CryptoKnight
Sun May 12 2024
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7 answers
1747
What is the difference between ETH and ERC-20 token?
Ah, indeed, ETH and ERC-20 token, two integral components of the Ethereum ecosystem, yet distinctly different in nature. Could you please elaborate on the fundamental difference between them? ETH, as we all know, is the native cryptocurrency of the Ethereum blockchain, serving as a medium of exchange and a store of value. It fuels the network, powering transactions and smart contract executions. On the other hand, ERC-20 token, as its name suggests, is a type of token that adheres to the ERC-20 standard, a set of rules and guidelines for creating fungible tokens on the Ethereum blockchain. These tokens can represent various assets or utilities, and they interact with the blockchain through smart contracts. So, in essence, ETH is the fundamental currency of the Ethereum network, while ERC-20 tokens are built on top of it, leveraging its functionalities to offer a wide range of applications and utilities. Does this clarify the difference between them?
SakuraSpirit
Sun May 12 2024
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7 answers
1534
How do I transfer my ERC-20 token?
Could you please elaborate on the process of transferring ERC-20 tokens? I'm a bit new to this and want to ensure I do it correctly. What wallet should I use? Are there any specific steps I need to follow? Also, are there any fees involved in the transfer? It would be great if you could provide a step-by-step guide on how to accomplish this. Thank you in advance for your help!
