What Is ERC20?

ERC20 is the technical standard used for smart contracts on the Ethereum blockchain to implement tokens. ERC-20 provides basic rules that tokens must adhere to, facilitating interoperability between different tokens on Ethereum .

This standard covers methods for token transfer, how token transactions can be accessed and obtained, as well as the total token supply. ERC20 is the main standard for token creation on Ethereum, enabling the development of a broad and diverse token ecosystem, including tokens for ICO projects, utility tokens, or even digital asset representation tokens.

Difference Between ERC-20 and BRC-20

Although ERC20 and BRC20 are both token standards, they operate on different blockchains. ERC20 is the standard on Ethereum, while BRC20 applies on Binance Smart Chain (BSC). BRC20 is similar to ERC20 in terms of functionality, but operates on the Binance Smart Chain environment which offers lower transaction fees and faster transaction speeds compared to Ethereum.

These differences reflect the characteristics of each blockchain, where Ethereum is known for its extensive and decentralized ecosystem, while BSC offers cost efficiency and speed as its competitive advantages.

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