![]() ![]() The Ethereum blockchain is then responsible for handling transactions and keeping track of the balance of token holders – this procedure is not required for other digital coins.ĮRC-20 tokens are sent using Ethereum Gas. The difference between an ERC-20 token and Bitcoin for example, is that instead of running on their own blockchain, ERC-20 tokens are issued on the Ethereum network.Īnother difference between the ERC-20 token and Bitcoin is the need for tokens to write a piece of code to be stored on the Ethereum blockchain. ![]() How Does an ERC-20 Token Work?ĮRC-20 tokens are blockchain-based assets that have value and work by being sent and received on the blockchain. This ultimately ensures that all tokens perform in any place within the Ethereum network.ĮRC-20 stands for “Ethereum request for comment” and is part of a collection of several other Ethereum standards, such as the ERC-721, which focuses on non-fungible tokens (NFTs) and ERC-884, which allows companies to use blockchain to maintain share registries (specifically in Delaware, but that’s another story). These functions include the method in which tokens are transferred and the way users access data for a particular token. The ERC-20 standard outlines six different functions for the benefit of other tokens within the Ethereum network. Essentially, Ethereum tokens are smart contracts that function on the Ethereum blockchain. In the Ethereum network, tokens represent a diverse range of digital assets, such as vouchers, IOUs (debt owed), or even real-world, tangible objects. How Do You Begin Trading and Using Tokens? What Are ERC-20 Tokens?Ĭreated by Fabian Vogelsteller in 2015, the ERC-20 token is the technical standard used for all smart contracts on the Ethereum blockchain for token implementation.Įthereum has the second-largest market capitalization to Bitcoin, but it is used in a different way - the Ethereum blockchain is based on the use of tokens, which can be bought, sold or traded. How Can You Make Sense of Real Use Cases for ERC-20 Tokens? What Does This Have to do With the Decentralized Finance (DeFi) Industry? If you select 'Binance Chain', 'Binance Smart Chain' or other networks, you will lose access to the tokens.What Are ERC-20 Tokens? Find Out Now as the Decentralized Finance Industry Takes Offīeginners guide to getting started with ERC-20 Tokens | by Ethplorer and Coinmarketcap. If you want to send Ethereum-based tokens from Binance to Argent, please ensure you select Ethereum as the 'Transfer Network'. Withdrawing tokens from Binance to send to Argent We'd recommend conducting your own research on which approach is best for you. ![]() There are ways to get exposure to Bitcoin through Ethereum, for example WBTC. No, we do not support it directly, as it is built on a non-Ethereum blockchain. If they don't match, your token is different from the token that Argent accepts and might be lost if sent to Argent. ![]() You can find the 0x address in the token page: Please verify that the 0x address of the token on Etherscan and the 0x address of the token you are about to send are the same. If you're in any doubt, please follow read the below on how to verify the token you're sending, or email How to verify the exact token you're sending This can happen if they started on Ethereum but since migrated to another blockchain. Theta, EWT, VETĬonfusingly, some tokens have the same name but are on different blockchains. Be aware of tokens with the same name on different blockchains, e.g. Please do not send tokens from other blockchains because they will be lost if you do. This does though mean that we don't support tokens built on other blockchains. Please note: Non-Ethereum tokens sent to Argent will be lostĪrgent is built on Ethereum because of the massive range of use cases it enables. Only ERC-777 tokens that are fully backwards compatible with ERC-20 are supported by Argent. ERC-777 is quite a new standard and not widely used.You can hold all Ethereum ERC-20, ERC-721, ERC-1155 tokens in your wallet. ![]()
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