Cryptocurrency Q&A
What is the difference between ERC20 network and Ethereum network?
What is the difference between ERC20 network and Ethereum network?
isabella_taylor_activist
Mon May 13 2024
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5 answers
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Could you please elaborate on the fundamental distinctions between the ERC20 network and the Ethereum network? As I understand, ERC20 is often referenced in the context of Ethereum, but I'm still unclear about the exact differences between them. Is ERC20 a separate network or simply a standard within the Ethereum ecosystem? If it's a standard, how does it interact with the Ethereum network? And how does this interaction impact the overall functionality and usage of cryptocurrencies based on the ERC20 standard? Your clarification on these points would greatly assist me in grasping the nuances of this complex yet fascinating field.
5 answers
ShintoMystical
Wed May 15 2024
Ether, the native cryptocurrency of the Ethereum network, plays a pivotal role in powering and executing smart contracts.
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Nicola
Tue May 14 2024
As the 'fuel' of the Ethereum ecosystem, Ether is essential for executing transactions and deploying decentralized applications.
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QuasarGlider
Tue May 14 2024
ERC-20 tokens, on the other hand, represent a technical standard that facilitates the creation of smart contracts on the Ethereum blockchain.
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SsamziegangStroll
Tue May 14 2024
These tokens are commonly used for fundraising purposes, particularly through initial coin offerings (ICOs), enabling projects to raise funds in a decentralized manner.
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Ilaria
Tue May 14 2024
BTCC, a UK-based cryptocurrency exchange, offers a comprehensive suite of services to cater to the needs of crypto enthusiasts and investors.
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