Based on the implementation of smart contracts, TRC-20 is a standard for the Tron Network, similar to the ERC-20 standard for Ethereum. This standard is taken into account during the creation and issuance of new tokens on the Tron network. It is a technical measure layer present in the execution of smart contracts.
The smart contracts used by the Tron network are completely in harmony with Ethereum’s ERC-20 standard. It then requires a smart contract with tons of addresses for the creation of the TRC-20 token. These tokens can then be traded on several exchanges. All TRC-20 tokens should follow this set of instructions to thrive on the Tron network.
Some of the standard features of TRC-20 include enabling token swap while using dApps, the token holder being able to use its data without any restrictions, a public ledger being able to easily monitor every transaction taking place on the platform, and payments being processed firmly via a decentralized P2P network. Whenever an issue related to counterfeit chains arises within these tokens, the built-in proof of stake consensus mechanism of the Tron network comes in handy to resolve such issues.