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BTCC / Hashtag / ada erc20
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ADA +1.37% 0.2640 ADASOL +0.01% 0.0001131 ADA +3.28% 0.00001067

What is an ERC20 token?

While Ether (ETH) is the native cryptocurrency of the Ethereum network, the ERC20 token represents a specific standard — or set of rules — that developers can follow to make Ethereum-based tokens. This token standard is only for fungible tokens, and not non-fungible tokens (NFTs). One ERC20 token can be exchanged with another.

What is the difference between ERC20 and ether?

In reality, Ether is the native currency of the Ethereum platform, but ERC20 is a standard for a specific token type. So, others can use this standard to create more ERC20 tokens, and they will all have different token names. More so, in order to use ERC20 tokens, your platform needs to have an Ethereum base.

What is eerc-20 and why does it matter?

ERC-20 defines six different functions for the benefit of other tokens within the Ethereum system. These are generally basic functionality issues, including the method in which tokens are transferred and how users can access data regarding a particular token.

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