What are the TRC-20 and ERC-20 Network Protocols and what is the main difference between them?

With BetInAsia offering a wide variety of cryptocurrencies that can be used for payment purposes, we would like to inform our customers regarding the meaning of the ERC-20 and TRC-20 network protocols and the basic difference between these two networks.

At BetInAsia, you have the opportunity to choose between these two network protocols when using USDT or USDC as a cryptocurrency payment method, while Ethereum only supports its native ERC-20 Protocol.

• Ethereum - ERC-20 Protocol
• USDT - ERC-20 Protocol/TRC-20 Protocol
• USDC - ERC-20 Protocol/TRC-20 Protocol

For DEPOSITS using USDT and USDC, once the desired cryptocurrency is selected, you have the option to generate a unique address destination under the preferred network protocol between ERC-20 and TRC-20.

Important Note - Crypto transfers sent to the wrong network protocols cannot be retrieved, so please be careful when choosing the network protocol when depositing using USDT Cryptocurrency.

For WITHDRAWALS, after the desired cryptocurrency is selected, the next step is to choose the preferred network protocol between ERC-20 and TRC-20. Lastly, you need to add your crypto address generated in the correct protocol to which you want to receive your withdrawal request.

ERC-20 Token Standard 

ERC-20 is considered the most popular and one of the oldest and most trusted standards for creating tokens. ERC stands for Ethereum Request for Comment.

The transactions involving ERC-20 tokens are fast, effective, and globalized, with efficient quick transaction confirmation, thanks to the power of Ethereum. ERC-20 token development is cost-effective and time-saving. The tokens created with this method are user-friendly, very secure, and come with dedicated wallets. The ERC-20 Network Protocol has an impressive block processing time of 15 seconds per transaction.

TRC-20 Token Standard

TRC-20 is a token standard for issuing and managing tokens created on the TRON blockchain. The TRC-20 standard defines the rules that every token in the network must follow. These include the rules for issuance of new tokens, performing and approving a token transfer, sending and receiving tokens, and more.

TRC-20 is the standard used for issuing new tokens on the TRON blockchain. Since TRON is a public blockchain, it allows anyone to create and issue their tokens according to the rules specified in the TRC-20 standard.

The difference between ERC-20 and TRC-20

• The primary difference between the two most popular token standards is that of the underlying network. While ERC-20 tokens are based on the Ethereum blockchain, TRC-20 tokens are based on the TRON blockchain.
• The process of creating and deploying tokens is nearly similar, except for the fees, speed of transaction, and ease of use.
• While the Ethereum network still uses the old PoW consensus algorithm (15 seconds per block), the TRON’s Delegated PoS is a customized version of PoS and has a recorded block processing time of 3 seconds per block.