New tokens include two eToro stablecoins
eToroX, the blockchain subsidiary of global investment platform eToro, today announces that it will add 120 ERC-20 tokens to its multi-crypto on-chain wallet.
Doron Rosenblum, CEO of eToroX , comments: “ Adding 120 ERC-20 tokens to the eToro wallet is further proof of our belief that one day all investable assets will be tokenized. One of the main barriers to mass adoption of cryptoassets is the lack of access. erc20 token creator The availability of these first 5 tokens allows more people to transfer them and hold them in a secure and regulated wallet. The next step will be to add more ERC-20 tokens to our exchange, which we plan to do in a near future “.
ERC-20 tokens are used only on the Ethereum blockchain network and must follow a set of rules before they can be shared, exchanged for other cryptoassets, or transferred to a crypto wallet.
The eToro wallet is a mobile application available through Google Play and the Apple App Store. Provides an easy-to-use client interface and enhanced security. Multi-signature security* gives users the ability to view their transactions and balances on the blockchain without fear of losing their private key**.
The wallet is developed and managed by eToroX, a subsidiary of the eToro Group. eToroX is one of the first companies certified as a regulated provider of Distributed Ledger Technology (DLT) by the Gibraltar Financial Services Commission (GFSC).
* Multiple signature: refers to requiring more than one key to authorize a bitcoin transaction.
** Private key: a secret key, which combined with an algorithm allows you to encrypt or decrypt the “content”
ERC-20 tokens must comply with 6 mandatory rules and have the option to follow all three.
About eToro
eToro was founded in 2007 with the vision of opening up global markets for everyone to trade and invest easily and transparently. The eToro group consists of the eToro platform, our multi-asset trading and investment hub, and eToroX, which manages our crypto exchange and portfolio.
The eToro platform allows people to invest in the assets they want, from stocks and commodities to cryptoassets. We are a global community of more than ten million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform, erc20 token generator users can buy, hold and sell assets, monitor their portfolio in real time and trade whenever they want.
As technology has evolved, so has our business. In 2018, we created eToroX, our tokenized asset subsidiary. eToroX provides the infrastructure, in the form of a crypto wallet and upcoming exchange, that supports our commitment to facilitating the evolution of token assets. We believe that leveraging blockchain technology will allow us to become the first truly global service provider that enables everyone to trade, invest, and save.
eToroX is a subsidiary of the eToro Group. The business was formed in 2018 to provide the infrastructure to support the eToro Group’s commitment to facilitating the evolution of tokenized assets. It provides the newly launched eToro wallet and executes the trade.
The Distributed Ledger Technology (DLT) provider license was granted by the Gibraltar Financial Services Commission to eToroX in December 2018 (license number FSC1333B). eToroX is incorporated in Gibraltar under company number 116348 and its registered office is at 57/63 Line Wall Road, Gibraltar.
The fact that ERC-20 tokens are a standardized interface brings great benefits to the entire Ethereum ecosystem. Among these advantages we can highlight:
This facilitates the work of developers by unifying work criteria within the Ethereum blockchain.
Reduces the complexity of token systems.
This improves the interoperability of the systems, since standardization requires the programmatic horizontality of the software.
This is because the OCIs have done it to finance projects and use them as a basis for the work within them.
Elimination of risk factors that can break or falsify smart contracts.
Reduce incompatibilities and increase interoperability resources.
Ethereum's protocol was not explicitly designed to create and record transfers of its own cryptocurrencies.
However, such a framework is broad enough that its developers have considerable flexibility in the design and function of tokens.
These rules make it possible for developers to create new technologies with a smaller margin of error, by being aware of the necessary conditions for them to be integrated and coexist on the network.To fully comply with the ERC-20 standards, the developer must incorporate a specific set of functions in his smart contract that, at a high level, will allow him to perform the following actions:Get the total supply of tokens Get account balanceTransfer the tokenApprove spending the tokenThe development of ERC20 enables seamless interaction with other smart contracts and decentralized applications on the Ethereum blockchain.
There are certain tokens that fulfill only some of the standard functions, thus being partially compatible with ERC-20 and that depending on the functions that it does not fulfill, it can interact in the blockchain.The creation of the ERC-20 token as a standard has brought numerous benefits to the ecosystem and to the development of new technologies, optimizing its incorporation and compatibility with the rest of the applications.Some of the benefits are:The unit of technology and a standard protocol, facilitating the work of developers.Less complexity in understanding each type of tokens implemented, since all will be based on the same principles of functionality.Greater liquidity of ERC-20 tokens, as they are used in most ICOs and as a work base for projects.Lower risk of breaking contracts, as there are no impediments or incompatibilities.Do ERC-20 tokens influence the value of Ethereum?Not at the beginning.
The value of each particular token depends on a variety of factors described in the application code , such as the total supply of tokens, as well as external factors such as the demand for it in the market or speculation about its value.
So both a team with a revolutionary project and a scammer looking to fool crypto investors in search of easy money can perfectly create their own.This is possible because both developments of Ethereum and the ERC20 standard are open source, we are all free to use them.
