TRC20 Implement Rules and its Required Items

By | July 1, 2021

Everyone asks the question, What is TRC20? And some of them knows that TRC20 means TRC20 Token Standard that is one of the standard based on the implementation of the smart contract when people are usingTRON network to issue a token. It is used for swap, transfer, and share tokens and be supported by digital wallets. And all the TRC20 tokens are following the series of specifications that have included the six important requirement items and three optional items. It has some implementation rules that depend on three optional items first one is Token Name and then the token abbreviation that is TERC that means the abbreviation of TRON Europe Reward Coin. TRON Europe Reward Coin and then the TERC has resembled like the same token and then TERC is a simple one. The third one is token precision that is the minimum divisible unit. Precision 0 means that the value of the minimum divisible unit is 1. And another one is precision 2 means the value of the minimum divisible unit is 0.01. so that the maximum value of precision is 18.

Six Required Items:

What is TRC20?

The first one is a total supply which is a function of the total supply of the token the other one is the balance of something that is the function of returns the token balance of the specific account. The third one is the transfer that means the function is used to transfer several tokens from the smart contract to the specific address. And then approve this refers to the function of the authorized the third party to transfer token from the token owner’s account. The fifth one is transferred from where that required item is used to allow the third party to transfer the token from an owner account to a receiver account. So that the owner account must be approved to be that is called the third party. That the third party can transfer token from our account to another account automatically by using the transfer from. Then the last one is an allowance that is the function that used the query the remaining amount of the tokens that the third party can transfer. So approve are authorize the third pay to transfer token from the owner account, then it through transfer from that will transfer token to a receiver account.

And then Event functions are when the token is successfully transferred that has to trigger the transfer event. When approval is successfully called, it has been trigger approval Event. That the Elliptic curve digital signature algorithm is called ECDSA. That is the variant of the Digital Signature Algorithm that is DSA. These are based on the elliptic curve cryptography. And then the Elliptic Curve Digital Signature Algorithm is widely in the blockchains of TRON. And then Bitcoin and Ethereumare used for the transaction signature, consensus verification and then have many of the other aspects. It is the called those cornerstone algorithms of blockchain technology. And then explaining the principle of the Elliptic Curve Digital Signature Algorithm is the article will also describe the two approaches of verifying the elliptic curve encryption digital signature in the solidity. And these are including the widely used solidity function and some of the new functions then batch validates sign etc.

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