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Essentials Wallet Adds Tron Network with Multiple Features
Essentials is a decentralized wallet that supports EVM-compatible and non-EVM-compatible networks. In addition to the various non-EVM-compatible networks, the Essentials wallet has recently integrated Tron, the third non-EVM-compatible network it supports, allowing users to access new features and functionalities.
Tron is a blockchain network founded in 2017 by Justin Sun to accelerate the decentralization of the internet through decentralized applications (dApps). Since its MainNet launch in May 2018, Tron has garnered over 100 million users and billions of transactions on its blockchain. In addition, Tron hosts the largest circulating supply of stablecoins globally and completed full decentralization in December 2021, becoming a community-governed DAO.
Switch to Tron Network with One-click
With this integration on Essentials, users can seamlessly switch from another network to Tron instantly. For instance, if an individual has just sent or received ELA on the Essentials wallet, they can instantly change networks from Elastos to Tron with one single click.
Mnemonic Phrase Backup for Elastos and Tron
Essentials wallet users hold a mnemonic phrase to be used as a backup and recovery method for their private key. This same exact phrase can be used as a backup for the user’s Elastos and Tron wallet.
Token Transfer on the Tron Network
One of the significant benefits of Tron Network is its wide usage for transferring the USDT stablecoin. The main reason USDT’s popularity on Tron is the small fees and the overall transaction speed. In addition to USDT tokens, the Essentials wallet facilitates the transfer of all tokens on the Tron network.
Token Listing and Auto-discovery
Other supported features include listing tokens and tokens auto-discovery in the user’s wallet. The listing token feature means that you can see all Tron tokens in the wallet, not only the native Tron token (TRX) itself.
The auto-discovery feature allows users to automatically import Tron tokens into the Essentials wallet.
Tron Bandwidth and Energy Support
On the Tron Network, users can “freeze” their Tron and receive TRX and “energy and bandwidth points.” These points give the user a certain amount of Tron Power to vote for Super Representatives or their version of Supernodes. However, there is an option to unfreeze the TRX after a period of 3 days. Once this is executed, the voting power and bandwidth/energy points will be removed from the account.
Accounts that have their TRX frozen receive 5,000 free bandwidth points per day. Energy points, however need to be earned via the freezing process and are given proportionate to the amount of TRX frozen. When initiating a transaction on the Tron network, bandwidth points are utilized. For executing a smart contract, however, both bandwidth points and energy are required. Essentials wallet users can freeze and unfreeze TRX to receive free energy and bandwidth points while enjoying support for TRC20 tokens.
Look out for the newest version of Essentials on the Apple Store and Google Play Store. Essentials users can now take advantage of having a one-stop shop for all their Tron needs. People can instantly earn bandwidth and energy points freezing their TRX. Essentials is a place to store users’ Tron-based USDT for low fees and instant transaction speeds.