Cryptocurrency Q&A
Why is ETH not ERC20?
Why is ETH not ERC20?
CryptoVanguard
Mon May 13 2024
|
5 answers
939
I've often heard the terms ETH and ERC20 mentioned in the same breath, but I'm still unclear on the distinction between them. Could you clarify for me? Is ETH not ERC20? If not, what are the fundamental differences between these two concepts? ETH, as I understand, is the native currency of the Ethereum blockchain, powering transactions and smart contracts. On the other hand, ERC20 seems to be a standard for tokens issued on the Ethereum network. But what does this mean in practical terms? Are ERC20 tokens a subset of ETH, or are they entirely separate entities? I'm interested in understanding the nuances of this distinction and how it affects the overall cryptocurrency ecosystem. Your explanation would be greatly appreciated.
5 answers
Chiara
Wed May 15 2024
ERC-20 is not the same as ETH.
Was this helpful?
161
50
Claudio
Tue May 14 2024
ERC-20 represents a standard protocol for creating fungible tokens within the Ethereum ecosystem.
Was this helpful?
96
49
GwanghwamunGuardianAngelWingsBlessing
Tue May 14 2024
These tokens are enabled by smart contracts, providing flexibility and functionality.
Was this helpful?
375
38
Valentina
Tue May 14 2024
Ether (ETH) is the native cryptocurrency of the Ethereum blockchain.
Was this helpful?
205
71
Martina
Tue May 14 2024
It serves as an internal payment system, allowing users to transact within the network.
Was this helpful?
102
60
