Cryptocurrency Q&A
What is the token under Ethereum blockchain?
What is the token under Ethereum blockchain?
isabella_taylor_activist
Tue Sep 17 2024
|
7 answers
1360
Can you please explain in simple terms what exactly is the token under the Ethereum blockchain? I understand it's related to cryptocurrency and blockchain technology, but I'm not entirely sure what its purpose or function is within the Ethereum ecosystem. Is it similar to Bitcoin or does it have unique features and capabilities? I'm looking for a concise yet informative answer that can help me grasp the basics of this concept.
7 answers
CryptoGladiatorGuard
Thu Sep 19 2024
ERC-20 represents the technical blueprint for the creation of interchangeable tokens on the Ethereum blockchain. It establishes a common set of rules and standards for the issuance and management of such tokens.
Was this helpful?
55
49
Arianna
Wed Sep 18 2024
Fungible tokens, as defined by ERC-20, possess the quality of being interchangeable with one another. This means that one ERC-20 token can be exchanged for another of the same type without any loss of value or unique attributes.
Was this helpful?
217
62
Tommaso
Wed Sep 18 2024
Among BTCC's services are spot trading, which allows users to buy and sell ERC-20 tokens at market prices, and futures trading, which enables traders to speculate on the future price movements of these tokens.
Was this helpful?
284
70
BlockchainVisionary
Wed Sep 18 2024
BTCC also provides a secure wallet service for storing ERC-20 tokens and other digital assets. The wallet is designed to keep users' funds SAFE and accessible, with features like multi-signature security and two-factor authentication.
Was this helpful?
166
71
Valentina
Wed Sep 18 2024
In contrast, non-fungible tokens (NFTs), such as those adhering to the ERC-721 standard, are not interchangeable. Each NFT is unique and holds distinct value, making them suitable for representing digital assets like art, collectibles, and real estate.
Was this helpful?
129
23
Load 5 more related questions
