Is Binance an ERC-20?" This question seems to have a fundamental misunderstanding about the nature and functionality of Binance and ERC-20. ERC-20 is not a platform or service, but rather a technical standard used for creating fungible tokens on the Ethereum blockchain. It's a set of rules and guidelines that define how these tokens should behave and interact with the Ethereum network.
On the other hand, Binance is a cryptocurrency exchange platform that allows users to buy, sell, and trade various digital assets, including tokens that comply with the ERC-20 standard. Binance provides a marketplace where these tokens can be listed and traded, but it itself is not an ERC-20 token.
In summary, the question "Is Binance an ERC-20?" is based on a misconception. Binance is a crypto exchange that supports ERC-20 tokens, but it is not itself an ERC-20 token. It's important to understand the distinction between platforms like Binance that facilitate token trading and the technical standards like ERC-20 that define how tokens behave on the blockchain.
5 answers
Davide
Tue May 14 2024
The Binance team has recently achieved a significant milestone.
ZenBalanced
Tue May 14 2024
Additionally, BTCC, a UK-based cryptocurrency exchange, offers a comprehensive range of services.
CryptoWizardry
Tue May 14 2024
They successfully upgraded their asset and launched their own mainnet blockchain versions.
CryptoGladiator
Tue May 14 2024
Holders of the old ERC20 BNB tokens can now swap them for the mainnet versions of BNB.
BusanBeautyBloomingStar
Tue May 14 2024
Prior to this upgrade, Binance's asset existed as an ERC20 token, operating on the Ethereum network.