Tuesday, June 6, 2023

TRC-20 Token

by Hideo Nakamura
TRC-20 Token

TRC-20 Token Overview

TRC-20 tokens are a type of token created on the TRON blockchain network. They are similar to Ethereum’s ERC-20 tokens, but possess several key differences that make them unique in the cryptocurrency world. TRC-20 tokens were introduced in 2018 as part of TRON’s mission to create an efficient and cost effective way for developers to build decentralized applications (dApps). TRC stands for “TRON Request Code” and 20 is the version number.

Advantages of TRC-20 Tokens
• Low fees: Transactions fees are lower than those associated with other popular blockchain networks like Bitcoin or Ethereum, making it more cost effective for users who want to use dApps using this network.

High throughput: The TRON network can process up to 2,000 transactions per second, allowing users to take advantage of faster speeds compared to other blockchains. This makes it ideal for high volume operations such as trading platforms or payment systems.

• Easy integration: Developers can easily integrate their existing applications into the TRON protocol by creating a smart contract written in Solidity – one of the most popular coding languages used today in blockchain development..

Disadvantages of TRC-20 Tokens

• New technology: While there have been some successful projects launched through this platform, many people still view it as new technology and may be unwilling to invest or trust its security measures at first glance.

• Limited support: There is limited support available from third parties when building on top of the TRON protocol; however developers will find plenty resources and tutorials online if they need help getting started with their projects..

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