Ethereum and tokens | Bitcointalksearch.org

nioctiB#1

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Quote from: 787875 on January 09, 2018, 09:25:42 AM

I have a few questions about Ethereum and tokens.

1. Do i need to save the private key and json file if i use MEW wallet with Ledger nano s?

2. Tokens that run on Ethereum blockchain , how does that work?

2a. If i send for example Modum, does Modum use the same blockchain as Ethereum or some kind of sidechain?

3. What is really ERC20 tokens?

4. Is gas limit the same as transcation fee is for Bitcoin?

1. You only need one, choose if you want json file or private key to access your etheruem wallet in myetherwallet.
2. Yes all token that is created in ethereum smart contracts uses the same blockchain with ethereum. this is why ethereum experienced delay or scaling problem when this cat game gets trending.
3. Erc20 tokens are assets that are created under ethereums platform. Erc means "ethereum request for comments”. This is a protocol for proposing improvements to the Ethereum network. 20 is the unique proposal ID number.
4. Yes it is the same as bitcoin transaction fee.

787875

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Bump

787875

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Activity: 75

Merit: 10

Thank you for all your answers. As usual this give me even more questions.

Have a few more.

1. If now every ERC20 token uses the same blockchain as Ethereum, this means that Ethereum can process extreme amounts of transactions? There are well over 100 ERC20 tokens, while Bitcoin can't even handle itself. Is this correct?

2. All ERC20 tokens are airdopped/not minable? I guess ERC20 tokens have there limit because of Ethereum, and are very dependable what Ethereum are doing?

3. How can i send an ERC20 token on the Eth network when they uses the same adress, how can the blockchain know if i send Eth or modum?

4. Eth and btc uses different blockchains, btc has their own blockchain and Bitcoin Cash is a sidechain of bitcoin blockchain? while ERC20 tokens uses Eths blockchain. Stratis,waves, Cardano and so on have also their own blockchain? Which means they all have seperate wallets? If this is correct it would means that every coin that doesn't uses Eth or Btc blockchain have their own wallet?

5. Have you any examples of Dapps except Cryptokitties?

khungcuaso11

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Quote from: lizardbtc on January 09, 2018, 10:59:31 AM

Quote from: 787875 on January 09, 2018, 09:25:42 AM

I have a few questions about Ethereum and tokens.

1. Do i need to save the private key and json file if i use MEW wallet with Ledger nano s?

2. Tokens that run on Ethereum blockchain , how does that work?

2a. If i send for example Modum, does Modum use the same blockchain as Ethereum or some kind of sidechain?

3. What is really ERC20 tokens?

4. Is gas limit the same as transcation fee is for Bitcoin?

Ether is the main token that exists in ethereum blockchain, it was built mainly to be the gass on the network. Ethereum was built to enable smart contracts - this we can see being developed really well by many devs right now, and of course for dApps aka decentralzied applications. In order for tokens, smart contracts and dApps to happen on ethereum network you need Ether the main token on ethereum, its like paying bitcoin fees with bitcoin, just this gass is a fee for everything you do with blockchain there in some way.

ERC20 tokens are made as contracts of some sort and relativly easier to create than to fork original bitcoin code and create an altcoin. So in short these ERC20 tokens are simply contracts in ethereum network that require gass or ether to transact.

Quote from: khungcuaso11 on January 09, 2018, 10:58:56 AM

I read the topic is still not clear at item#2, someone please explain to me, finally:
- Does ethereum on blockchain.info get a token, is it different from myetherwallet?
Thanks!

blockchain.info is just a wallet provider nothing else. From my knowledge they don't offer you the option to send tokens but you can rreceive it to your blockchain.info wallet just you won't see them there, you will need https://etherscan.io/ to see your tokens. But as blockchain info give you an option to export your private keys which means that you can stll use your address to send out tokens but for this you will need myetherwallet for instance or some other wallet provider or install full node.

Hi Lizardbtc,
Thank you very much for sharing your.
Good luck!

lizardbtc

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Quote from: 787875 on January 09, 2018, 09:25:42 AM

I have a few questions about Ethereum and tokens.

1. Do i need to save the private key and json file if i use MEW wallet with Ledger nano s?

2. Tokens that run on Ethereum blockchain , how does that work?

2a. If i send for example Modum, does Modum use the same blockchain as Ethereum or some kind of sidechain?

3. What is really ERC20 tokens?

4. Is gas limit the same as transcation fee is for Bitcoin?

Ether is the main token that exists in ethereum blockchain, it was built mainly to be the gass on the network. Ethereum was built to enable smart contracts - this we can see being developed really well by many devs right now, and of course for dApps aka decentralzied applications. In order for tokens, smart contracts and dApps to happen on ethereum network you need Ether the main token on ethereum, its like paying bitcoin fees with bitcoin, just this gass is a fee for everything you do with blockchain there in some way.

ERC20 tokens are made as contracts of some sort and relativly easier to create than to fork original bitcoin code and create an altcoin. So in short these ERC20 tokens are simply contracts in ethereum network that require gass or ether to transact.

Quote from: khungcuaso11 on January 09, 2018, 10:58:56 AM

I read the topic is still not clear at item#2, someone please explain to me, finally:
- Does ethereum on blockchain.info get a token, is it different from myetherwallet?
Thanks!

blockchain.info is just a wallet provider nothing else. From my knowledge they don't offer you the option to send tokens but you can rreceive it to your blockchain.info wallet just you won't see them there, you will need https://etherscan.io/ to see your tokens. But as blockchain info give you an option to export your private keys which means that you can stll use your address to send out tokens but for this you will need myetherwallet for instance or some other wallet provider or install full node.

khungcuaso11

newbie

Activity: 182

Merit: 0

I read the topic is still not clear at item#2, someone please explain to me, finally:
- Does ethereum on blockchain.info get a token, is it different vs myetherwallet?
Thanks!

LuBro

member

Activity: 210

Merit: 12

I would say that it is really important to save every security datas for later on! I was happy, that I printed my Private Key and saved the JSON file..
But if you're using the Ledger it is much safer.
For your last answer I recommend this: https://ethgasstation.info/
MadGamer helped you a lot I think

MadGamer

legendary

Activity: 1568

Merit: 1031

1. If you're running through the Ledger nano S then no, you don't need any JSON files.
2. They are built inside Ethereum blockchain (ERC20 tokens) just like Tether is built inside Bitcoin blockchain (Omni tokens) - If Modum is an ERC20 token then yes, It uses the same blockchain.
3. See answer above.
4. https://www.cryptocompare.com/coins/guides/what-is-the-gas-in-ethereum/

787875

member

Activity: 75

Merit: 10

I have a few questions about Ethereum and tokens.

1. Do i need to save the private key and json file if i use MEW wallet with Ledger nano s?

2. Tokens that run on Ethereum blockchain , how does that work?

2a. If i send for example Modum, does Modum use the same blockchain as Ethereum or some kind of sidechain?

3. What is really ERC20 tokens?

4. Is gas limit the same as transcation fee is for Bitcoin?

Topic: Ethereum and tokens (Read 121 times)