Cryptocurrency Q&A Is IoTeX on Ethereum?

Is IoTeX on Ethereum?

DondaejiDelightfulCharmingSmile DondaejiDelightfulCharmingSmile Sun Jun 23 2024 | 6 answers 1329
Could you elaborate on the current relationship between IoTeX and Ethereum? Is IoTeX built on the Ethereum blockchain? If not, what is the nature of their interaction, if any? Are there any plans for future integration or collaboration between the two projects? Given the significant differences in their goals and architectures, how do you see them coexisting in the broader crypto ecosystem? Understanding this relationship could provide valuable insights for investors and developers alike. Is IoTeX on Ethereum?

6 answers

Alessandra Alessandra Tue Jun 25 2024
ERC20 is a widely adopted technical standard that allows for the implementation of tokens with specific functionalities on the Ethereum network.

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EchoWhisper EchoWhisper Tue Jun 25 2024
IOTX ERC20 token serves as the initial incarnation of the IOTX token, preceding its utilization on the IoTeX blockchain protocol.

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emma_anderson_scientist emma_anderson_scientist Tue Jun 25 2024
During the early development stages of IoTeX, the ERC20 standard was leveraged to facilitate the issuance and distribution of IOTX tokens on the Ethereum blockchain.

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CryptoWizardry CryptoWizardry Mon Jun 24 2024
The ERC20 standard ensures compatibility and interoperability, making IOTX ERC20 tokens easily transferable and tradable on various Ethereum-based platforms.

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Caterina Caterina Mon Jun 24 2024
As IoTeX continued to evolve and mature, the need for a dedicated blockchain arose to support the unique requirements of the project.

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