Crypto Basics | What’s the difference between native coins and tokens?
Wrapped tokens map an asset 1:1 onto another chain or standard. For example, WBTC is an ERC-20 token on Ethereum that corresponds to Bitcoin.
Native coins are accounted for and issued by the consensus rules themselves, while token balances are recorded in the contract that issues them, with the rules determined by the contract’s code.
$ETH is Ethereum’s native coin. Any transfers of tokens on Ethereum require $ETH to pay for Gas. Current price: 2507.76.
Compare information from multiple sources before making a decision. Don’t rely on just one person’s opinion.
#ETH
For reference only. Use at your own risk.
Wrapped tokens map an asset 1:1 onto another chain or standard. For example, WBTC is an ERC-20 token on Ethereum that corresponds to Bitcoin.
Native coins are accounted for and issued by the consensus rules themselves, while token balances are recorded in the contract that issues them, with the rules determined by the contract’s code.
$ETH is Ethereum’s native coin. Any transfers of tokens on Ethereum require $ETH to pay for Gas. Current price: 2507.76.
Compare information from multiple sources before making a decision. Don’t rely on just one person’s opinion.
#ETH
For reference only. Use at your own risk.