Token standards explained: ERC-20, TRC-20, BEP-20 and SPL

Thousands of tokens exist on public blockchains. Most of them follow a small number of token standards — shared rules that make tokens work the same way in wallets and applications.

What a standard defines

A token standard is an agreed set of functions and events. For a fungible token (one where every unit is the same) it typically covers:

• the total supply and the balance of an address;
• how to transfer tokens;
• how to let another address (for example, an exchange contract) spend tokens on your behalf;
• events that wallets and explorers read to show transfers.

Because every compliant token behaves the same way, a wallet can support new tokens without new code.

ERC-20 (Ethereum)

ERC-20 was proposed in 2015 and became the standard for fungible tokens on Ethereum. Fees are paid in ETH. The same contract format is used on other EVM networks.

BEP-20 (BNB Smart Chain)

BEP-20 is the equivalent standard on BNB Smart Chain, which is compatible with Ethereum's virtual machine. Addresses look the same as Ethereum addresses (they start with 0x), and fees are paid in BNB.

TRC-20 (TRON)

TRC-20 is TRON's token standard, modelled on ERC-20. Addresses start with T, and fees are paid with TRX resources (bandwidth and energy). USDT on TRC-20 is widely used for transfers — and it is the only deposit and withdrawal option on XFasil.

SPL (Solana)

Solana tokens follow the SPL token program. Solana's account model differs from Ethereum's: tokens are held in token accounts linked to your wallet address.

Same name, different token

USDT on Ethereum, on TRON and on BNB Smart Chain are different tokens on different ledgers, even though they have the same name and are redeemable with the same issuer. Sending USDT on one network to an address that only watches another network can lose the funds.

Before every transfer, check the network the receiver supports. See Networks, addresses and why the right network matters.