What is Ethereum Token?- A Step-by-Step Guide For Beginners
WHAT IS ETHEREUM
A Step-by-Step Guide For Beginners
Are you an entrepreneur planning to issue Ethereum-based tokens?
You might be looking around to find what ERC standards mean and
how they important to you. This beginner’s guide should help to
understand What is Ethereum token & how they are different than
Before that just clarify yourself What is
Cryptocurrency Coin & Token?
"Coins are stand-alone cryptocurrencies based
on their own blockchain. Tokens are built and
hosted on existing or another blockchains"
Coin basically refers to cryptocurrency
that has it own blockchain and works
separately of another platform at the
same time token refers to
cryptocurrency that operates and
based its existence on another
platform for example Ethereum.
WHAT IS ETHERUM?
Ethereum can actually make it simpler to cryptocurrencies in general. Yes,
Ethereum is a decentralized platform upon which smart contracts can be
programmed and executed. It is the first base that supports millions of
decentralized applications (dApps).
Whenever a new application for blockchain technology and smart contracts is
developed on top of Ethereum, a new Ethereum- based token can be created. The
clarity aspect of this process is that Ethereum has set standards for
tokenization. Various types of decentralized applications will be tokenized
according to different standards, build upon on what the application is meant to
What are ERC standards?
An Ethereum Request for Comments (ERC) - It
is a standard document that smart contract
programmers using the Ethereum blockchain
platform to write. They explain the rules in
these documents that Ethereum-based
tokens must obey with.
* ERC 20
* ERC 165
* ERC 721
* ERC 223
* ERC 621
* ERC 777
* ERC 827
* ERC 884
* ERC 865
While there are many standards like:
If you know about Ethereum, you might have heard about “ERC20.” It
is nearly related to the ICOs that keeps happening overall the year.
Startups, especially are taking advantage of the ERC20 token. Many
startups are also successful in raising millions of dollars through
the token sale.
Read up here - What is ETHRERUM TOKEN? A Startup Guide for
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