Cryptocurrency Q&A
Is USDT an ERC20 token?
Is USDT an ERC20 token?
GyeongjuGrace
Mon May 13 2024
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7 answers
1866
I'm curious to know if USDT is classified as an ERC20 token. Could you please elaborate on this? As I understand, ERC20 is a standard for tokens issued on the Ethereum blockchain, and USDT being a stablecoin, I'm wondering if it adheres to this standard. Your explanation would greatly help me in understanding the technicalities behind USDT and its categorization within the crypto ecosystem. Thank you for your time and consideration.
7 answers
CryptoWizard
Tue May 14 2024
A stablecoin is designed to maintain a fixed value.
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CryptoLodestar
Tue May 14 2024
Tether ERC-20 is a specific type of Tether (USDT).
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BusanBeautyBloomingStarShine
Tue May 14 2024
The value of Tether ERC-20 is pegged to $1.00.
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HanbokGlamourQueenEleganceBloom
Tue May 14 2024
Unlike other Tethers, ERC-20 version is issued on Ethereum.
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Stefano
Tue May 14 2024
It is created on the Ethereum platform.
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