TRON TRC-20 Token

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TRON TRC-20 Token
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TRC-20 Token

• Just as Ethereum has its own ERC-20 token
  standard
• At TRON, tokens are programmed according to the
  TRC-20 token standard
• As a public blockchain, anyone can issue their
  TRC-20 tokens using the same basic rules, which
  can interact with other apps running on the Tron
  platform.
• Ethereum and establish the role that TRC-20
  tokens can play in the broader blockchain
  ecosystem.

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Tron vs. Ethereum

• While there are many similarities between
  Ethereum and Tron, there are also some decisive
  differences.
• Like Ethereum, Tron uses a virtual machine called
  the Tron Virtual Machine (TVM) as a type of
  operating system for smart contracts running on
  the platform.
• TVM and Ethereum both use this same Solidity
  programming language.
• This compatibility is by design, as the Tron
  Foundation is intended to make it easy for
  developers to port existing apps and tokens to
  the Tron ecosystem.

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TRC20 token standard rules

• Like the ERC-20 token standard, TRC-20 token
  development must comply with a set of rules that
  include mandatory and optional elements.
• There are 3 optional provisions and 6 mandatory
  provisions.
• The token name is the full notation name of the
  token (for example, Tether).
• A token ticker is an abbreviation used for a
  token (eg USDT).
• Token precision is the smallest separable unit
  of a token, up to 1/18.

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Mandatory provisions

• Total supply refers to the maximum number of
  tokens that can be issued on the Tron platform.
• Balance Of returns the token balance of the
  user's Tron account.
• Transfer allows the transfer of tokens from the
  smart contract to the user's account.
• Approve allows other third parties, such as smart
  contracts, to transfer tokens.
• Transfer From allows another third party, such as
  a smart contract, to take a token from a user
  account and transfer it to another location.
• Allowance queries the remaining number of tokens
  that can be transferred by a third party.

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Apps and projects using TRC-20
Token Standard

• In early 2021, Ethereum-USDT trading volume was
  Ethereum, reflecting the fact that Tron-USDT was
  more popular than Ethereum-USDT and the high
  trading fees of Ethereum are a barrier for many
  users.
• when discussing Tron-USDT and Ethereum-USDT, the
  decentralization argument becomes almost
  meaningless.
• USDT users must trust Tether, the company that
  issues USDT, regardless of whether the
  transaction is on Ethereum or Tron.
• Revain is another project that uses TRC-20 tokens
  as part of its review platform. Revain operates
  as a blockchain version of TrustPilot.
• JUST is a variation of Maker DAI stablecoin based
  on Tron. Users can bet TRX tokens on
  collateralized debt positions to generate stable
  coins called USDJs that are fixed at the value of
  the US dollar.