One of the largest cryptocurrency brokers worldwide, Coinbase, announces ERC-20 tokens support throughout their integrated Ethereum (ETH) wallets. A feature many believe it was mandatory to have since day 0 of the introduction of the Ethereum protocol.
According to the official announcement delivered on March 26, via Coinbase’s Medium account, the California-based company is planning to introduce tokens underlying behind the Ethereum ERC-20 technical standard in the coming months. Though Coinbase was not specific if any ERC-20 token could be implemented into their platform via the Ethereum (ETH) wallets found pre-installed in each user’s account, or there will be a selective group of specific ERC-20 tokens that would be allowed into the digital platform, we can be pretty sure that this is one of these “marketing tricks” where community members will be highly affected by the news, generating exciting concepts about their favorite coin being supported by Coinbase in the near future, without any legitimate basis.
ERC-20 is an Ethereum token technical standard used for smart contracts on the Ethereum blockchain. Developed in 2015, ERC-20 defines a common list of rules that an Ethereum-based token has to implement, giving developers the ability to program how new tokens will function within the Ethereum ecosystem.
This token protocol became popular with crowdfunding companies working on initial coin offering (ICO) cases. For example, many altcoins and other blockchain-based projects like Waltonchain (WTC), OmiseGO (OMG), EOS, Tron (TRX), VeChain (VEN), and even Binance‘s native currency BNB among literally tens of hundreds of other tokens are using Ethereum’s network to operate.
Smart contracts allow these individual token systems to adopt an area of blocks inside the Ethereum network and use it strictly under their own newly developed rules that may be completely different than those of Ethereum. If we could look at the whole Ethereum chain as a whole it would be #1 according to CoinMarketCap‘s list based on market capitalization, due to the fact that almost half of the altcoins and other blockchain-based projects are literally leeching from Ethereum in order to exist. Read more from theindependentrepublic.com…
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