To understand what TRON-20 and EOSIO tokens are, we may review the very first token architecture, Ethererum’s ERC-20.
What are ERC-20 tokens?
Back in the early days of crypto, many developers were creating their own standalone crypto tokens without regard for technical standardization. For instance, different coin projects might use different labels in their documentation or unique architectures for sending and receiving. Developers would have to read through each coin’s documentation in order to support it, hurting adoption rates for new projects.
To address this issue, the ERC-20 token standard was created. ERC-20 tokens allowed developers to build on top of the Ethereum protocol, running decentralized applications (“DApps”) and ICOs, as well as recording transactions directly onto Ethereum’s blockchain.
Interestingly, Tron and EOS used to be ERC-20 tokens.
What are the TRON-20 and EOSIO tokens?
After both TRON and EOS launched their own mainnet (leaving the Ethereum world behind), they decided to create their own TRON-20 and EOSIO tokens. Just like Ethereum, any ICO or DApp built on these tokens will run on their own protocols and respective “child” blockchains.
While Tron aims to decentralize the Web, EOS seeks to decentralize the OS. At Cobo, we believe that a blockchain-powered future will bring about added convenience, security, and value for society, and are proud to support EOS and Tron.
August 20, 2019
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