Cryptocurrency Q&A
Is IoTeX built on Ethereum?
Is IoTeX built on Ethereum?
BusanBeautyBloom
Thu Jun 27 2024
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7 answers
1542
Could you elaborate on the relationship between IoTeX and Ethereum? I've heard some speculation that IoTeX is built on the Ethereum blockchain, but I'm not entirely sure. Could you clarify if this is true? If not, could you explain the differences between the two platforms? Specifically, I'm interested in how their consensus mechanisms, scalability solutions, and interoperability features compare. Additionally, could you discuss any potential synergies or areas of collaboration between IoTeX and Ethereum in the future?
7 answers
lucas_clark_artist
Sat Jun 29 2024
The IOTX ERC20 token serves as the initial embodiment of the IOTX token, having been released on the Ethereum blockchain.
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Daniela
Sat Jun 29 2024
Once the IoTeX blockchain reached maturity and was ready for mainnet deployment, the ERC20 token was swapped for the native IOTX token.
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Leonardo
Sat Jun 29 2024
This ERC20 token was issued during the initial development phase of the IoTeX blockchain protocol.
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benjamin_doe_philosopher
Sat Jun 29 2024
The ERC20 standard allows for tokens to be issued on the Ethereum network, ensuring compatibility and interoperability.
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Daniele
Sat Jun 29 2024
The IOTX ERC20 token was used as a placeholder for the eventual native IOTX token on the IoTeX blockchain.
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