Cryptocurrency Q&A
What network is PAXG on?
What network is PAXG on?
CherryBlossomFall
Sun Jun 30 2024
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7
answers
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Could you please elaborate on the network that PAXG, or Physically-Backed Gold Token, operates on? Given the nature of this digital asset being physically backed by gold, it's crucial to understand the technological underpinnings that facilitate its transactions and ensure its security. I'm particularly interested in knowing if PAXG utilizes a blockchain-based network and if so, which one specifically. Additionally, I'm curious about the benefits and considerations of this choice in terms of scalability, decentralization, and overall efficiency for users and investors alike.
7 answers
SsangyongSpiritedStrengthCourage
Tue Jul 02 2024
Paxos Gold, a digital asset, utilizes the Ethereum blockchain as its underlying technology.
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AzrilTaufani
Mon Jul 01 2024
This integration allows Paxos Gold to inherit the robustness and security features of the Ethereum network.
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CryptoPioneer
Mon Jul 01 2024
This fee, amounting to approximately 0.02%, covers the operational costs associated with managing these tokens on the Ethereum blockchain.
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SkyWalkerEcho
Mon Jul 01 2024
Transactions involving PAXG tokens adhere strictly to the smart contract rules defined by Ethereum.
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WhisperInfinity
Mon Jul 01 2024
BTCC, a UK-based cryptocurrency exchange, offers a comprehensive range of services to its customers.
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