Cryptocurrency Q&A
Is ERC20 the same as USDT?
Is ERC20 the same as USDT?
Enrico
Mon May 13 2024
|
6 answers
1401
I'm curious about something related to cryptocurrency tokens. Could you please clarify if ERC20 is synonymous with USDT? I've heard both terms used interchangeably in some discussions, but I'm not entirely sure if they refer to the same thing. ERC20, I understand, is a technical standard used for smart contracts on the Ethereum blockchain, enabling the creation of fungible tokens. And USDT, I know, is a stablecoin pegged to the US dollar. But does the ERC20 standard automatically mean a token is USDT, or can ERC20 tokens represent various assets and values? I'm a bit confused about the relationship between these two concepts and how they are distinct or interconnected. Could you please explain?
6 answers
JejuJoyfulHeart
Wed May 15 2024
TRC20 Tether functions within the TRON blockchain network.
Was this helpful?
334
52
Arianna
Wed May 15 2024
It provides transactions that are notably faster and more cost-effective.
Was this helpful?
95
34
Nicolo
Tue May 14 2024
This is in contrast to ERC20 Tether, which relies on the Ethereum blockchain.
Was this helpful?
57
42
Chiara
Tue May 14 2024
Tether, also known as USDT, has two primary forms.
Was this helpful?
222
43
GeishaMelodious
Tue May 14 2024
TRC20 and ERC20 are the two main variants, each tailored for specific blockchain ecosystems.
Was this helpful?
362
57
Load 5 more related questions
