Questions tagged [erc-20]

AndrewMiller Wed May 22 2024 | 5 answers 1067

Could you please clarify for me if Sui is indeed an ERC-20 token? I've been hearing a lot about it recently and am trying to understand its technical specifications. ERC-20 tokens are a standard in the Ethereum ecosystem, so it would be helpful to know if Sui follows the same guidelines or if it has its own unique characteristics. Could you also explain the significance of Sui in the larger context of cryptocurrency and finance? Thank you for your assistance in clarifying this matter.

HanbokGlamourQueenElegance Wed May 22 2024 | 5 answers 1213

Is THORChain categorized as an ERC-20 token? I've heard some discussions about it being built on Ethereum, but I'm not entirely sure if that makes it an ERC-20. Could you clarify this for me? I'm trying to understand the technical details behind THORChain and how it fits into the larger cryptocurrency ecosystem. It seems to have some unique features compared to other projects, but I'm still wrapping my head around it. Thanks for your help!

BonsaiGrace Mon May 20 2024 | 5 answers 1286

ERC-20, what does that mean? It sounds like some sort of technical jargon from the cryptocurrency world. Could you explain it to me in a way that's easy to understand? I've heard it mentioned in discussions about tokens and smart contracts, but I'm not quite sure what it stands for or what its significance is. Is it a standard or a protocol? And how does it fit into the broader ecosystem of blockchain technology and finance? I'm really curious to learn more about it.

HanRiverVisionary Mon May 20 2024 | 7 answers 1680

I'm just a bit confused about mnt tokens. Could you possibly clarify whether mnt is an ERC-20 token? I've heard that ERC-20 is a standard for tokens issued on the Ethereum blockchain, but I'm not entirely sure if mnt falls into that category. It would be great if you could explain the characteristics of ERC-20 tokens and how mnt, if it is indeed ERC-20, fits into that framework. Also, it would be helpful to know if there are any specific benefits or drawbacks of mnt being ERC-20, in terms of its functionality and use cases within the crypto and finance world. Thank you for your assistance in clearing up this matter for me.

Michele Mon May 20 2024 | 5 answers 1207

Is ERC-20 a TUSD?" This question seems to mix up two distinct concepts in the cryptocurrency world. ERC-20 is actually a technical standard used for smart contracts on the Ethereum blockchain. It defines a common set of rules for tokens issued on Ethereum, allowing them to be compatible with each other and with various wallets and exchanges. On the other hand, TUSD, which stands for TrueUSD, is a specific type of stablecoin designed to maintain a one-to-one peg with the US dollar. It's issued and managed by a consortium of financial institutions and regulated entities. So, to answer the question directly, ERC-20 is not TUSD. ERC-20 is a standard that TUSD (or any other token on Ethereum) might adhere to, but it's not the same thing as TUSD itself. ERC-20 tokens are often used for a wide range of purposes, including representing company shares, utility tokens, or even other cryptocurrencies. TUSD, on the other hand, is specifically designed to serve as a stable store of value and a means of exchange. It's important to understand these distinctions when navigating the cryptocurrency ecosystem, as they can have significant implications for investors and users alike.