Aug 6, 2021
What is TRON?
TRON is a decentralized blockchain based platform just like Ethereum that was launched by an organization named TRON foundation in the year 2017. The main objective of TRON is to offer a decentralized internet without relying on any third-party providers.
As of now the internet is now under the influence of a few companies who hold the major shares over the data, web hosting and advertising. This appears to be a problem for several content creators. As a remedy to this, TRON offers an open platform where digital creators can share their content. This ecosystem has Dapps through which the creators can rewarded directly instead of selling it to a marketer. This infrastructure also enables the decentralized exchange of digital assets. Below mentioned are various token standards in which TRON tokens are created.
TRC-10 is a token standard that is supported in TRON blockchain. These tokens are developed on the TRON platform using the common web programming languages like Java, C++ etc. Just like other Ethereum standards token, this token standard can also be used in the services like wallet development services, smart contract and decentralized exchanges. These token can also be used in various industries like real-estate, healthcare, media, gaming and many more.
In Blockchain network, TRC20 token is popularly known Ethereum killer. This TRC20 is a token standard based on which a token is issued or created to implement the smart contracts that functions on the TRON blockchain. This token standard has been created based on the format of the famous Ethereum standard ERC20 that defines the behavior of a token. The token based on this TRC20 standard are used to create crypto tokens using TRON Virtual Machine. These TRC20 tokens also has the capacity to implement extra logic and has a high bandwidth capacity, thus made several people to switch from Ethereum to TRON.
TRC-721 is a token standard mainly used for creating and deploying NFTs on the TRON blockchain. This token standard is compatible with ERC-721. This TRC-721 has a unique feature that enables to transfer collectibles with its same value without making any changes. It is strongly believed that TRC-721 will undergo a massive adoption very soon.
Features of TRON Token Standards:
i) The TRON based cryptocurrency tokens can be swapped while using it in the Dapps, which makes the transactions faster.
ii) The users will have unlimited access of data, hence the transfer of data or cryptocurrency can be done without any inconvenience.
iii) All the transactions held here are public, which makes it easily trackable in case of any dispute.
iv) When compared to the transactions that happens in other popular blockchain networks, the cost per transaction is less.
v) It is highly scalable in nature and has the ability to handle over 2000 transactions per second.
If you are planning to get involved in the TRON blockchain, reach out to a professional token development company like SecurityTokenizer. We provide extended TRON Token Development Services to create and launch your own token on the TRON blockchain.
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