How Ethereum based token(ERC-20) are different then others?

prasad87

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Quote from: sikandar1@3 on January 22, 2019, 09:32:05 AM

I saw many upcoming projects are offering same kind of ERC 20 token which can get through any Ethereum wallet. It doesn't need any specific wallet. On the other hand hand some crypto companies have unique code and they have specific wallets for their tokens. I am a little confused which kind of token is better. ERC 20 or either the unique one ?

With ERC20 your token is secured by the Ethereum network.
Custom made blockchains outside the top 20 in market cap are easy 51% attack targets.
If your coin does not need its own blockchain I think ERC20 is better.

sikandar1@3

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Quote from: DominickA86 on January 22, 2019, 09:36:32 AM

Tokens are based on major coins blockchains. ERC-20 tokens are tokens that are based on Ethereum blockchain and you can store them on any Ethereum wallet. NEP-5 tokens are tokens that are based on NEO blockchain and could be stored in a NEO wallet. However, ETH and NEO are coins.

are these EOS based projects are just like ETH and NEO based blockchain or is it a different kind of thing ?

marcitosi

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it is more comfortable to make new projects for developers on the ethereum blockchain as it offers many advantages

marksayson

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Quote from: sikandar1@3 on January 22, 2019, 09:32:05 AM

I saw many upcoming projects are offering same kind of ERC 20 token which can get through any Ethereum wallet. It doesn't need any specific wallet. On the other hand hand some crypto companies have unique code and they have specific wallets for their tokens. I am a little confused which kind of token is better. ERC 20 or either the unique one ?

It does not have a unique code, it is just a token that is manage by ethereum wallet blockchain. And the most common part of it, it starts with the address of 0x.

Ahamefula Nwokocha

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Quote from: Afiqa03 on January 22, 2019, 02:09:02 PM

Which type of token is better. ERC 20 or a unique one, for me that is good which gives tangible results. and I am more inclined to ERC 20. Even though many programs now use unique wallet numbers.

Quote from: DominickA86 on January 22, 2019, 09:36:32 AM

Tokens are based on major coins blockchains. ERC-20 tokens are tokens that are based on Ethereum blockchain and you can store them on any Ethereum wallet. NEP-5 tokens are tokens that are based on NEO blockchain and could be stored in a NEO wallet. However, ETH and NEO are coins.

Reply:Ethereum platforms ERC20 is standardized,reliable and sturdy.With their numerous digital reasonable security is achieved

marseille

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Quote from: sikandar1@3 on January 22, 2019, 09:32:05 AM

I saw many upcoming projects are offering same kind of ERC 20 token which can get through any Ethereum wallet. It doesn't need any specific wallet. On the other hand hand some crypto companies have unique code and they have specific wallets for their tokens. I am a little confused which kind of token is better. ERC 20 or either the unique one ?

It seems to me that at the moment erc20 is better because this is so far this is the only protocol that works and this is proven by the number of transactions. They have a huge team and they do not pursue the goal of quick money. this is the most important thing in my opinion

Alluro

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ERC20 tokens mean Ethereum based tokens. The difference is the blockchain platforms. I think the Ethereum is the top smart contract based blockchain platform. Then it's made easy to project owners to raise funds and deliver tokens.

Afiqa03

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Which type of token is better. ERC 20 or a unique one, for me that is good which gives tangible results. and I am more inclined to ERC 20. Even though many programs now use unique wallet numbers.

kindbtc

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I think you are confusing tokens with coins, projects with their own coins or blockchain tend to have their own unique wallets and erc tokens are generated on eth network and require just a compatible eth wallet, personally i like it simple and smooth with erc tokens than new coins.

slashz9

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it depends on which wallet you prefer to use and make you comfort.
at this time, i prefer use ERC20 wallet then any smartcontract platform.

cokroalif

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ERC-20 tokens are tokens that are designed and used on the Ethereum platform.

They follow certain standards such as can be shared, exchanged with other tokens, or transferred to the crypto wallet.

The Ethereum community makes this standard with 3 optional rules and 6 basic rules.

Optional Rules

Token Name
Symbol
Decimal (up to 18)

Mandatory Rules

total supply
balanceOf
transfer
transferFrom
approve
allowance

waitforme

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Quote from: sikandar1@3 on January 22, 2019, 09:32:05 AM

I saw many upcoming projects are offering same kind of ERC 20 token which can get through any Ethereum wallet. It doesn't need any specific wallet. On the other hand hand some crypto companies have unique code and they have specific wallets for their tokens. I am a little confused which kind of token is better. ERC 20 or either the unique one ?

I know that Altcoins are created based on the foundation of other Altcoins called Tokens and its development is based on that platform. Altcoins have their Blockchain platform called coins, and it is easy to develop platforms regardless of anything.

marks1976

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Quote from: sikandar1@3 on January 22, 2019, 09:32:05 AM

I saw many upcoming projects are offering same kind of ERC 20 token which can get through any Ethereum wallet. It doesn't need any specific wallet. On the other hand hand some crypto companies have unique code and they have specific wallets for their tokens. I am a little confused which kind of token is better. ERC 20 or either the unique one ?

An asset on any blockchain has the different spesification. ethereum has a specific wallet just like metamask, symphony, etc. but since ethereum is a decentralized platforms and community able to contribute through create the new wallet that has the more features.

anjohyx

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As I know that it's just a platform, just like other platform such as Neo and Waves, it's depend on project dev, all of them have a lot of supporter, sometime project release Erc20 tokens just a temporary tokens and they will swap erc20 to their own blockchain later.

target

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Quote from: sikandar1@3 on January 22, 2019, 09:32:05 AM

I saw many upcoming projects are offering same kind of ERC 20 token which can get through any Ethereum wallet. It doesn't need any specific wallet. On the other hand hand some crypto companies have unique code and they have specific wallets for their tokens. I am a little confused which kind of token is better. ERC 20 or either the unique one ?

It all depend to the features advantages a token will offer. Some platform like the one mentioned above is NEO which offers GAS as passive income for the NEO token holders. ITs one hell of a good investment for a holder. There are more of these platforms like EOS, WAVES, NEM and so on. Its up for you to learn them all.

cytpoway121

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Quote from: sikandar1@3 on January 22, 2019, 09:32:05 AM

I saw many upcoming projects are offering same kind of ERC 20 token which can get through any Ethereum wallet. It doesn't need any specific wallet. On the other hand hand some crypto companies have unique code and they have specific wallets for their tokens. I am a little confused which kind of token is better. ERC 20 or either the unique one ?

it is quite easy to differentiate. the difference is just the platforms.

ERC-20 Tokens are projects based on etherum blockchain network, that is they have their own contract address or better still smart contract which explains how they got they the tokens created.

There are also nem blockchain projects, stellar blockchain projects and also neo blockchain projects.

DominickA86

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Tokens are based on major coins blockchains. ERC-20 tokens are tokens that are based on Ethereum blockchain and you can store them on any Ethereum wallet. NEP-5 tokens are tokens that are based on NEO blockchain and could be stored in a NEO wallet. However, ETH and NEO are coins.

sikandar1@3

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I saw many upcoming projects are offering same kind of ERC 20 token which can get through any Ethereum wallet. It doesn't need any specific wallet. On the other hand hand some crypto companies have unique code and they have specific wallets for their tokens. I am a little confused which kind of token is better. ERC 20 or either the unique one ?

Topic: How Ethereum based token(ERC-20) are different then others? (Read 168 times)