Cryptocurrency Q&A
Is XRP an ERC-20?
Is XRP an ERC-20?
Carolina
Mon May 13 2024
|
7 answers
1916
Could you please clarify for me, is XRP considered an ERC-20 token? I've been hearing a lot about ERC-20 standards in the cryptocurrency world and I'm trying to understand the specifics of XRP in this context. As I understand, ERC-20 tokens are built on the Ethereum blockchain, but XRP seems to have its own independent infrastructure. Could you explain the difference between XRP and ERC-20 tokens, and whether XRP falls into the ERC-20 category or not? I'm interested in understanding the technical distinctions and how they impact the usage and functionality of these tokens.
7 answers
Elena
Wed May 15 2024
ERC-20 tokens and Ripple's XRP represent distinct digital assets within the realm of cryptocurrencies.
Was this helpful?
144
65
CryptoTitaness
Wed May 15 2024
ERC-20 tokens are specifically designed to adhere to a common set of rules, enabling compatibility across various blockchain platforms.
Was this helpful?
300
67
HanRiverVision
Wed May 15 2024
These tokens are built on the Ethereum network and leverage its smart contract functionality.
Was this helpful?
284
51
Alessandra
Tue May 14 2024
On the other hand, Ripple's XRP serves a different purpose within the Ripple payment protocol.
Was this helpful?
298
77
Valentina
Tue May 14 2024
XRP is intended to facilitate cross-border payments, offering faster and cheaper transactions compared to traditional methods.
Was this helpful?
336
27
Load 5 more related questions
