Cryptocurrency Q&A
Why is ERC-20 more expensive?
Why is ERC-20 more expensive?
Lorenzo
Mon May 13 2024
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7 answers
1769
Why is ERC-20 priced higher than other options? Could you elaborate on the reasons behind this? Is it due to the unique features it offers on the Ethereum blockchain? Or perhaps the widespread adoption and popularity it has gained in the crypto community? Understanding the factors that contribute to its higher cost would help us appreciate its value better. Could you break down these reasons for us, please?
7 answers
isabella_bailey_economist
Wed May 15 2024
This increased cost is primarily attributed to the involvement of smart contracts.
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HanjiArtistryCraftsmanshipMasterpiece
Wed May 15 2024
The network fee for ERC-20 tokens, such as USDT or USDC, is typically steeper than sending Ethereum alone.
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SapphireRider
Wed May 15 2024
Similarly, executing actions within applications on the Ethereum network, like decentralized exchanges or NFT marketplaces, also commands a higher cost.
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SamsungSpark
Tue May 14 2024
Among its offerings, BTCC provides spot trading, futures trading, and a secure wallet solution, enabling users to seamlessly manage their digital assets.
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Giulia
Tue May 14 2024
Smart contracts, being more complex than standard transactions, require additional verifications on the blockchain.
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