Cryptocurrency Q&A
What is the difference between ERC-20 and native token?
What is the difference between ERC-20 and native token?
CryptoMystic
Sun Jun 23 2024
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7 answers
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Could you elaborate on the distinction between ERC-20 tokens and native tokens in the cryptocurrency ecosystem? Specifically, I'm interested in understanding how they differ in terms of functionality, compatibility, and usage scenarios. Does ERC-20 rely on the Ethereum blockchain while native tokens have their own blockchains? Are there any advantages or disadvantages to using one over the other? Furthermore, how do investors and developers typically approach these tokens in terms of adoption and integration? I'd appreciate a concise yet comprehensive explanation of the key differences.
7 answers
Alessandro
Tue Jun 25 2024
The Ethereum network enables developers to create decentralized applications and smart contracts, furthering its utility and popularity.
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SejongWisdomSeeker
Tue Jun 25 2024
ERC-20, on the other hand, represents a standard that outlines the rules and regulations for creating fungible tokens on the Ethereum blockchain.
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DigitalDragon
Tue Jun 25 2024
Ether, commonly referred to as ETH, serves as the fundamental token powering the Ethereum blockchain and network.
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ShintoSanctuary
Tue Jun 25 2024
These tokens, often referred to as ERC-20 tokens, are compliant with the ERC-20 standard and can be used in various applications within the Ethereum ecosystem.
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IncheonBeautyBloomingRadiance
Tue Jun 25 2024
As an integral component, ETH functions as an internal payment system within the Ethereum ecosystem.
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