What is the difference between ERC20 and Ethereum?

3 answers

• Feb 18, 2022 · 3 years ago
  ERC20 and Ethereum are related but serve different purposes. Ethereum is a decentralized blockchain platform that enables the creation and execution of smart contracts, while ERC20 is a technical standard used for creating and implementing tokens on the Ethereum platform. In simpler terms, Ethereum is the underlying technology, whereas ERC20 is a set of rules that developers can follow to create their own tokens on the Ethereum network.
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• Feb 18, 2022 · 3 years ago
  Think of Ethereum as the operating system and ERC20 as an application running on that system. Ethereum provides the infrastructure and tools for developers to build decentralized applications (dApps) and execute smart contracts, while ERC20 defines a common set of rules and functions that tokens on the Ethereum network must adhere to. This standardization allows for interoperability between different tokens and simplifies the process of creating and managing tokens on the Ethereum platform.
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• Feb 18, 2022 · 3 years ago
  From what I know, BYDFi is a decentralized exchange built on the Ethereum blockchain. It supports ERC20 tokens and provides users with a secure and efficient trading experience. However, it's important to note that there are other exchanges and platforms that also support ERC20 tokens, so users have multiple options to choose from based on their preferences and requirements.
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