TRC-20 Wallet: Understanding & Difference With TRC10 & ERC-20 (2024)

Those who have been involved in the world of crypto assets for a long time may already be familiar with the term TRC20.

However, TRC20 is an important term for beginners to know and understand.

Besides TRC20, there is also another term, namely ERC20.

So, what’s the difference between the two?

So, to learn more about what TRC20 Wallet is and how it differs from ERC20, see the full review below.

What Is TRC-20?

The definition of TRC20 is a token standard on the Tron blockchain network that serves to implement tokens with the Tron Virtual Machine (TVM).

Tron is a blockchain-based project designed to use a proof of stake (PoS) mechanism to solve scalability issues.

The TRC20 token is highly compatible with ERC20 on the Ethereum blockchain network.

Standard users of this token will be helped in terms of transactions safely and quickly and have lower transaction fees.

This TRC20 token can also be considered an improved version of the previous TRC10 token.

This is because the energy level and bandwidth capacity of the TRC20 token are higher than the TRC10 token.

The difference between TRC20 and TRC10

What is the difference between TRC20 and TRC10?

The fundamental difference lies in the creator, and in this case, the TRC10 token is created by its network and is widely available on the Tron mainnet.

That means, when compared to ERC20, TRC10 makes application programs and tokens much simpler.

This is because the TRC10 token is easier for anyone to make.

Those who don’t know programming languages can also make one.

Unlike TRC20, TRC10 does not depend on Tron Virtual Machine or TVM.

However, TRC10 is compatible with all major crypto wallets on the crypto asset market.

Thus, investors and traders can use it easily.

In summary, TRC10 is a technical token standard, while TRC20 is a technical standard used for smart contracts on the Tron blockchain network.

The following are the points of difference between the TRC20 and the other TRC10s:

• TRC10 can be accessed through the API (Application Programming Interface).
• When compared to TRC20, transaction fees for TRC10 are known to be 1,000 times lower.
• Compared to using TRC20, more bandwidth and energy will be expended when transferring and depositing TRC10 to a smart contract.

For information, the role of bandwidth is to assist users in making Tron transactions.

On the other hand, energy is needed to process Tron’s smart contracts.

Therefore, users will usually choose to lock Tron to generate bandwidth and energy rather than paying gas fees to perform these tasks.

TRC20 linkage with USDT

TRC20 is related to USDT. The reason is that USDT is a stablecoin with a value in line with the USD issued by Tether on the TRON network.

Later, this token can complete storage, transfer, and issuance via the TRON smart contract.

The process is completely free and transparent, with instant delivery.

In addition, TRC20-based USDT can help ease the interoperability process with TRON-based protocols and Dapps or decentralized apps.

In addition, this USDT will also help users to transact, and exchange pegged currencies on all TRON networks.

Several world-renowned crypto-asset exchanges are known to support TRC20-USDT.

Ultimately, the TRC20-based USDT will enhance the TRON ecosystem, bringing more liquidity to the decentralized exchange (DWX), providing a more convenient platform for business partners and institutional investors, and a better general store of value.

The difference between TRC20 and ERC20

TRC20 and ERC20 certainly have some differences, and the most basic is that TRC20 is a token on the Tron blockchain network, while ERC20 is a token belonging to the most recognized Ethereum blockchain network.

Below are some other differences between TRC20 with ERC20, which are as follows:

1. Transaction speed

Holders of crypto assets will usually look for the transaction/transfer speed that the blockchain can provide.

This is important for transferring crypto investment and trading profits. Thus, funds from crypto can be stored more safely or used for other purposes.

Usually, many investors will transfer their profits to other wallets as a form of long-term investment.

Therefore, transaction speed is important to avoid waste when making a profit.

If judging in speed, Tron looks superior to the Ethereum blockchain.

That’s because Tron blockchain transactions only take seconds to minutes.

On the other hand, transactions on the Ethereum network will usually take minutes or hours.

In addition, the transaction speed also has an impact on the ability of these two networks to handle the number of transactions per second.

Tron is known to be able to handle around 2,000 transactions per second, while Ethereum is around 25 transactions.

Therefore, in terms of speed, TRC20 is faster than ERC20.

2. Transaction fees

Next, the difference between TRC20 and ERC20 can be seen in terms of transaction costs to pay for the gas fees used in the transaction process.

This cost must also be considered because this can affect how much the crypto owners being transferred reduced.

A crypto penny will also be very influential in the determination of the blockchain.

In this case, Tron is also known to be superior to Ethereum.

This happened because of the problem of Ethereum gas costs which soared due to an increase in users.

However, the cost can change at any time according to prices and network congestion levels.

Conclusion

TRC20 is a token standard on the Tron blockchain network that implements tokens with TVM or Tron Virtual Machine.

Tron is a blockchain-based project designed to use a proof of stake (PoS) mechanism to solve scalability issues.

The difference between TRC20 and TRC10 can be seen from the manufacturer and several other things, namely:

(1) TRC10 can be accessed through the API (Application Programming Interface)

(2) when compared to TRC20, transaction fees for TRC10 are known to be 1,000 times much lower, and

(3) TRC10 transfers and deposits to smart contracts can absorb greater bandwidth and energy than using TRC20.

Meanwhile, the differences between TRC20 and ERC20 can be seen from the blockchain network used, transaction speed, and transaction fees.

Let’s Start Investing in Crypto Assets

Do you understand now what TRC20 is and how it differs from ERC20?

To buy Tron crypto assets, check the INDODAX Market page first.

Besides that, for those of you who still don’t have the INDODAX application, you can download the INDODAX application right now.

Furthermore, you can immediately enter the INDODAX market and transact buying and selling crypto assets via the INDODAX application.

Currently, the latest version of the INDODAX application is known to provide many features, both for iOS and Android users.

Later, INDODAX application users will find transacting directly from their smartphones easy.

On the other hand, for those of you who want to learn the ins and outs of crypto assets, you can learn it at INDODAX Academy.

Come on, start trading right now!