With the advent of Tron’s MainNet, the world of Dapp’s and ICO’s have got a new life, thanks to its congestion free network and technologically superior tokens. While Tron is nascent it has two token standards to help Dapp developers launch their project on its MainNet the TRC10 and TRC20
TRC10 – The easy ICO standard
TRC10 was the first token standard on the Tron’s Mainnet and was released with the MainNet itself. TRC10 is widely supported and if anyone has come across any TRC token, chances are high that it will the TRC token. To carry out an ICO with the TRC standard token is extremely easy as it requires no programming knowledge of any kind. In fact, the only requirement here is having 1024 TRC in one’s wallet and going through a few easy steps mentioned on the TronScan page.
Another reason that makes TRC10 a favorite ICO token is its free in most cases, only costing bandwidth making it a perfect initial token to gauge the interest of the investment community. Most major wallets support the TRC10 tokens which make it easier for investors to subscribe to the ICO.
The only downside these TRC10 tokens have is that its supply cant be increased after the tokens have been created however they can be burned by sending them to TRON’s burn address.
TRC20 – The Ethereum Killer
With the launch of Tron’s Dapp Ecosystem, the Tron protocol became capable of providing support to Ethereum smart contracts, enabling developers to make the big switch from Ethereum to Tron. Tokens that were created on the Ethereum’s network were smart contracts based on the famous ERC20 token standard- which defined the rules on how the token should behave. This also made it easy for wallets as they did not have to handle each token differently. This gave birth to the TRC20 tokens– the equivalent of ERC20 on Tron’s MainNet.
As the world is aware the smart contracts provide endless opportunities and open the world to new possibilities which were not possible on TRC10 tokens. TRC20 is more complicated, harder to set up, and not as widely supported yet — but it is much more powerful and customizable.
Difference Between TRC10 and TRC20 Tokens
While both tokens have their specific use cases and learning curves, it is still interesting to see what each of these Token could do. Tabulating the Difference between TRC10 and TRC20 tokens (Source: Tron)
|Developers Learning Curve||Easy||Medium|
|Accessible by Smart Contract?||Yes||Yes|
|Accessible by API?||Yes||No|
|Lost Token Protection||No||No|
|GUI for ICO||Yes||No|
|Deposit from Contract Address||No||No|
|Token Structure Learning Curve (for Investors)||Easy (Common structure)||Medium (Need to learn each token structure before sending to contract address)|
|Token Structure Learning Curve (for Wallets)||Easy (Common structure)||Medium (Need to learn each token structure before sending to contract address)|
|Easy to Track||Easy – Built In||Need a 3rd-party platform to track|
|Decimal||Not Supported||Up to 18|
|In Development||TVM support are in developers||Compatible with ERC20|
|Transaction Fee||~ 1000 times lower than TRC20 (using API, not by smart contract)||~ 1000 times (dynamic) higher than TRC10|
|Transfer||Can use API to transfer, but costs bandwidth points; transfer in smart contract costs both bandwidth points and energy.||Energy & Bandwidth Points|
While both of the token standards are strong in their domain and use cases it’s up to the developers and projects teams to choose what suits them the best as each of them has its own benefit and shortcomings.
Which one do you think is the better of the two? Will Tron release another token standard or will continue with the two as time progresses? Do let us know your views on the same.
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