What is the use of Ethereum private chains (how to obtain private chain tokens on Ethereum)
What is the use of Ethereum private chains? Ethereum private chains, also known
What is the use of Ethereum private chains? Ethereum private chains, also known as decentralized applications (Decentralized Apps) on the Ethereum public chain, are distributed networks developed and deployed using Ethereum. Users can create, manage, and transfer tokens or assets on this blockchain without the need for complex processes such as registering accounts. This method does not require any intermediary institutions to access their cryptocurrency wallets or exchanges.
What is the role of private chains? Ethereum private chains are implemented through smart contracts, which allow users to store their digital assets on a public platform instead of being entrusted and owned by third parties. These tokens can be transferred to others without relying on intermediaries. Therefore, users can keep their private keys on their own devices or share them with others. Private systems typically require users to provide personal information and complete operations within a certain time period, and private data is not publicly transparent. Private systems also need to retain certain transaction history, sensitive information, and ownership status for customers.
How to obtain private chain tokens on Ethereum
Editor’s note: This article is from BlockBeats, author: 0x22, authorized reprint from Odaily Planet Daily.
Obtaining private chain tokens on Ethereum is a very easy task. We can exchange and purchase tokens through decentralized exchanges (DEX) or some other platforms without the need for wallets or third parties to complete the process.
There are currently two options available: one is the ETH-DAI pool of the UniSwapV2 DEX protocol on Ethereum, the other is decentralized trading pairs listed on other exchanges, and another is providing liquidity through UniSwap to receive LP rewards, such as Balancer, Compound, etc. Most of these protocols are based on ERC20 tokens issued on Ethereum, such as Uniswap and Balancer. Both of these platforms support users depositing assets on Ethereum as stablecoins (such as DAI, USDC, PAX). If you want to obtain these assets, you need an Ethereum address, and this address will receive your private key and corresponding cryptocurrency.
If you want to participate in DeFi projects such as Uniswap, Curve, and Balancer, you can send the following link to your contract address:
https://uniswap.com/token-exchange/
I think the most direct way is to send funds to Ethereum.
Because we cannot see any smart contracts in the Ethereum network. So please note that there is a small problem here: if you don’t know how to create your own tokens. Is this a big problem? Of course not! But the answer to this question might be that you may want to have a private chain token (UNI) on the Ethereum blockchain.
To become a qualified Ethereum holder, you only need one wallet to access the liquidity and token supply of UNI. Then add another wallet.
That’s why we recommend using the UNI staking pool, because it does not allow users to use their tokens for any purpose-unless they agree to short UniSwap; or it is one of the best ways for platforms like Curve and Uniswap to extract liquidity from your trading account.
This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/crypto/24099.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
ETH2 Beacon Chain Pledge Deposits Increase Exponentially
It is reported that the on-chain data shows that the current pledge deposit of the contract address of the beacon chain ETH2 exceeds 16842039 ETHs, with an inc…
-
The Growth of MetaMask Swap: A Revolution in DEX Aggregation
According to reports, according to data from Dune Analytics, the number of user addresses in Metamask\’s built-in DEX aggregator Metamask Swap has exceeded 1.6 million, and a total
-
Strengthening Regulation in the NFT Field: Insights from a Recent Survey
On April 7th, according to a recent survey by CoinGecko, approximately 48% of investors hope to strengthen regulation in the NFT field, with three-quarters of surveyed users indica
-
CME’s Federal Reserve Observation: Interest Rate Predictions
According to CME’s “Federal Reserve Observation”, the probability of the Federal Reserve maintaining interest rates unchanged in March is 34.3%, and the probability of raising interest rates by 25 basis points to the range of 4.75% to 5.00% is 65.7%; The probability of maintaining interest rates unchanged by May is 26.1%, the probability of a cumulative interest rate increase of 25 basis points is 58.2%, and the probability of a cumulative interest rate increase of 50 basis points is 15.8%. The probability of the Federal Reserve raising interest rates by 25 basis points in March is 65.7% Analysis based on this information:The Federal Reserve is a crucial part of the US economy, and their decisions can have significant impacts on the financial market. CME’s “Federal Reserve Observation” provides insight into the probability of the Federal Reserve taking different actions regarding interest rates. According to the report, there is a 34.3% probability of the Federal Reserve maintaining interest rates unchanged in…
-
What does “show币” mean (what is “show”)?
\”Show币\” refers to Showcoin according to official sources. Showcoin is a token th
-
MicroStrategy co founder integrates Bitcoin Lightning network addresses into his company email
According to reports, Michael Saylor, co-founder and executive chairman of MicroStrategy, announced the integration of the Bitcoin Lightning network address into his company email
-
The Sui Foundation Announces the Launch of the Sui Ambassador Program
According to reports, the Sui Foundation has announced the launch of the Sui Ambassador Program, providing outstanding community members with the opportunity to receive foundation
-
Federal Reserve to Raise Interest Rates Amidst Economic Concerns
On May 1st, Nick Timiraos, the \”Federal Reserve mouthpiece,\” wrote that the Federal Reserve will raise interest rates by another 25 basis points this week, while discussing whether
-
US Stock Market: A Mixed Finish Amidst Tech Stocks’ Rise
According to reports, the three major US stock indices ended mixed, with the Dow down 0.68%, the Nasdaq up 0.47%, the S&P 500 down 0.39%, and most popular technology stocks rising.
-
Nexus Mutual Launches V2 Version of DeFi Insurance Project
According to reports, according to official Twitter news, the DeFi insurance project Nexus Mutual announced that its V2 version has been launched on the main Ethereum network. The agreement has been transformed into a risk management layer where experts can establish businesses, including: creating capital, launching a pledge pool, managing and pricing risks, developing new products, and so on. V2 aims to achieve seamless integration and product coverage with native DeFi and third-party user interfaces. DeFi insurance project Nexus Mutual V2 has been launched on the main Ethereum network Analysis based on this information:Nexus Mutual, a DeFi insurance project announced via its official Twitter account that it has launched the V2 version on the main Ethereum network. This move marks a step forward as Nexus Mutual continues to expand its coverage and integrate more products into its platform. The V2 version of Nexus Mutual’s insurance project takes a different approach to risk management. It transforms the agreement into a risk…