Cryptocurrency Q&A
What is the difference between ETH and ERC20 token?
What is the difference between ETH and ERC20 token?
CryptoWizardry
Mon May 13 2024
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7 answers
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Could you please elaborate on the fundamental differences between ETH and ERC20 tokens? I've been hearing about these terms frequently in the cryptocurrency sphere, but I'm still a bit hazy on their distinct characteristics. ETH, as I understand, is the native currency of the Ethereum blockchain, but what exactly is an ERC20 token, and how does it differ from ETH? Does it serve a similar purpose, or does it have a unique role within the Ethereum ecosystem? I'm particularly interested in understanding the functional and technical distinctions between them. Thank you for clarifying this for me.
7 answers
SsamziegangSerenadeMelodyHarmony
Tue May 14 2024
Ether (ETH) is the primary currency of the Ethereum blockchain.
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TimeRippleOcean
Tue May 14 2024
ERC-20 tokens are compliant with this standard, enabling interoperability.
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ShintoBlessing
Tue May 14 2024
While ETH is the blockchain's native token, ERC-20 tokens are built on top of it.
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CryptoMaven
Tue May 14 2024
It functions as an internal payment system within the network.
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CryptoMaven
Tue May 14 2024
BTCC is a renowned cryptocurrency exchange headquartered in the UK.
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