TRC20 is actually RC20USDT, a stablecoin channel jointly issued by TRON and Tether. Just like Ethereum has its own ERC-20 token technology standard, so do many other blockchains. In Tron On, the tokens are programmed according to the TRC-20 token standard. As a public blockchain, anyone can issue their own TRC-20 tokens using the same basic set of rules, and their tokens can interact with any other application running on the Tron platform. Many investors still don’t understand what TRON TRC20 means? Let the editor explain TRON TRC20 in a simple way.
TRC20 is a stablecoin channel jointly issued by TRON and TEDA company Tether. Compared with traditional Omni-USDT and ERC20-USDT, TRC20-USDT has better transfer fees and transaction confirmation speed. Significant improvements.
In terms of fees, TRC20-USDT enables free transfers. Compared with the USDT withdrawal fee based on the Omni protocol, which ranges from 4 to 10 US dollars, the ERC-20 fee is between 1 US dollar and 5 US dollars, while the withdrawal fee of TRC20-USDT is 0. This means that users can enjoy fee-free withdrawal services from exchanges.
USDT issued based on the TRON network has obvious advantages in transaction confirmation speed. Since the TPS of the Tron network can reach thousands of levels, transactions can be confirmed within seconds, far exceeding the Omni and ERC20 protocols. This extremely fast transfer speed can meet the diverse needs of stablecoin users, while also avoiding the risk of damage to investors' interests due to network congestion.
The TRC-20 protocol is an improved version based on the ERC-20 protocol and has received wider community support. Compared with ERC-20, the TRC-20 protocol can not only run smart contracts that support TRON, but is also compatible with Ethereum's smart contracts. This makes it easier for developers to migrate Ethereum smart contracts to the TRON mainnet, while also providing higher flexibility and greater freedom.
The TRC-20 protocol, complementing the TRC-10 protocol, can inject more energy into the TRON network protocol. In particular, the TRC-20 protocol is able to implement additional logic functions that cannot be achieved by the TRC-10 protocol. This makes TronLink wallet a platform that fully meets the needs of users in the global TRON community. Bobo Wallet already supports all TRX, TRC-10 and TRC-20 currencies in the TRON ecosystem.
On-chain transfers of TRC20-USDT are also free. Data shows that Omni is the earliest issuance network adopted by USDT and has the highest handling fees, followed by Ethereum handling fees. Each transfer requires a gas fee of US$0.06-0.7. However, such expensive handling fees can no longer meet users' growing demand for transfers. Therefore, one of the important reasons why TRC20-USDT is so popular.
The above content is the editor’s popular explanation of what TRC20 means. There are many similarities between Ethereum and Tron, as well as some key differences. Tron uses a virtual machine TVM as the operating system for smart contracts running on the platform, similar to Ethereum. TVM also uses the same Solidity programming language as Ethereum. Therefore, tokens and smart contracts issued on Tron are fully compatible with Ethereum. This compatibility is designed to allow developers to easily port existing applications and tokens into the Tron ecosystem, which is also the goal of the Tron Foundation.
The above is the detailed content of What is TRON TRC20? Briefly explain the meaning of TRC20. For more information, please follow other related articles on the PHP Chinese website!