Currently, one of the blockchain networks with the fastest growth is TRON. This blockchain network was established in 2017 with the majit purpose of facilitating the development and deployment of decentralized applications.
Like other blockchain networks like Ethereum and Binance, TRON promotes the use of smart contracts and token standards, which serve as the foundation for its native token, TRX.The TRON Token Development uses a number of different token standards, including TRC20, TRC10, and TRC721.
If you are planning to launch any of the TRX tokens, this blog is the right place for you. Here through this article, we will discuss the features and advantages of TRON and will also provide you with a detailed guide of TRC20 Token Development Process.
What is TRON and How Does it Work?
Tronix, or TRX, is the cryptocurrency used by the decentralized blockchain network TRON. Tron was established in 2017 by the Tron Foundation, a nonprofit organization with its headquarters in Singapore. To host a world entertainment network for the economically priced interchange of digital content is the main purpose of this blockchain network.
Tron, which was initially mainly advertised in Asia, is now widely gaining popularity at the global level. The website had more than 50 million accounts as of August 2021 at worldwide.
A compact, full-featured virtual computer created specifically for the TRON ecosystem is called the TRON Virtual Machine (TVM). Its objective is to deliver a customized blockchain system that is effective, reliable, useful, secure, and scalable. Smart contracts are utilized to generate tokens that are completely ERC-20 compliant and TVM compatible using the TRC-20 token standard.
The architecture of TRON also includes the application, core, and storage layers. The consensus, account management, and smart contracts are the several elements that make up the core layer. To obtain consensus, TRON employs a delegated proof-of-stake (DPoS) consensus method.
On TRON, a virtual machine built on stacks and an efficient instruction set are both used. TRON’s smart contracts are written in difficult programming languages like Solidity. Block Storage and State Storage are other components of TRON’s distinctive distributed storage protocol. To better fulfil the demand for diverse data storage in the actual world, the idea of a graph database was introduced into the design of the storage layer.
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Features of TRON Token Development
Some of the major features of TRON Tokens are as follows:
- Smart Contract Based
It is one of the major feature of TRON tokens that these crypto tokens are smart contract based which ensures that the traders can be able to do the decentralized transactions.
- Transparency
It would be able to provide reliable and transparent transactions because of its decentralized structure. Because there wouldn’t be any middlemen, more users would be attracted to do their transactions.
- Security Features
These tokens will have high security features including two-factor authentication, end-to-end encryption, KYC support, etc.
- Scalability
Highly scalable and capable of handling additional transactions without slowing them down. With this feature multiple traders can do transactions at the same time without compromising with the speed.
- Inter-Operability
As a result of the interoperability of tokens created on the TRON blockchain, cross-chain compatibility is made possible via TRON Token Development.
- Solidity Programming Language
TRON Token Development enables you to create Ethereum-compatible smart contracts using Solidity programming language.
Difference Between TRC10, TRC20 and TRC721 Token
Three token standards are used by TRON: TRC10, TRC20, and TRC721. Each TRON Token Standard has distinctive properties that support the creation of various crypto tokens. The main differences between all of these TRON Token Standards are listed below in the table.
| Basis | TRC10 | TRC20 | TRC721 |
| Interface Customization | No, interface customization is not present. | Yes, interface customization is present. | Yes, interface customization is present. |
| Smart Contracts Accessibility | These tokens are based on smart contracts. | TRC20 tokens are based on the smart contracts. | TRC721 tokens are also based on smart contracts. |
| Token Structure Learning Curve | Easy: Due to common structure of tokens | Medium: You must learn the structure. | Hard: As every token will be having unique structure. |
| Transaction Fees | Lower than TRC20 tokens. | Higher than TRC10 tokens. | Same as TRC20 token. |
| Resources | Low Resources | High number of resources | High number of resources |
| Development | The TVM support will be fully in the hands of developers. | Compatibility with ERC20 tokens. | Compatible with ERC721 tokens. |
What is TRC20 Token? How to Create TRC20 Token?
The TRC20 coin is made up of fully functional smart-contract based tokens that are very useable. TRC-20 coins, which adhere to ERC20 standards, are TRON’s native tokens.
Since TRC20 standards seek to provide straightforward, scalable, and rapid transactions, they make payments quick and simple. The code of the ERC20 token can be upgraded to add trustworthy activities and has a sizable bandwidth capacity. As a result of these advantages, a large number of users have switched to the TRON blockchain.
To build a TRC20 token, specific steps must be taken. The following is a brief description of these steps:
- Step 1: This would be the first step in which you will be creating your smart contract address. After creating your smart contract address, programme the contract in accordance with your company’s regulations.
- Step 2: After the smart contract has been created, go to the TRON website and connect your wallet to the Tronscan system.
- Step 3: Choose the Create token option from the drop-down menu by clicking the token track option to start producing TRC20 tokens on the Tron blockchain network.
- Step 4: A dialogue box is then used to request the token’s parameters, such as its name, symbol, decimal value, total supply, demand, and freeze and release times. Enter the details needed for your company’s organizational structure here.
- Step 5: After inputting all relevant data and changing credentials. Click Confirm to create TRC20 tokens, and then you can sell your tokens on the market.
All of these steps will involve a great deal of technicalities and if you are not familiar with them, even a tiny error could cause the project to fail altogether. We advise hiring a token development company that will create the greatest tokens with excellent functionality.
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Is TRC20 Cheaper than ERC20? Which is Better ERC20 or TRC20?
Yes, TRC20 tokens are cheaper than ERC20 tokens due to less gas fees of the former as compared to later. The gas fees of ERC20 will be more than $30 which is high as compared to TRC20 tokens that have a gas fees of more than $15.
TRC20 is better than ERC20 due to many reasons. The one of the major reason has been mentioned above which is related to its gas fees. TRC20 token’s gas fees is less than ERC20 token’s gas fees. Also, the block verification speed of ERC20 is 15 seconds which is higher than TRC20 tokens that have block verification speed of 3 seconds.
How Much does it Cost to Create TRC20 Token?
Every new business has a set budget for operating expenses. Do you intend to launch your TRC20 token but are holding off because you don’t know how much it will cost? Are you interested in learning about the cost to create TRC20 token?
Well, the exact price will depend upon various factors such as domain of your business, number of tokens you want to issue, complexity of the project, blockchain developer you will be hiring and features you want to incorporate etc.
Although, we can give you an idea of the approximate cost to create TRC20 token that will be anywhere between $500 to $1500.
Why Choose Coin Developer India for TRC20 Token Development?
Leading TRON Token Development Company, Coin Developer India provides its services on a global scale. This company’s staff of blockchain experts is very skilled at offering its clients the best blockchain solutions. They have knowledge and expertise in creating tokens that adhere to the TRC10, TRC20, and TRC721 token standards.
Our developers have extensive experience in the blockchain business, making the TRC20 Token Development Services we provide the best on the market. Since we are specialists in creating customized TRC20 Tokens, you can add or remove any feature in accordance with your company’s needs.
Our services are reasonably priced, and we have a reputation for prompt delivery, helping to ensure that your project is completed on time and that all of your business objectives are met.
Call & Whatsapp : +91 7240607737 | Telegram: @Coindeveloperindia | Email: [email protected]
