Understanding Key Crypto Terms: TRC20, BEP20, and ERC20.Hello, Gleam community!
🤓We’re thrilled to have so many new faces joining our community, especially those just starting their journey into the fascinating world of cryptocurrencies. We’re launching a series of straightforward posts about essential crypto concepts.
Today, let’s demystify three crucial terms you’ll frequently encounter: TRC20, BEP20 (BSC), and ERC20.
⚫️TRC20: This standard is used for creating and issuing tokens on the TRON blockchain. For example, the USDT (Tether) you see in the
@wallet bot by Telegram uses the TRC20 protocol.
⚫️BEP20 (BSC): BEP20 is a token standard on the Binance Smart Chain, a major player in the crypto world known for its fast transactions and low fees. It sets the rules for making versatile tokens that operate quickly and efficiently on Binance’s blockchain.
⚫️ERC20: ERC20 tokens are based on the Ethereum blockchain. These tokens follow a set of rules that make them compatible with the broader Ethereum system. Ethereum is well-known for its robust features and strong security but often has higher fees and slower transactions compared to TRON and Binance.
For instance, to complete the task
"Connect to Bookmaker.XYZ with your wallet" in our community, you would need to use an ERC20 wallet address.
Understanding these terms will help you navigate your crypto journey more effectively, enabling you to participate in various activities within our community and beyond.
😉Stay tuned for more posts as we continue to explore the basics of cryptocurrencies. We’re excited to help you grow your knowledge and enjoy your time in the Gleam community!
💓📸 Gleam bot 📱 Twitter ✅ Community