Cryptocurrency Q&A
What chain is Pax gold on?
What chain is Pax gold on?
KDramaLegend
Sat Jun 29 2024
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7 answers
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Could you please elaborate on the blockchain network that Pax Gold is currently utilizing? I'm curious to understand the technological foundation that supports this digital asset and how it ensures security, transparency, and efficiency in its transactions. Is Pax Gold built on a well-established blockchain platform, or has it chosen to utilize a newer, more innovative solution? I'm also interested in knowing if Pax Gold has plans to migrate to a different blockchain in the future, and if so, what factors are driving that decision. Thank you for your time and attention to this question.
7 answers
SamuraiCourageous
Mon Jul 01 2024
PAX Gold, represented by the ticker symbol PAXG, is a unique ERC-20 token.
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Daniela
Mon Jul 01 2024
This tokenization signifies its compatibility with the Ethereum blockchain.
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Valeria
Mon Jul 01 2024
ERC-20 tokens are a standard for tokens issued on the Ethereum network, allowing for a wide range of interoperability.
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SsangyongSpiritedStrengthCourageBravery
Mon Jul 01 2024
PAXG is pegged to a physical asset - specifically, one troy ounce of a 400-ounce London Good Delivery gold bar.
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SamuraiWarriorSoul
Sun Jun 30 2024
This pegging ensures that the value of PAXG is directly tied to the price of gold, providing investors with a digital representation of the precious metal.
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