TRON is one of the leading blockchain networks in the crypto space. Creating TRC20 tokens on the TRON blockchain can benefit you in multiple ways, from popularizing your platform to raising funds. While many altcoins have been introducing their decentralized tokens, it is the turn for the smart contract tokens to introduce one. There are many well-known smart contract crypto tokens in the market.
What is the TRC20 token?
TRC20 token is a token standard of a TRON network. This network creates this standard to allocate certain principles to the smart contract applied to that token. The principles differ from one standard to another. To cut it short, the token standard of the TRON coin helps to create TRC20 token in the implementation of the smart contract accordingly.
Benefits of TRC20 Tron token:
Certain things make the TRC20 token more effective, some of the benefits of the TRON token (TRC20) are discussed below:
1. No commission — The main advantage of the TRC20 token over the TRC10 is the absence of commissions. No commission is preferred by the TRC10 token.
2. Bandwidth — Fixed bandwidth limitations are given to each account. For example, a general account will be given a maximum of 5000 bandwidth limitations. Each transaction or trade-in TRC20 will use an average of 250 units of bandwidth.
3. Energy— Similar to the Bandwidth, the TRC20 will gather a particular amount of energy for conducting the transactions that come with certain limits. For every transaction, a certain amount of energy is spent. The energy can be further increased by freezing the account for 2 to 3 days to regain the energy level of the TRC20 tokens.
How to create a TRC20 Tron token?
Creating a Tron TRC20 token is not a difficult task.
Firstly you should make sure that you have made a few things right:
- Create an address with a smart contract if you want to construct a TRC20 token. If you are doing TRC10, then there is no need for a smart contract.
- Connect your wallet to the Tronscan platform that can be found in the top right corner. Make sure that you create your Tron token using the Tron blockchain.
- Click the Blockchain drop down where you can find the token tracker option. This is the one that has a ‘create token’ menu where you can create a Tron TRC20 token.
- You have to add further details about the requirement of the token — supply, the demand of the tokens, worth of a token compared to TRON, freeze time and release time of the token, and all other information regarding the smart contract address, white paper address, etc.
- If it is done correctly, your TRC20 token is ready. It does not carry any fee for creating TRC20 tokens as it has a smart contract address.
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