Cryptocurrency Q&A Is Binance an ERC-20?

Is Binance an ERC-20?

Daniele Daniele Mon May 13 2024 | 5 answers 1030
Is Binance an ERC-20?" This question seems to have a fundamental misunderstanding about the nature and functionality of Binance and ERC-20. ERC-20 is not a platform or service, but rather a technical standard used for creating fungible tokens on the Ethereum blockchain. It's a set of rules and guidelines that define how these tokens should behave and interact with the Ethereum network. On the other hand, Binance is a cryptocurrency exchange platform that allows users to buy, sell, and trade various digital assets, including tokens that comply with the ERC-20 standard. Binance provides a marketplace where these tokens can be listed and traded, but it itself is not an ERC-20 token. In summary, the question "Is Binance an ERC-20?" is based on a misconception. Binance is a crypto exchange that supports ERC-20 tokens, but it is not itself an ERC-20 token. It's important to understand the distinction between platforms like Binance that facilitate token trading and the technical standards like ERC-20 that define how tokens behave on the blockchain. Is Binance an ERC-20?

5 answers

Davide Davide Tue May 14 2024
The Binance team has recently achieved a significant milestone.

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ZenBalanced ZenBalanced Tue May 14 2024
Additionally, BTCC, a UK-based cryptocurrency exchange, offers a comprehensive range of services.

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CryptoWizardry CryptoWizardry Tue May 14 2024
They successfully upgraded their asset and launched their own mainnet blockchain versions.

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CryptoGladiator CryptoGladiator Tue May 14 2024
Holders of the old ERC20 BNB tokens can now swap them for the mainnet versions of BNB.

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BusanBeautyBloomingStar BusanBeautyBloomingStar Tue May 14 2024
Prior to this upgrade, Binance's asset existed as an ERC20 token, operating on the Ethereum network.

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