Understanding Token Standards: ERC-20, BEP-20, TRC-20

Imagine wanting to send 100 USDT to a friend. They provide an address, you send the coins, but then hear: "Where's the money?" The cause is simple: the transfer was made via BEP-20, but the recipient's address was for ERC-20. This is similar to shipping a parcel through CDEK expecting it at Russian Post. Tokens get stuck because the networks are incompatible. To understand this, one must grasp token standards. A token standard is a set of rules dictating how a token is created, transferred, and utilized. Think of it like a file format — if you send a document in an unsupported format, the receiver can't open it. ERC-20 is the first and most widespread token standard on the Ethereum network, responsible for thousands of tokens including USDT and meme coins. It is supported by nearly all wallets, exchanges, and DeFi platforms but has downsides like network congestion and high gas fees. BEP-20 is a similar standard for the BNB Chain network, offering faster and cheaper transactions, but with less decentralization, which some see as a disadvantage. TRC-20 is a token standard on Tron, with low fees and high speed, making it essential for simple transfers like USDT. Knowing these standards is crucial because tokens like USDT exist in multiple versions across Ethereum, Binance Smart Chain, Tron, and others. Sending tokens into the wrong network results in the tokens being stuck and lost — a feature, not a bug. Always verify the network before sending tokens to avoid losing your assets.