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ERC20, a cryptocurrency connects the Ethereum with altcoins.

Tue May 22, 2018 9:51 am

With the development of blockchain technology, ICO has become popular and everyone wants to blend in and make some money. More and more forked chains, tokens and dapps appear in the market. The platforms which skyrocket above all the coins are the ETH and EOS, and the most widely part are the tokens from ETH. They all comply with the ERC20 protocol. So what is the ERC20 protocol? Why do most altcoins follow it? Plz keep reading:

Tokens represent digital assets and have value, but not all conform to specific specifications. Currencies which based on the ERC20 are more easily interchangeable and can work the same on Dapps. The ERC20 standard makes the token more compatible and allows other features, including vote tokenization. In other words, these altcoins originate from the Ethereum blockchain, which is a combination of Ethereum and different from Ethereum.

Token holders have full control over the assets and compliance with ERC20 tokens can track how many tokens anyone has at any time. Based on the eth contract's child currency, it is easy to implement. The standardization brought by the ERC20 is very beneficial. It means that these assets can be used for different platforms and projects, otherwise they can only be used in specific situations.

And ERC20 defines six different functions for the benefit of other tokens in the Ethereum system. These are basic functional issues, including how to transmit tokens and how users access the token's data. The ERC20 also specifies two different signals. Each token has a signal that other tokens follow.

Having said so much, let's just look at how it is applied to the cryptocurrency.

1. Autonio

Autonio is a currency that appears for blockchain trade issues. It is also an Ethereum token based on the ERC20 protocol. It focuses on trade issues:

Q1: Because the blockchain is still in the initial stage, coupled with the chaos and inefficiency of the entire market, it is easily overlooked by most trade organizations. So, how to solve this problem?
A: To be compared with the other currencies which like Bitz (coin with no official site), Antonio's biggest advantage is that it is a decentralized artificial intelligence operating platform. In addition, this convenient platform also allows amateur traders and professional traders to trade at the same time, greatly solving the waste of human resources and increasing work efficiency. So this is why it is called a "convenient platform".

Q2: The energy of people is limited, but the blockchain works in 24 hours. In this new field which is full of competition, besides watching daily changes in market trends for 16 hours or spending a thousand dollars to buy a robot to help analysis. What better way does Autonio have to make everyone more profitable?
A: This problem is well solved. [ur=]Autonio[/url]'s monthly members only need $50 to enjoy the perfect experience brought by high computing power. ;)

2. SyncFab

The United States and China already account for more than one-third of the world's gross domestic product (GDP). Their dominance is expected to continue until 2050. The spark that ignited the prosperity of industrial manufacturing was the industrial revolution - a shift to a new manufacturing process. And SyncFab is a cryptocurrency that creates hardware through the blockchain to create supply chains.

SyncFab is a technology company headquartered which is built in 2013 at San Leandro, California. SyncFab is the first point-to-point industrial Internet of Things (IIoT) production blockchain for the hardware manufacturing supply chain. On the Syncfab platform, manufacturers can list their hardware processing capabilities, and then buyers can send part orders directly to them. A set of smart contracts, defined in digital form, ensures that both production standards and intellectual property rights also guarantee payment. 

Blockchain technology makes the supply chain more efficient and cost-effective. By eliminating intermediate steps such as brokers, outdated software and inefficient procurement processes, smart contracts will easily reduce costs. Syncfab can also connect smart machines to factories and allow innovators to connect effectively with manufacturers. It is much more convenient than the chaining out of bitcoin like CacheCoin.

MFG is an ERC20 token used to reward buyers, manufacturers, suppliers and logistics service providers, and can be traded on the Syncfab platform. Through smart contracts, MFG will be used to motivate manufacturers or buyers who place orders using SyncFab.

3. Bit-20

To be honest, the connection between Bit20 and ERC20 is not close. The only similarity between them is "20". But precisely because of this, we can make a comparison.

Bit20 is an index fund created based on Bitshare. It can be used in Bitshare decentralized Exchange. Bit20 ranks the top 20 cryptocurrencies by market capitalization. If one of them falls outside of 20, then another cryptocurrency will replace it. It will always "contain" the most successful currency and give up the rest. If all cryptocurrencies go down, Bit20 will do the same. If the value of all cryptocurrencies is growing, then Bit20 will catch the best.

Although not very comparable to ERC20, Bit20 is definitely a currency you are worth investing in. The only problem is that its price is too expensive. :D

In this era of rapid development, hesitation cannot solve any problems. The only way is to do it and work hard to find a way to achieve results. If you have good ideas, then go ahead and do it. The ERC20 is definitely your best choice!

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