Understanding TRON Token Creation Standards

Published in

Coinmonks

3 min readJun 12, 2024

In the dynamic landscape of cryptocurrency, the TRON blockchain network has emerged as a prominent platform for creating decentralized applications and issuing custom tokens.

If you’re an investor, developer, or enthusiast and are willing to explore the vast opportunities within blockchain technology, understanding the intricacies of TRON token development plays an essential role.

In this blog, we’ll talk about the fundamentals of TRON token standards. By the end, you’ll gain a solid understanding of how this blockchain technology empowers token creation.

So, let’s get started!

An Overview of TRON Tokens

TRON tokens are built on the TRON blockchain, which is designed for creating and deploying dApps and smart contracts. These tokens represent various assets, such as cryptocurrencies, utility tokens, or digital assets.

TRON’s token ecosystem operates on its native cryptocurrency, TRX, and utilizes its unique token standards, such as TRC-10, TRC-20, and TRC-721. The creation and management of TRON tokens are facilitated by TRON’s robust infrastructure and growing ecosystem, making it a compelling choice for entrepreneurs to develop TRON-based tokens.

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Key Functions of TRON Tokens

TRON tokens serve several key functions within the TRON ecosystem, such as:

Transaction Fees: TRON tokens are used to pay for transaction fees on the TRON blockchain. Whenever a user initiates a transaction, smart contract execution, or any other operation on the TRON network, they need to pay a small amount of TRX as a fee.
Voting Rights: TRON token holders have the ability to participate in the governance of the TRON network through voting. By staking TRX tokens and voting for SRs, users can influence the direction of the network and earn rewards.
Token Issuance: TRON provides a platform for developers to create and deploy dApps. TRON-based tokens are often used as the native currency within these DApps. Developers can issue their own tokens on the TRON network, which can be used for various purposes within their specific applications.
Incentives and Rewards: The TRON Foundation initiates incentive programs and rewards for participants in the ecosystem. These incentives are often distributed in the form of TRON tokens, encouraging users to contribute to the network’s growth and development.

TRON Token Standards

TRC-10 Tokens

One of the most frequently used TRON-based tokens is TRC-10. That’s because these are quite easy and quick to develop. It is a popular choice among cryptopreneurs for creating an ICO token since it costs nothing but bandwidth. It is simpler for traders to participate in the ICO since most of the popular wallets recognize TRC-10 tokens easily.

TRC-20 Tokens

You might have heard about the ERC-20 token standard. TRC-20 tokens are quite similar to those. The TRC-20 token standard allows for quick trades. Well, releasing a TRC-20 token is not at all that simple since it demands expertise in crafting smart contracts. Once smart contracts are developed and deployed properly, they facilitate the creation of several incentives, like distributing bonuses to users who participated in a particular ICO. Moreover, this token standard addresses the issue of controlling the TRC-10 token’s restrictions.

TRC-721 Tokens

TRC-721 is one of the most popular standards for TRON token development. It was the first NFT token specification that tends to boost the uniqueness of tokens. Additionally, it has the potential to serve a similar role as the TRC-20 token. The TRC-721 token can allow any real-world physical or virtual asset to link with it.

Wrapping Up

Indeed, TRON has distinguished itself as a potent rival to some of the popular blockchain networks in the past few years. It has the potential to handle up to 2,000 transactions per second, which is more effective than other networks. It can persuade anyone considering TRON for their project development.

If you lack substantial expertise in the field, it is always advisable to get in touch with the experts to get started.

Technoloader is the leading TRON token development company that offers a comprehensive suite of services. Their solutions follow a coherent roadmap, which includes token conceptualization, development, and deployment.

So, reach out to their experts today!