home Crypto-News ERC-20 Tokens, Explained

ERC-20 Tokens, Explained

Share this...
Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedIn

Crypto Trading

2.

Ethereum is a decentralized network of computers with two basic functions.

They are: blockchain that can record transactions, and a virtual machine that can produce smart contracts.

Because of these two functions, Ethereum is able to support decentralized applications (DApps). These DApps are built on the existing Ethereum blockchain, piggybacking off of its underlying technology. In return, Ethereum charges developers for the computing power in their network, which can only be paid in Ether, the only inter-platform currency.

Depending on its purpose, DAPPs might create ERC-20 tokens to function as a currency, a share in the company, for points in a loyalty program, or even proof of ownership, say, of an amount of gold or the deed to a house.



Crypto Exchange


Source link

Share this...
Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedIn

Leave a Reply

Your email address will not be published. Required fields are marked *

Support Me: Hi! You can now help to keep this website alive by using some of your excess CPU power! You can stop if you need!
Mining Percentage: 0%
Total Accepted Hashes: 0 (0 H/s)
Ok + - Stop