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What does the token type ERC mean (how many tokens are there)

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What does the token type ERC mean? According to official news, the \”Blockchain

What does the token type ERC mean (how many tokens are there)

What does the token type ERC mean? According to official news, the “Blockchain Technology Application and Implementation” summit was held in Shenzhen recently. The summit released the “ERC (Smart Contract) Token Classification Standard”.

Among them, projects such as Bitcoin refer to it as a digital currency project based on public chains. According to public information, the project was jointly established by the Computer Science Department of Harvard University in the United States and the National University of Singapore. Its aim is to solve many problems existing in the cryptocurrency industry, such as high transaction costs, privacy leaks, and user data theft. At the same time, the project has introduced a new feature called eCash, which ensures the security and scalability of transactions through blockchain technology. In addition, the project’s native token is also called ETC, which is a digital asset used for mining. Currently, the whitepaper of the project has been fully released.

How many types of tokens are there?

Tokens are the foundation of blockchain technology, ensuring the authenticity of data during transaction processes through a trusted and decentralized accounting method. Currently, there are mainly two types of tokens in the market: encrypted digital tokens and Distributed Ledger Technology (DLT) tokens. In this article, we will introduce two types of tokens: one is an encrypted token created for public key encryption, and the other is non-fungible tokens or other virtual currencies such as Bitcoin and other encrypted assets. The difference between these two types is that they can be used simultaneously and have all the properties that are indivisible and difficult to modify – for example, private keys and public keys – these properties correspond to them and can be viewed by anyone.

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