Cryptocurrency Q&A
Is eth ERC-20 the same as eth?
Is eth ERC-20 the same as eth?
Carlo
Wed Jun 26 2024
|
5 answers
1126
Excuse me, I'm a bit confused about the terminology surrounding Ethereum. Could you clarify for me if 'ETH ERC-20' is in fact the same as just 'ETH'? I've heard the term ERC-20 being used in relation to tokens on the Ethereum blockchain, but I'm not sure if it applies directly to Ether itself. If they're not the same, could you please explain the key differences between the two? Thank you for your assistance in clearing up this matter.
5 answers
Daniele
Thu Jun 27 2024
BTCC, a UK-based cryptocurrency exchange, offers a wide range of services including spot trading, futures trading, and wallet management. Among these services, BTCC also facilitates the trading of ERC-20 tokens, allowing users to buy, sell, and store these tokens securely.
Was this helpful?
319
82
Lucia
Thu Jun 27 2024
The question of whether ERC-20 is the same as ETH often arises in the cryptocurrency sphere.
Was this helpful?
179
69
Caterina
Thu Jun 27 2024
Ether (ETH) is the fundamental currency or token utilized within the Ethereum blockchain and network. It serves as a means of payment for transactions and operations on the Ethereum platform.
Was this helpful?
264
79
CryptoAlly
Thu Jun 27 2024
On the other hand, ERC-20 is a technical standard that outlines the specifications for tokens that can be created and used on the Ethereum blockchain. These tokens, known as ERC-20 tokens, are designed to be fungible and compatible with smart contracts.
Was this helpful?
224
54
Dario
Thu Jun 27 2024
The key difference lies in their function and purpose. ETH is a utility token used for various transactions on the Ethereum network, while ERC-20 defines the rules for creating new tokens that can then be traded or used within smart contracts on the Ethereum ecosystem.
Was this helpful?
140
83
