Topic: How ethereum token works? (Read 72 times)
In terms of popularity, eth is the most common coin in the market, which can be integrated with all other tokens of ICO projects. So eth is worth a penny for us to invest and hold now.
Basically Crypto market is so huge because almost 1500 coins are their and many is coming and many big companies creating their own also Eth is the one of the best coin in the market its known as altcoin they are famous for their tech and facilities to their customers based on project this token helps their customers.
Ethereum token is a essential thing for ethereum. Many tokes are store in one address. In wallet you can also hold your asset. After that it can be store in your exchange.
In the Ethereum adress a lot of ethereum tokens can be stored. Because that is an asset. So, no maximum or minimum limitation are counted for holding assets. Thenn in your adress the token will be deposited and soon it will be sent to the main exchange site.
So I checked some exchange site's token's address of mine, I find that all erc20 token's address are all the same ethereum address.
How is this possible? Same address per each user, then how we know specific tokens are deposited?
A lot of ethereum token has been stored to the same address. Because that is not a coin but it's an ethereum asset. So, there is no maximum or limitation for every wallet to hold how many asset. The token will be deposited into your address and it will be sent to the main address of exchange site. How is this possible? Same address per each user, then how we know specific tokens are deposited?
I guess you must get knowledge regard to ERC20. It's mean smart contract based on Ethereum technology. Ethereum provide for us an platform on that we can create new one token and that transaction of token have been base on Ethereum system.
Reference: https://www.ethereum.org/token
Reference: https://www.ethereum.org/token
Hello wsxdrfv,
The reason your tokens are stored on the same address is due to the fact that to buy ERC20 tokens you need to send ETH to a certain token address. This token address works in such a way that a smart contract is immediately carried out and sends back the requested tokens to the address where you sent the initial payment from. This means that if you use the same ETH address for all your token purchases you will receive all those tokens on the same address.
Out of security reasons you could consider using multiple addresses for your different tokens but if you are very safe in storing your private keys (for example with a hardware wallet) there should be no problem keeping them all on one address. Please remember to keep some ETH on this address to pay for the GAS cost when using these tokens again.
To answer your second question you can use https://etherscan.io/ to check the balance of each token on your address. If you check your address in the blockexplorer you can choose to also view which tokens are stored on that address.
If you have any other questions regarding this topic please feel free to send us a DM.
With kind regards,
The Anycoin Direct team
The reason your tokens are stored on the same address is due to the fact that to buy ERC20 tokens you need to send ETH to a certain token address. This token address works in such a way that a smart contract is immediately carried out and sends back the requested tokens to the address where you sent the initial payment from. This means that if you use the same ETH address for all your token purchases you will receive all those tokens on the same address.
Out of security reasons you could consider using multiple addresses for your different tokens but if you are very safe in storing your private keys (for example with a hardware wallet) there should be no problem keeping them all on one address. Please remember to keep some ETH on this address to pay for the GAS cost when using these tokens again.
To answer your second question you can use https://etherscan.io/ to check the balance of each token on your address. If you check your address in the blockexplorer you can choose to also view which tokens are stored on that address.
If you have any other questions regarding this topic please feel free to send us a DM.
With kind regards,
The Anycoin Direct team
So I checked some exchange site's token's address of mine, I find that all erc20 token's address are all the same ethereum address.
How is this possible? Same address per each user, then how we know specific tokens are deposited?
When someone transfers a specific token to you... an entry is made via that Token's "Smart Contract" that essentially says "Transfer control of X.XX amount of YYY Token from AddressA to AddressB". So, the details are kept within the smart contract for the specific token. How is this possible? Same address per each user, then how we know specific tokens are deposited?
You could theoretically have a different ETH address for each token if you wanted, but then you'd need to have an ETH balance on each one to be able to move the tokens out. So, for convenience, most wallets just use the single ETH address as the deposit address for all ERC20 tokens.
So I checked some exchange site's token's address of mine, I find that all erc20 token's address are all the same ethereum address.
How is this possible? Same address per each user, then how we know specific tokens are deposited?
How is this possible? Same address per each user, then how we know specific tokens are deposited?
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