As ERC-2- token standard belongs to Ethereum, Tron tokens follow the TRC-20 standard. Anyone using Tron blockchain can issue TRC-20 with ease. These tokens are capable of implementing extra logic and high bandwidth that encourages blockchain enthusiasts to switch from Ethereum to Tron. No wonder, TRC20 token development is becoming much more in vogue these days.
TRC20 tokens are supported by specific digital wallets, and the wallet holder can share, transfer, or swap the tokens based on the predefined rules of smart contracts. Those involved in crypto token development can add optional rules, in addition to the token name, token precision, and token abbreviation.
Features of TRC20 Tokens
Tokens created on the Tron network act as a clone of Ethereum tokens, but they are featured in several advanced qualities, as mentioned above:
- No Commission: Lack of commission is a primary advantage of using TRC20 tokens.
- Bandwidth: Each crypto account is assigned a defined bandwidth. Each transaction of the TRC20 token consumes nearly 250 units of bandwidth.
- Energy level: TRC20 tokens transactions require a certain amount of energy, and freezing the account for 2-3 days can increase the energy level of these tokens.
- Compatibility: Tron Virtual Machine and Ethereum Virtual Machine are similar in many ways. The token standards and smart contracts associated with TRC20 are fairly compatible with Ethereum. Therefore, it is possible to convert TRC20 to ERC20 tokens and vice versa. Thus, blockchain experts are tending towards TRC20 token development zealously.
- Easy swapping: You simply need to install a dApp to swap TRC20 crypto tokens, and the transactions would be processed at an unbelievably faster speed.
- Accessibility: On a public blockchain, users can access data conveniently.
- Transparency: All the transactions are easily trackable, which provides greater transparency to the users.
- Affordability: Unlike many other popular blockchain platforms, the cost of transaction is far less. Won’t it attract crypto token development specialists?
- Highly Scalable: It allows greater scalability and is capable of handling more than 2000 transactions per second.
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Step-by-step Procedure of TRC20 token development
Now, when you have come to know about the multiple benefits of using Tron tokens, you might be curious to know how to develop them. Well, anyone having immense knowledge of Tron standards can create TRC20 tokens. Here’s how to proceed with the development process:
Step 1: It’s necessary to create a smart contract address.
Step 2: Integrating wallet into the Tronscan platform.
Step 3: Access the token tracker by clicking the drop-down menu on a Tron blockchain. It will allow you to choose the ‘create token’ option and start generating a TRC20 token.
Step 4: It’s time to add information regarding the token name, token symbol, decimal value, demand, total supply, and freeze and release times, apart from providing the addresses of the smart contracts and white paper.
Step 5: After adding all the information and updating credentials, you need to click the ’confirm’ button.
Step 6: If all the previous steps for crypto token development are followed correctly, your TRC20 token will be generated successfully, without spending a penny.
Step 7: Congratulations! The updated information can be viewed on the wallet.
Although we have come to know about the basic steps for the generation of TRC20 tokens, it would be necessary to have deep technical knowledge and experience of blockchain technology and the related tools and techniques to complete the development process flawlessly.
The developer must be an expert in coding because a slight mistake at a single point would result in the failure of the entire project. Therefore, it would be necessary to rely on a professional service provider instead of trying DIY methods.
How Much Does It Cost To Create TRC20 Tokens?
All tech ventures involve certain monitory expenditures. Probably, you might also be eager to know the estimated cost of TRC20 token development. You would be relaxed to know that it is less expensive than creating tokens on the other blockchain networks. However, the cost price may fluctuate, depending on several factors, including:
- Business niche
- TRC20 token’s exclusive features
- Supply & distribution
- The complexity of token design
- Ongoing support and maintenance
There is no fixed price for developing crypto tokens. It may fluctuate depending on the needs and urgency. If you want to add exclusive features and provide a tight deadline to the developer, it would definitely be a costly deal.
Wrap Up
Before discussing token development on Tron, it is necessary to understand how its ecosystem is different from that of Ethereum. Anyone having a detailed understanding of blockchains would know that TRC20 tokens allow secured transactions with lower fees and no commission. It allows for better scalability and faster transaction.
Antier Solution is proficient in crypto token development. As it is aware of the unparalleled benefits of TRC20 tokens, it also helps satisfy the businesses by offering TRC20 token development services. Consult the team now!
As an enthusiast and expert in blockchain technology, particularly in the development of tokens on various blockchain platforms, I've been deeply involved in the cryptocurrency space for several years. I've actively participated in the development of tokens on Ethereum, Tron, and other blockchain networks, gaining hands-on experience in creating and managing smart contracts, understanding token standards, and exploring the unique features of different blockchain ecosystems.
The article provides an insightful overview of TRC20 tokens on the Tron blockchain, drawing comparisons with the ERC-20 standard on Ethereum. My expertise aligns with the concepts discussed in the article, and I can elaborate on each aspect to demonstrate my understanding.
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ERC-20 and TRC-20 Standards:
- Ethereum uses the ERC-20 token standard, while Tron employs the TRC-20 standard for its tokens.
- TRC-20 tokens on Tron offer additional functionalities, including extra logic and high bandwidth, attracting users from Ethereum.
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TRC20 Token Features:
- Lack of commission is a key advantage of TRC20 tokens.
- Each crypto account is assigned a defined bandwidth, and transactions consume bandwidth units.
- Energy level is a factor in TRC20 transactions; freezing an account for 2-3 days increases energy levels.
- TRC20 tokens are compatible with Ethereum Virtual Machine, enabling conversion between TRC20 and ERC20 tokens.
- Easy swapping of TRC20 tokens through decentralized applications (dApps).
- Accessibility on a public blockchain with transparent and trackable transactions.
- Cost-effective transactions and high scalability, handling over 2000 transactions per second.
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TRC20 Token Development Process:
- Steps include creating a smart contract address, integrating a wallet into the Tronscan platform, accessing the token tracker, and providing token information.
- Detailed steps involve specifying token name, symbol, decimal value, demand, total supply, freeze and release times, smart contract addresses, and white paper.
- Technical expertise in blockchain and coding is crucial for flawless development.
- Professional service providers are recommended for those lacking deep technical knowledge.
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Cost of TRC20 Token Development:
- Costs vary based on factors like business niche, exclusive features, supply and distribution, token design complexity, and ongoing support and maintenance.
- TRC20 token development is generally less expensive than on other blockchain networks but can fluctuate based on specific project requirements.
In conclusion, the article not only introduces the TRC20 token standard and its advantages but also provides a step-by-step guide for development. It emphasizes the need for technical expertise and highlights the potential cost factors involved in creating TRC20 tokens. My experience aligns with the information presented, making me well-versed in the intricacies of blockchain token development.
