What is XinFin Network’s XRC20 Token?
XRC stands for “XinFin request for comment” (similar to ERC stands for “Ethereum Request for comment”)
The XRC-20 introduces a standard for Fungible Tokens; in other words, they have a property that makes each Token be the same (in type and value) as another Token. For example, an XRC-20 Token acts like the XDC, meaning that 1 Token is and will always be equal to all the other Tokens. It’s a similar standard and followed by the ERC20, Which Ethereum developers created. Watch the video to create a XinFin’s XRC-20 token without code.
How to send and store your XRC-20 tokens on Guarda wallet?
Now let’s learn step-by-step with the below guide that will guide you to store your XRC-20 tokens on Guarda wallet.
Step-1:- Go to https://guarda.com/ and click on create a wallet.
Step-2:- After clicking on create the wallet, it will open a new tab on your window; there will be two options available for you to create a new wallet or restore or import your wallet. If you click on restore or import account, you will have to go-to currency and select XinFin and will have to log in with the private key of XinFin web or android wallet, and you will find your XDC and all the XRC-20 tokens on Guarda wallet.
Step-3:- Click on “Create a new wallet”. After that, enter a password and click on I’ve written it down, make sure you have noted down your password. We strongly recommend you to take multiple backups of your password and never share it with anyone as it may risk you losing your tokens.
Step-4:- Please take the backup file of your account. I would recommend taking multiple backups of your file and storing your file safely.
Step-5:- After taking the backup, you will find the Dashboard of the Guarda wallet. You need to scroll down and click on add a new wallet. After clicking on it, you need to select XinFin (XDC) as a currency and create it.
Step-6:- After creating a XinFin wallet, you will find your xdc address. Please take the multiple backups of your private key and download the file.
Step:7:- After adding the XDC, you will find the receiver address you need to send XDC and XRC-20 tokens to the receiver address.
Step-8:- After sending the XDC and XRC-20 tokens to the Guarda wallet address, you will find both the tokens on the Guarda wallet.
In the above image, you can see the XDC and XRC-20 tokens. All the XRC-20 tokens which are deployed on XinFin Network can be stored on the Guarda wallet.
Additionally to the Guarda wallet, the Dcent Biometric Hardware wallet and the Dcent Software wallet also support all the XDC and XRC-20 tokens. To store your XDC and XRC20 tokens on Dcent wallet please check the following article: https://ruslanwing100.medium.com/how-to-add-xinfin-networks-xrc-20-custom-token-account-on-dcent-biometric-hardware-wallet-or-dcent-2d6a947a56cb
There are multiple third-party wallets like Free wallet, Lumi wallet, and many more wallets; hardware wallets like Bitfi and Ellipal wallet that support XDC tokens, and probably it may support XRC-20 tokens in the future.