Is ADA a token built on the ERC20 protocol?
Dion GainesMay 01, 2022 · 3 years ago3 answers
Can anyone tell me if ADA, the native token of Cardano, is built on the ERC20 protocol? I'm curious to know the underlying technology behind ADA and its compatibility with Ethereum.
3 answers
- May 01, 2022 · 3 years agoNo, ADA is not built on the ERC20 protocol. ADA is the native token of the Cardano blockchain, which has its own unique protocol called Ouroboros. It is not compatible with the Ethereum network.
- May 01, 2022 · 3 years agoNope, ADA is not an ERC20 token. It operates on its own protocol, which is specifically designed for the Cardano blockchain. So, you won't be able to use ADA on Ethereum-based platforms or wallets.
- May 01, 2022 · 3 years agoNo, ADA is not an ERC20 token. It is built on the Cardano blockchain, which uses a different protocol called Ouroboros. ADA has its own ecosystem and is not directly compatible with Ethereum or ERC20 tokens.
Related Tags
Hot Questions
- 88
How can I protect my digital assets from hackers?
- 74
How can I buy Bitcoin with a credit card?
- 60
How does cryptocurrency affect my tax return?
- 50
What are the tax implications of using cryptocurrency?
- 19
How can I minimize my tax liability when dealing with cryptocurrencies?
- 18
What is the future of blockchain technology?
- 12
What are the best practices for reporting cryptocurrency on my taxes?
- 8
What are the best digital currencies to invest in right now?