In the words of Eric Schmidt, “The ability to create something which is not duplicable in the digital world has enormous value. Lots of people will build businesses on top of that”.
This is a fast changing world involving constant paradigm shifts. To remain relevant, we must become ‘life-long learners’. Our adaptability, tenacity and constant restructuring of acceptable models will help us sail through the tides of change. Technology has impacted every aspect of our existence. Concepts like crypto currency and blockchain networks are no longer alien to any age group. Even youngsters want to explore new avenues of investment. In this world of unprecedented changes, awareness and in-depth knowledge are essential tools.
There is no dearth of crypto enthusiasts all across the globe. However, the volatility of the market necessitates constant up-skilling and upgrading of available knowledge.
It is very important for crypto investors to know about the market basics and dynamics. Most of us have heard about ERC 20 and TRC 20 tokens. At the time of decision making, we are often confused as to which one should be the right choice. Multiple factors affect our perspectives and decisions.
For proper understanding and evaluation, let us have a look at the prominent features of both tokens:
ERC Tokens in a nutshell
ERC which stands for Ethereum Request Comments comes under Ethereum Blockchain technology. We can use ERC 20 tokens for promotional endeavors, boosting brand portfolios, digital transactions, fundraising etc. The most noteworthy ERC 20 tokens in the contemporary crypto market include Zilliqa, VeChain, OmiseGo, and so on.
TRC 20 standard tokens which use the Tron Block Chain technology are becoming immensely popular in the domain of cryptocurrency. They allow secure transactions in more efficient manner. Interestingly, crypto buffs are now showing zeal in TRC 20 owing to another integral element- high energy level. An in-depth analysis of the crypto market will reveal that some of the popular TRC 20 tokens include NOLE, WINK, SEED, TERC, BTT, and so on. TRC 20 tokens are supported by specialized digital wallets and can be easily swapped or transferred.
Which one to select
The primary question which baffles the investor is whether ERC 20 is a more viable option in comparison to TRC 20 or not. Both the standard tokens have unique features but on delving deep, we can discover some crucial facts. While the transfer speed for ERC Standard token ranges from 5 to 10 minutes, TRC Standard tokens offer very high transfer speed ranging from few seconds to few minutes. In terms of transaction speed per second, TRC 20 standard token has an edge over ERC 20.
ERC 20 can perform only 20 transactions per second but TRC 20 offers the scope of completing 2000 transactions per second. For ERC Tokens, the average standard fee charged is approximately 30 USD while it starts from 2 USD in the case of TRC tokens.
The debate continues
Most Crypto enthusiasts prefer TRON rather than Ethereum due to the immensely high speed and transaction rate. Faster processing speed is surely better in case of decentralized networks.
Advocates of ERC 20 standard have always highlighted the appreciable benefits of ERC 20 standard tokens in terms of secure transactions. There is also a provision to secure the wallet with a private key. The safety cover allures investors to use ERC 20 standard tokens. Moreover, ERC 20 interacts efficiently with other currencies, thereby offering a more simplified way of transaction.
In the words of Nassim Taleb, “Bitcoin is the beginning of something great; a currency without a government, something necessary and imperative.”
With new trends emerging in crypto-market, contextual perspective becomes vital. Both ERC 20 and TRC 20 standard tokens offer unique benefits. But the selection of the token depends exclusively on the nature of the business and the specific context in which such selection is made. Investors must solicit prudent advice of crypto experts before any investment to avoid risk in future.
Let us not forget that we can get the best possible return only we know how to combine appropriate knowledge with apt suggestion. Every investment brings with it a list of associated risks. But, it is rightly said, the greatest risk in life is to risk nothing. So, gather full knowledge and get set to explore an interesting world which will amaze you!