What's the difference between ERC-20 and TRC-20?

Discussion in 'General Bitcoin Gambling Discussion' started by BitcoinAnarchist, Mar 17, 2023.

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  1. BitcoinAnarchist

    BitcoinAnarchist Member

    I just decided to buy some Tether stablecoin to deposit at a casino but the exchange is asking if I want to send it an ERC-20 or an TRC-20 address? What the hell is that? They say if I make a mistake the funds will be lost and I won't be able to recover them.

    I thought stablecoins were supposed to be less confusing than bitcoin but this all seems very complicated. Can someone please explain what this is all about?
     
    BitcoinAnarchist, Mar 17, 2023
    #1
  2. Jake21

    Jake21 Member

    it might sound a little complicated at the beginning but it's really not. erc-20 tokens are on the ethereum network, while trc-20 tokens are issued on the tron network. tether create tether dollars (usdt) on both the ethereum blockchain and the tron blockchain. many people prefer to use the tron blockchain because it has much lower fees. for example, sending $100 of usdt via the ethereum blockchain (erc-20) at a time of high congestion could incur a fee of $5, which is quite high. the same transaction on the tron blockchain (trc-20) would likely only cost a few cents.
     
    Jake21, Mar 18, 2023
    #2
  3. Humble Servant

    Humble Servant Active Member Staff Member

    It's also worth noting that Tether is not just issued on Ethereum and Tron blockchains. Token also exists on other blockchains, including Algorand, Avalanche, EOS, Liquid Network, Near, Omni, Polygon, Solana, Bitcoin Cash's Standard Ledger Protocol, Statemine, Statemint and Tezos. It's basically the same pegged token but you can choose whichever blockchain you would like to use. However, most exchanges just support Tron and Ethereum Tether.
     
    Humble Servant, Apr 6, 2023
    #3
  4. Wonka

    Wonka Member

    interesting. does usdc also operate on as many blockchains as tether?
     
    Wonka, Apr 11, 2023
    #4
  5. Humble Servant

    Humble Servant Active Member Staff Member

    I'm a Kraken user and I can confirm that you can Deposit or Withdraw Tether on the following Blockchains: Ethereum, Tron, Polygon, Solana and Arbitrum One.
     
    Humble Servant, Apr 11, 2023
    #5
  6. Jake21

    Jake21 Member

    which blockchains does usd coin (usdc) use? since they are much smaller than tether, i'm guessing their stablecoin is available on less blockchains.
     
    Jake21, Apr 17, 2023
    #6

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