Exchanging TRC20 to ERC20: What do you need to know?
The previous iteration of bridges relied heavily on the preexisting DeFi knowledge and introduced many barriers to entry. The new generation of bridging solutions aims to make the entry into the crypto market more approachable for new users and attract a wider audience into the blockchain space.
Using Allbridge Core, you can seamlessly transfer USDT TRC20 to ERC20 tokens via decentralized cross-messaging protocols. By design, the bridge architecture offers the support of multiple messaging protocols, with Wormhole and Allbridge messaging available at release.
The support of multiple messaging protocols makes the platform more decentralized and scalable and offers a more extensive selection of networks for potential integration.
By visiting our documentation, you can find out how Allbridge Core utilizes the supported messaging protocols to send TRC20 to ERC20.
How to convert USDT TRC20 to ERC20?
Allbridge Core streamlines the user experience and makes transfers between Tron and Ethereum as simple as one click of a button. To perform a cross-chain swap, one has to indicate the desired networks and tokens in the bridge interface. Proceed with selecting the amount you would like to transfer and either connect your wallet or paste the destination address. When the details are confirmed, initiate the transaction by pressing “Send”.
Once the transaction is confirmed, Allbridge Core will perform a cross-chain swap, and the selected stablecoin will be credited to your wallet.
How does Allbridge Core work?
Allbridge Core is a cross-chain swap platform that facilitates the transfers of native stablecoin liquidity between various chains. However, how exactly does one send TRC20 to ERC20? First, we must explore the notion of virtual value transfer tokens.
Once the transaction is initiated, the assets are exchanged on the Tron network to the virtual value transfer tokens. These tokens transfer the information via the selected messaging protocol.
When the message arrives, it triggers the contract on the Ethereum blockchain. Then the virtual tokens are swapped into the desired asset, and native ERC20 tokens are credited to your wallet. Find out how Allbridge Core works under the hood in the corresponding GitBook section.
The benefits of using Allbridge Core for swapping TRC20 to ERC20 tokens
Our platform offers a simple and intuitive interface to facilitate cross-chain stablecoin transfers in one click, which makes it very user-friendly. Allbridge Core also features a high speed of transactions, enabling quick transfers between TRC20 to ERC20 assets.
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.
On the subject of security, after the thorough testing period in beta, 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. The way it is achieved is by decreasing the price of the native token in every exchange between the virtual transfer token and a native one.
What is the difference between TRC20 and ERC20?
TRC20 and ETH20 are two different token standards that are used for the technical specification of tokens on the Tron and Ethereum networks. ERC20 is a token standard that implements API functionality for tokens within Ethereum smart contracts, while TRC20 is a token standard used for Tron assets.
Allbridge Core offers seamless cross-chain swaps of USDT TRC20 to ERC20, enabling transfers between Tron and Ethereum blockchains. Beyond USDT, our platform also features USDC and BUSD stablecoin transfers at launch, with more networks and tokens added to the roadmap in the future.