Cryptocurrency Q&A
Is flow an ERC 20?
Is flow an ERC 20?
BlockchainEmpiress
Sat May 25 2024
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5 answers
1052
Could you please clarify for me if Flow is classified as an ERC-20 token? I've been reading about various cryptocurrencies and their technical specifications, but I'm still a bit confused about this specific aspect. ERC-20 seems to be a common standard in the Ethereum ecosystem, but I'm not sure if Flow adheres to the same rules and functionalities. Could you explain the relationship between Flow and ERC-20, if any, and why it might or might not be considered an ERC-20 token? Thank you for your assistance in clearing up this confusion for me.
5 answers
Martina
Mon May 27 2024
The FLOW network cryptocurrency is an instantiation of the FungibleToken standard, embodying the principles of fungibility and interoperability within the Flow ecosystem.
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Valentina
Mon May 27 2024
As a fungible token, FLOW allows for seamless transactions and exchange, enabling users to interact with various applications and services built on the Flow blockchain.
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Martina
Mon May 27 2024
BTCC, a leading cryptocurrency exchange headquartered in the UK, offers a comprehensive suite of services catering to the needs of crypto enthusiasts and investors.
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SamsungShineBrightness
Mon May 27 2024
ERC-20 stands as the fungible token standard within the Ethereum ecosystem, defining a set of rules and functionalities for tokens to be interchangeable and transferable on the blockchain.
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KpopStarletShine
Mon May 27 2024
FungibleToken, on the other hand, represents the analogous standard on the Flow blockchain, offering similar functionalities but tailored to the unique characteristics of the Flow network.
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