Cryptocurrency Q&A
Is flow an ERC 20 token?
Is flow an ERC 20 token?
CherryBlossomDancing
Sun May 26 2024
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5 answers
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Is it true that flow qualifies as an ERC 20 token? This is a question that many cryptocurrency enthusiasts may have been pondering. ERC 20 tokens are those built on the Ethereum blockchain and adhere to a specific set of standards. They offer interoperability and ease of use within the Ethereum ecosystem. But does flow fit into this category? It's important to clarify as the answer could impact its compatibility with certain wallets, exchanges, and smart contracts. Could you please elaborate on whether flow meets the criteria of an ERC 20 token? Understanding this distinction is crucial for investors and developers alike.
5 answers
BitcoinBaroness
Tue May 28 2024
ERC-20 stands as the fungible token standard within the Ethereum ecosystem, defining a set of rules and functionalities for tokens issued on the platform.
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Bianca
Mon May 27 2024
These tokens are interchangeable and can be traded or transferred similarly to other ERC-20 compliant tokens, providing flexibility and interoperability.
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GeishaWhisper
Mon May 27 2024
On the other hand, the Flow blockchain introduces its own comparable standard known as FungibleToken.
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Daniele
Mon May 27 2024
This standard enables the creation of fungible tokens within the Flow network, each adhering to a set of predefined rules and characteristics.
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KDramaLegendary
Mon May 27 2024
FLOW, the native cryptocurrency of the Flow network, is an example of a fungible token that implements the Flow FungibleToken standard.
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