What are the differences between ERC-20 tokens and native tokens such as BTC ETH etc.?
The main difference between ERC-20 tokens and native tokens such as Bitcoin (BTC) and Ethereum (ETH) is that ERC-20 tokens are built on the Ethereum blockchain, while native tokens are built on their own blockchains.
ERC-20 tokens are digital assets that are created and stored on the Ethereum blockchain. They use a standard set of rules to ensure compatibility with other ERC-20 tokens, allowing them to be easily exchanged for one another. These tokens can represent anything from digital currencies to loyalty points or even physical assets like gold or real estate.
Native tokens such as BTC and ETH, on the other hand, are digital assets that are created and stored on their own blockchains. They do not use a standard set of rules like ERC-20 tokens do, so they cannot be exchanged for one another directly. Instead, they must be exchanged through a third party platform such as an exchange or wallet service.
In addition, native tokens such as BTC and ETH have their own unique features that make them different from ERC-20 tokens. For example, Bitcoin is designed to be a decentralized currency while Ethereum is designed to facilitate smart contracts and decentralized applications (dApps). As such, each native token has its own unique purpose and use case.
