Does Litecoin use ERC20?

Is Litecoin a ERC token?

Since its launch in 2015, Ethereum has become one of the driving forces behind the growth of cryptocurrency. Initial coin offerings (ICOs) have raised billions of dollars in funding for crypto projects from all around the world, and most of these ICOs are based on the Ethereum platform.

What is Litecoin backed by?

Scrypt Proof-of-Work Algorithm Bitcoin, Litecoin, and many other cryptocurrencies use the proof-of-work (PoW) algorithm in order to secure their networks.

What blockchain does Litecoin use?

Bitcoin uses the SHA-256 algorithm, whereas Litecoin uses a newer algorithm called scrypt. Litecoin developers chose scrypt initially so that LTC mining wouldn't be dominated by ASIC-based miners, thus allowing GPU and CPU-based miners to compete.

Is XRP an ERC20?

XRP Token (XRP) ERC20 Token in Binance Smart Chain Mainnet. Token is implemented as ERC20 smart contract with address 0x1d2f0da169ceb9fc7b3144628db156f3f6c60dbe .

Is Coinbase ERC-20 Ethereum?

You will need ETH in your Coinbase Wallet account in order to pay a miner's fee when sending this cryptocurrency. This is because ERC-20 tokens are issued on the Ethereum blockchain and transactions on the Ethereum network, such as sending ERC-20 tokens, require Ether.

What is Binance peg XRP?

'Peg' means to tie the value of one crypto to another. The main purpose of these tokens is to allow trading of the assets in DEXes that is not currently possible due to their different blockchains. … Trust Wallet supports Bitcoin (BTC) and Ripple (XRP), and several other blockchains.

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