it also exists on T RON (TRX) . In this case using the TRC20 token. The company that issues the stablecoin benefits from the ability to issue, hold and transfer value using the smart contract. These are free, transparent processes, and with zero transfer fees, as well as being highly scalable or fast.

Crossing blockchains

Using the TRC20 “token”, in the case of the cited example, that of Theter (USDT), leads the common user to implement decentralized applications built on TRON (TRX). Within its entire system, there are multiple options and payments to use any development are made within the standard.

The TRC20 “token” has been used to issue derivatives of other cryptocurrencies, as in the case of the Poloniex exchange. Within the network, other assets are locked, allowing different blockchains to be crossed. For example, bitcoin can be converted into a spending currency, or exchange, within the TRON (TRX) network, while retaining the same market value. By issuing a TRC20 “token”, previously backed with real bitcoins.

Create a TRC20 token is a simple and inexpensive process

To create a token on the TRC20 network, programming knowledge is required. It is not only about creating the smart contract, but the whole set of solutions around it. For those who master this area, the process is simple, as well as inexpensive. To issue a new TRC20 token, at least 10 TRX is required.

The programming user prepares his smart contract, with the name of his currency and the code. It deploys its TRC20 smart contract, takes it through a build process, and performs other technical steps to connect it to wallets. Then it performs the verification, validation and registration in the Tronscan.

In Trend

The Myths of Bitcoin Electricity Consumption

cheap and easy

The solutions in TRON (TRX) are efficient, compared to other networks in which smart contracts are used, essentially in spending. The user locks TRX coins to obtain energy and bandwidth, in addition to being able to vote on the network. Two resources that help avoid the very high commissions that exist in other networks that also use virtual machines.

For example

One of the most popular wallets in which the TRC20 "token" is used, in its different developments, is the Tron Link. In this application you will find a set of decentralized applications in which this currency is essentially used.

Among the most popular are Just Swap , a decentralized exchange. Just Lend and Tronlending to make and receive loans. Bankroll, Poloniex decentralized exchange, JUST, SUN and a diverse range of games running on TRON token development services (TRX).