Cryptocurrency Q&A
Is ERC20 the same as ETH?
Is ERC20 the same as ETH?
CosmicDream
Sun May 12 2024
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7 answers
1419
I've been hearing about ERC20 tokens a lot in the cryptocurrency world, and I've also encountered ETH quite frequently. However, I'm still a bit confused as to whether ERC20 and ETH are interchangeable or if they serve different purposes. Could you please clarify the difference between them for me? I'm aware that ETH is the native token of the Ethereum blockchain, but does that mean all ERC20 tokens are also ETH? Or are they separate entities with distinct functions within the Ethereum ecosystem? It would be great if you could explain this in a way that's easy to understand for someone who's still learning the ropes of crypto.
7 answers
Federica
Tue May 14 2024
ERC20 defines a common set of rules and functions that tokens must adhere to.
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GeishaWhisper
Tue May 14 2024
This standardization enables seamless interaction and compatibility among various tokens and dapps.
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NebulaPulse
Tue May 14 2024
Despite their close association, ERC20 tokens and smart contracts are not synonymous.
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GyeongjuGlory
Tue May 14 2024
Ethereum's Request for Comment number 20, or ERC20, is a crucial aspect of the blockchain ecosystem.
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CharmedWhisper
Tue May 14 2024
It serves as a standardized template for smart contracts on the Ethereum network.
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