Basics of Tron (Part 33) : TRC-20 Tokens
Intro
In our previous tutorial post, We have learned about TRC-10 Tokens. We have gone through the feature and reasons of the creation of TRC-10 Token in Tron Blockchain. We know that the TRON is a public blockchain. So here is the facility of developers to work with Tron. For such kind of works like Decentralized Finance, ICO we need some tokens with some other features than TRC-10 token. It is possible with TRC-20. Let’s go through TRC-20 in details in this tutorial post.
What is TRC-20:
Tron Blockchain based TRC-20 is a technical standard for tokens. It is a more advanced and feature-rich token standard than TRC-10. It is used for a variety of purposes like creating decentralized finance (DeFi) applications, launching initial coin offerings (ICOs) etc. TRC-20 tokens are a type of cryptocurrency that operates on the TRON blockchain. They are designed to be compatible with TRON's smart contract platform. They offer a more advanced set of features than TRC-10 tokens. TRC-20 tokens can be used for a variety of purposes like representing digital assets.
Benefits of TRC-20 Tokens
TRC-20 tokens have a more advanced set of features than TRC-10 tokens like smart contract functionality and the ability to perform complex transactions. TRC-20 tokens are compatible with TRON's smart contract platform. So a wide range of users have access on it. TRC-20 tokens are efficient, fast to transfer and they are less expensive to create and maintain than other token standards. So it is basically a ideal for projects that are just starting out or have limited resources.
Uses of TRC-20 Tokens
DeFi Applications
ICOs
Stablecoins
Rewards and Incentives
Examples of TRC-20 Tokens
USDT
WINk
JUST
BitTorrent (BTT)
TRX
These are just a few examples of TRC-20 tokens on the TRON network. There are many more tokens that are being developed and used for a wide range of purposes, including decentralized finance (DeFi), gaming, and more. TRC-20 tokens are a versatile and powerful tool for creating and managing tokens on the TRON network.
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