Cryptocurrency Q&A
Are TRX and TRC20 the same?
Are TRX and TRC20 the same?
Ilaria
Thu Jun 13 2024
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7 answers
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I'm just wondering, could you clarify something for me? I've heard of TRX and TRC20, but I'm not quite sure if they're the same thing or not. Could you explain the difference between them, if there is any? Are they interchangeable in some contexts, or do they serve entirely different purposes in the world of cryptocurrency and finance? It would be great if you could shed some light on this for me.
7 answers
SeoulSerenitySeekerPeaceLover
Fri Jun 14 2024
Sending TRC20 tokens to a wallet with no prior transaction history poses an additional challenge. In such cases, the receiving address needs to be initialized, a process that typically incurs a higher transaction fee.
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KpopStarletShineBrightness
Fri Jun 14 2024
Initialization involves setting up the necessary infrastructure and configurations for the new address to receive TRC20 tokens. This ensures that the tokens can be securely stored and accessed by the recipient.
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KpopHarmonySoulMateRadiance
Fri Jun 14 2024
TRC20 tokens, a subset of the Tron blockchain's token standards, tend to be pricier to transmit compared to TRX, the native currency of the network. This higher cost is primarily due to the additional complexity and resources required for processing TRC20 transactions.
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ShintoSpirit
Fri Jun 14 2024
When sending or swapping TRC20 tokens, users are generally required to maintain a minimum balance of 30 TRX in their wallet. This ensures sufficient funds to cover the transaction fees associated with the transfer.
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StormGalaxy
Fri Jun 14 2024
The higher transaction fee associated with initializing a new address reflects the complexity and resources required for this task. It ensures the stability and security of the Tron blockchain network by discouraging frivolous or spam transactions.
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