Cryptocurrency Q&A
Is EGLD an ERC-20?
Is EGLD an ERC-20?
GeishaMelody
Mon Jun 24 2024
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5 answers
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I'm curious to understand the technical underpinnings of EGLD. Could you please clarify if EGLD is an ERC-20 token? Given the plethora of cryptocurrencies in the market, it's important to differentiate between different blockchain standards and token types. If EGLD is not an ERC-20, what blockchain standard does it adhere to? And how does this affect its functionality and interoperability with other crypto assets? I'd appreciate a concise yet informative explanation of EGLD's technical characteristics.
5 answers
HanjiArtistryCraftsmanshipMasterpiece
Wed Jun 26 2024
Embedded directly within the protocol, ESDT facilitates the issuance of custom tokens by leveraging the network's inherent advantages.
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Chiara
Wed Jun 26 2024
The eStandard Digital Token (ESDT) serves as a generalized standard for the MultiversX blockchain platform, analogous to MultiversX's rendition of the ERC20 token.
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Caterina
Tue Jun 25 2024
These advantages include swift transaction speeds, making it an efficient choice for token minting and transfer.
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Elena
Tue Jun 25 2024
The cost of minting an ESDT token is minimal, requiring only 0.05 eGLD, while the cost of transferring these tokens is even lower, at 0.00005 eGLD.
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BlockchainWizardGuard
Tue Jun 25 2024
The flexibility of ESDT allows users to leverage the MultiversX blockchain's capabilities to create and manage their own digital assets, tailored to specific use cases.
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