What is the difference between ERC20 and TRC20?
ERC20 and TRC20 are two separate token standards responsible for the technical specifications of Ethereum and Tron tokens, respectively. ERC20 implements API functionality for tokens within Ethereum smart contracts. TRC20 contract standards are used to issue token assets on the Tron blockchain.
Another distinguishing aspect is the fact that Ethereum transactions require an ETH gas fee to execute successfully. Unlike Ethereum, Tron Virtual Machine uses energy instead of gas, and TRX acts as the ecosystem gas token.
In the future, Allbridge Core will support the option to convert some part of the transferred amount into gas, reducing the entry barriers into the new chains.
How to convert USDT ERC20 to TRC20?
Allbridge Core simplifies the bridging experience compared to other products on the market by introducing one-click stablecoin swaps between ERC20 and TRC20 tokens.
To complete a cross-chain swap, one has to indicate the desired networks and tokens in the bridge interface. After selecting the transfer amount and indicating the destination address, initiate the transaction by selecting “Send”.
Once the transaction is confirmed, a cross-chain swap will be completed, and the selected stablecoin will be credited to the destination address.
How does Allbridge Core work?
Allbridge Core offers a native stablecoin bridging experience, enabling seamless cross-chain swaps between EVM and non-EVM blockchains. This section will explain how the transfer works between Ethereum and Tron networks.
Once the transaction is initiated, the crypto assets are exchanged on the Ethereum chain to the virtual value transfer tokens. These tokens transfer the information via the Allbridge messaging protocol.
When the message arrives, it triggers the contract on the Tron blockchain. It follows with the swap from the virtual tokens into the selected stablecoin, with native TRC20 USDT credited to your wallet. More details about the transaction flow are available in the dedicated GitBook section.
The benefits of using Allbridge Core to transfer USDT ERC20 to TRC20
Our platform offers a simple and intuitive interface to facilitate cross-chain stablecoin transfers in one click, significantly enhancing the user experience. Allbridge Core also features a high speed of transactions, enabling the stablecoin conversion from ERC20 to TRC20 token.
Future updates to the bridge functionality will include the option to convert some part of the transferred amount into a gas token, thus further reducing the barriers to entry into the new chain.
After the testing of the beta version is complete, the ability to upgrade the smart contracts will be disabled, contributing to the bridge security and preventing the potential bad actors from meddling with user transfers.
Lastly, the built-in liquidity rebalancing function ensures that the bridged assets are swapped back to the chain of origin to rebalance the liquidity pools. It is achieved by decreasing the price of the native token in every exchange between the virtual transfer token and a native one.
Yes, you can use Allbridge Core to convert from ERC20 USDT to TRC20, enabling the seamless flow of liquidity between Ethereum and Tron blockchains. To access the complete list of the bridge and token contracts, please visit the corresponding GitBook section.