2 posts tagged with "Tron"

How to get started?​

The newly created TRON wallet accounts do not exist on the chain and require activation before they can be used.

There are two ways to activate accounts:

1. Send any amount of TRX or TRC-10 tokens from an existing account to the new account.

   To activate a new account, an account creation fee of 1 TRX is charged. Additionally, if the sender of the above two transactions has enough Bandwidth obtained by staking TRX, the account creation will only consume bandwidth. Otherwise, 0.1 TRX will be burned to cover the bandwidth cost.

2. Transferring TRX or TRC-10 tokens to an inactive account address in a smart contract can also complete the account activation process.

   In addition to the bandwidth and energy consumed by normal contract calls, this method will only require an additional 25,000 energy and will not incur the 1 TRX account creation fee or the 0.1 TRX bandwidth fee.

The above are the two activation methods provided by Tron official. We recommend using the first method as it is convenient and straightforward.

Network Fees on the TRON network​

When transferring on Bitcoin and Ethereum, BTC and ETH are used to pay transaction fees. However, when transferring on Tron, bandwidth and energy are consumed as transaction fees. When the available bandwidth or energy of the account is insufficient, TRX needs to be burned to pay for the corresponding bandwidth or energy.

What is bandwidth and energy?​

Bandwidth

All types of transactions need to consume Bandwidth Points. The system provides each activated account with 600 bandwidth for free every day. Typically, an average TRX transaction requires about 300 bandwidth, while a TRC-20 token transaction requires more. 100 bandwidth equates to approximately 0.1 TRX.

Energy

The execution of each instruction of smart contract consume a certain amount of energy while running. Energy can be obtained by staking TRX, but there are no free energy distributed to every account. Generally, a single TRC-20 transfer requires approximately 345 bandwidth (about 0.345 TRX) and 64,285 (about 13.61 TRX) energy.

How to obtain bandwidth and energy?​

On the Tron blockchain, you can obtain energy and bandwidth through the following methods.

Staking TRX

You can choose to stake your TRX to obtain energy or bandwidth. Staking 2,000 TRX on Tronscan generates less than 30,000 energy.

Purchasing Energy

You can easily purchase energy for the TRON network on MPCVault. With just 6 TRX, you can buy 65,000 units of energy. Follow these steps to proceed:

1. Navigate to the Wallet section in MPCVault and locate your TRON wallet.
2. Click on the "Buy Energy" button.
3. Sign the transaction on your mobile device, and your energy will be credited instantly.

Please ensure that your TRON wallet has sufficient TRX balance to complete the purchase transaction.

For a single TRC-20 transaction(e.g., send USDT on TRON Chain), the average network fee typically requires around 300+ bandwidth and 64,285 energy.

• If you choose to burn TRX directly, it will cost about 13.61 TRX
• If you choose to purchase energy, the minimum cost is 6 TRX

Note: If the recipient's wallet does not contain USDT, the energy required for the transaction will double.

In the fast-expanding universe of cryptocurrencies, TRON (TRX) stands out as a dynamic blockchain platform designed for digital content creators and consumers. With its growing popularity, ensuring the security and efficiency of your TRON wallet is paramount to safeguard your digital assets and maximize their potential. This article delves into best practices, innovative features, and savvy tips to help you navigate the TRON ecosystem like a pro.

Understanding Your TRON Wallet​

A TRON wallet serves as the gateway to your digital currencies and assets on the TRON blockchain. Whether it's a software wallet like TronLink or Trust Wallet, a secure hardware option like Ledger, or the traditional, yet less common, paper wallet—each offers unique advantages. For example, software wallets offer convenience and instant access, while hardware wallets provide an extra layer of security for your TRX. Understanding key elements, such as private keys—a string of characters that denote ownership and should be kept confidential—and public addresses, which you share to receive TRX, are the bedrock of managing your TRON assets efficiently and securely.

Setting Up Your TRON Wallet Securely​

When you're ready to join the ranks of cryptocurrency enthusiasts, setting up your TRON wallet securely should be your top priority. Begin by choosing a reputable wallet application that supports TRX. During setup, you will be prompted to create a passphrase — think of this as the master key to your wallet. A robust passphrase typically includes a mix of letters, numbers, and special characters that is difficult to guess.

The next crucial step is to make a secure backup of your wallet keys. If your device is lost or compromised, this backup is the only way to regain access to your funds. For added security, consider writing down your backup phrase and storing it in a safe or another secure location. Avoid storing it digitally where it could be susceptible to hacking. MPCVault makes sure you have your keys securely backed up before proceeding to the next step.

Regularly updating your wallet software is another vital practice for maintaining security. Developers constantly patch vulnerabilities, and staying up-to-date with the latest software helps protect your assets from new threats. Remember, in the TRON ecosystem, your wallet is your responsibility - treat it with the care and attention you would any valuable asset.

Fundamentals of TRON Wallet Security​

Securing your wallet is just the beginning. As a TRON user, you must stay vigilant against potential threats. Phishing attacks, malicious software, and unsecured Wi-Fi networks are but a few of the dangers lurking in the digital world. Always verify that you are visiting the official TRON website or genuine wallet service platforms before entering sensitive information.

Employing two-factor authentication (2FA) can significantly increase the security of your wallet. It adds a layer of defense by requiring a second form of verification — usually a code sent to your mobile device.

Moreover, be conscious of the applications and smart contracts you interact with on the TRON network. Only use trusted dApps and perform due diligence before engaging with new platforms or services. Remember that a good reputation and transparent history are signs of reliability in the blockchain world.

Each step you take towards strengthening the security of your TRON wallet is a step towards sustained digital sovereignty. Your diligence is the ultimate shield against cyber threats in the cryptocurrency landscape.

Choosing a TRON Wallet with Secure Technology: Introducing MPCVault​

When it comes to managing your digital assets, the security technology behind your TRON wallet should never be compromised. As cyber threats evolve, so should the protective measures of cryptocurrency wallets. One such advanced innovation is MPCVault, a wallet designed to provide exceptional security for your TRX holdings through cutting-edge Multi-Party Computation (MPC) technology.

MPCVault harnesses the power of Multi-Party Computation, a cryptographic protocol which allows multiple parties to jointly compute a function over their inputs while keeping those inputs private. In the context of a TRON wallet, this means that transaction signing is a cooperative process that requires consent from separate, independent key holders. As a result, MPCVault's security is dramatically enhanced, as a single compromised device does not result in lost assets or unauthorized transactions.

Furthermore, MPCVault is a multi-signature (multi-sig) wallet, requiring more than one signature to authorize a transaction. This adds an additional layer of security, making it nearly impossible for unauthorized users to move funds without collective approval. Despite these robust security features, MPCVault remains a self-custodial wallet, meaning that you, and only you, control the keys to your TRX. There's no need to trust a third party with your precious assets.

With its combination of MPC and multi-sig technology, MPCVault stands out as a premier choice for those seeking peace of mind without sacrificing control over their TRON wallet. Enjoy the benefits of enhanced security, user autonomy, and the flexibility of self-custody, all wrapped up in a user-friendly package designed to maximize the potential of your TRON investments. Choose security; choose MPCVault for your TRX assets.