Cryptocurrency Q&A
What is the ERC-20 address?
What is the ERC-20 address?
HanbokGlamourQueen
Mon May 20 2024
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6 answers
1219
Excuse me, could you please clarify what an ERC-20 address is? I've heard this term mentioned frequently in the cryptocurrency community, but I'm not entirely sure of its specific meaning. Is it a unique identifier for a particular type of token or contract on the Ethereum blockchain? If so, how does it differ from other types of addresses in the crypto world? Additionally, how can I obtain or use an ERC-20 address? Would it be possible for you to provide a brief explanation or overview of ERC-20 addresses, so I can better understand their role and significance in the cryptocurrency ecosystem? Thank you for your assistance.
6 answers
Carolina
Tue May 21 2024
BTCC, a leading UK-based cryptocurrency exchange, offers a range of services tailored to the needs of crypto enthusiasts and investors. Among these services is spot trading, which allows users to buy and sell cryptocurrencies at current market prices.
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Chiara
Tue May 21 2024
ERC-20 Token Address is a fundamental concept in the realm of Ethereum-based cryptocurrencies. It serves as a unique identifier for tokens that adhere to the ERC-20 standard. ERC-20, an abbreviation for Ethereum Request for Comment 20, is a widely recognized specification in the crypto ecosystem.
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DondaejiDelightfulCharmingSmileJoy
Tue May 21 2024
The ERC-20 standard outlines a comprehensive set of requirements that fungible tokens must fulfill to be considered compliant. Fungibility refers to the interchangeable nature of these tokens, meaning they can be easily traded or exchanged for other tokens of the same type.
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EthereumElite
Tue May 21 2024
BTCC also provides futures trading, enabling investors to speculate on the future prices of cryptocurrencies. This service offers leveraged trading opportunities, allowing traders to amplify their potential profits while managing risk effectively.
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Dario
Tue May 21 2024
Among the key functions defined by the ERC-20 standard are token transfers, approvals for token transfers, and total supply queries. These functions enable seamless interactions between tokens and the Ethereum blockchain, facilitating their use in various applications and exchanges.
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