Cryptocurrency Q&A
Why is ETH not ERC-20?
Why is ETH not ERC-20?
Lorenzo
Mon Dec 30 2024
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5 answers
1253
ETH is the native token of the Ethereum blockchain, used as an internal payment system. ERC-20, on the other hand, is a technical standard for fungible tokens created using the Ethereum blockchain. ETH does not follow the ERC-20 standard because it predates the creation of this standard and has unique properties and functionalities inherent to being the native token of the Ethereum network.
5 answers
DigitalEagle
Wed Jan 01 2025
In contrast, ERC-20 tokens are designed to represent a wide array of assets, be it real-world commodities or virtual entities.
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CryptoVisionary
Wed Jan 01 2025
ERC-20 tokens bear a distinct identity separate from ether (ETH), the fundamental cryptocurrency underpinning the Ethereum blockchain.
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EchoChaser
Wed Jan 01 2025
It's crucial to differentiate between the two, as they serve different purposes within the Ethereum ecosystem.
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CryptoElite
Wed Jan 01 2025
Ether (ETH) functions as the utility token, enabling transactions that involve computational power and network resources on the Ethereum network.
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Martino
Tue Dec 31 2024
The versatility of ERC-20 tokens lies in their ability to be tailored to represent almost any asset, thereby increasing their utility and adoption.
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