Cryptocurrency Q&A
Is ERC-20 the same as Ethereum?
Is ERC-20 the same as Ethereum?
Lucia
Wed Nov 06 2024
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7 answers
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ERC-20 is not the same as Ethereum. ERC-20 refers to a standard for tokens on the Ethereum blockchain, while Ethereum is the underlying blockchain platform that enables the creation and deployment of smart contracts and decentralized applications.
7 answers
GinsengGlory
Fri Nov 08 2024
Smart contracts on Ethereum are programmed to execute terms of a contract automatically once conditions are met. This eliminates the need for intermediaries and reduces transaction costs significantly.
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AzureWave
Fri Nov 08 2024
By adhering to the ERC20 standard, developers can create tokens that can be easily traded, transferred, and managed on Ethereum's blockchain. This standardization facilitates seamless integration and interaction among various tokens and services.
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KabukiPassion
Fri Nov 08 2024
Decentralized applications, or dApps, leverage Ethereum's blockchain to offer services in a transparent and secure manner. They operate without any central authority, ensuring user autonomy and data privacy.
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SoulStorm
Fri Nov 08 2024
Cryptocurrencies built on Ethereum benefit from the platform's advanced features, including scalability and interoperability. They can be easily integrated into various applications and services.
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Caterina
Fri Nov 08 2024
ERC20 is a crucial standard within the Ethereum ecosystem. It defines a common set of rules and guidelines for creating smart contracts on Ethereum. This ensures compatibility and interoperability among different tokens and dApps.
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