TRC-20 Token

The TRC-20 token standard allows for tokens to be created on the TRON network.

What Is a TRC-20 Token?

The TRC-20 token standard allows for tokens to be created on the TRON network. It defines the functions that need to be implemented so that a token can be accepted as a standard TRC20 token.
The TRC-20 standard is similar to the ERC-20 standard used for Ethereum tokens and is intended to be fully compatible with it.

For the TRC-20 protocol to work correctly, the token’s contract is required to implement several functions. There are three optional items and six required items that need to be defined in TRC-20 token development. 

The following are some of the functions that are used in TRON’s TRC20 implementation. 

Optional items:

  1. Name

  2. Abbreviation

  3. Precision

Required items:

  1. totalSupply

  2. balanceOf

  3. transfer

  4. transferFrom

  5. approve

  6. allowance

TRON Virtual Machine is a lightweight, complete VM. Its purpose is to offer millions of developers a custom-built system for an efficient, easy, safe, and scalable blockchain. 

Before TVM was launched on May 25th, 2018, TRON had already been working on some additional functions to improve the security and usability of the protocol. TVM makes TRON more secure and robust without compromising the high TPS (transaction per second). It also enables compatibility with Ethereum. The TVM will be fully compatible with Ethereum smart contracts by using its own pluggable smart contract engine. Ultimately, this compatibility will allow Ethereum developers to easily migrate their smart contracts onto the TRON network.

TRON blockchain is an open-source protocol serving the digital content distribution space. It extends its support for several blockchains and smart contract systems. These include Bitcoin, Ethereum, and many public blockchain networks. TRON offers a multiprotocol infrastructure to developers for application development in the digital entertainment industry, allowing users to benefit from smooth multiprotocol smart networks.

It uses its own cryptocurrency (TRX) to enable access to different services offered on its platform. Customers can pay using TRX for the services they use. The platform enables one-on-one interaction between consumers of content and the content creators.

The TRON network is secured by Delegated Proof-of-Stake (DPoS), which means that the stakeholders of TRX elect Super Representatives who are responsible for validating transactions and maintaining the network.