OMNI.ERC-20.TRC20 – Noah Wang – Medium

Normally we withdraw and deposit token from a wallet to another one. People sometimes ask me which qrcode (the address of wallet) they should use or some new users also have the questions of ‘why my token has not come yet’. So let us briefly go through three transaction method that people often use.

Each cryptocurrency relies on the blockchain network. USDT-Omni (usd), USDT-ERC-20 (ethereum) and USDT-trc20 (tron) use different protocols. The USDT was originally issued on the Bitcoin blockchain based on the OMNI Layer protocol, pegged to the dollar. Due to the popularity of the ethereum network in 2018, the USDT is also released under the ERC-20 protocol. Until 2019, TRON teamed up with Tether to release the USDT using TRC-20.

According to the characteristics of each blockchain network, the following advantages and disadvantages can be simply summarized.

OMNI （1xxxx/3xxxx）

OMNI uses bitcoin network, high-security performance; However, the transaction speed is slow and the transaction fee is high (generally 2–20usdt), so large transactions are recommended to use the bitcoin network.。

ERC-20（0x…）

Erc-20 is based on the ethereum protocol, and due to its prevalence, its network is congested with a normal transaction speed(a few minutes). Its transaction costs are the same as ETH transaction costs, about 1–5 USDT, which also has high security.

TRC20（T…）

TRON network, fast transaction speed, low fee, but the security compared to the former is relatively low.

Published at Mon, 29 Jul 2019 08:15:08 +0000

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By BWCK Photography on 2017-05-22 01:26:54