Cryptocurrency Q&A
What is an ERC-20 wallet?
What is an ERC-20 wallet?
Elena
Sun May 12 2024
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5 answers
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Could you please enlighten me on what an ERC-20 wallet actually is? I've heard it mentioned quite frequently in the cryptocurrency circles, but I'm still not quite sure about its specific function and purpose. Is it a special type of wallet designed specifically for ERC-20 tokens? Or does it have broader applications? Could you also explain how it differs from other types of wallets? I'm quite interested in understanding the intricacies of the crypto world, so your detailed explanation would be greatly appreciated.
5 answers
EnchantedSky
Tue May 14 2024
ERC-20 tokens have diverse use cases and applications.
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Davide
Tue May 14 2024
One common application is as utility tokens, which provide access to certain services or products.
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Carlo
Tue May 14 2024
ERC-20 represents a standardized format.
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SumoStrength
Tue May 14 2024
It facilitates the creation, issuance, and management of fungible tokens on the Ethereum blockchain.
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SamsungSpark
Tue May 14 2024
Developers use ERC-20 as a reference when creating these tokens.
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