Cryptocurrency Q&A
Is ERC and ETH same?
Is ERC and ETH same?
noah_smith_researcher
Mon May 13 2024
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5 answers
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I've often heard about ERC and ETH in the context of cryptocurrency, but I'm not quite sure if they're the same thing or not. Could you please clarify for me? Are ERC and ETH interchangeable terms, or do they refer to distinct concepts within the realm of blockchain and digital assets? I'm particularly interested in understanding the difference between them, if any, and how they relate to the Ethereum network and its ecosystem. Your explanation would be greatly appreciated!
5 answers
Valentina
Wed May 15 2024
The ERC20 is not synonymous with the ETH Network.
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Pietro
Wed May 15 2024
Ethereum, a blockchain technology, has a native cryptocurrency called ether, or ETH.
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CryptoWizardry
Wed May 15 2024
ERC20, on the other hand, refers to a standardization proposal implemented for smart contracts on the Ethereum platform.
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Stefano
Wed May 15 2024
While both ETH and ERC20 are components of the Ethereum ecosystem, they serve distinct purposes.
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SamuraiCourage
Tue May 14 2024
ETH is the fuel that powers transactions and smart contract executions on the Ethereum blockchain.
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