I’m fairly new to crypto and many are promoting the various ERC-20 tokens out there
My question are they all using the same tech and if they are the same just different companies what new innovations do they bring?
Surely in this case people are just buying into the business plan of the company behind it, I.e Beam or Render and how they use this same tech?
Yes, they are. They're all using ERC20 for tokenization purposes. But, they were utilizing ERC20 tokens for various purposes. These include governance, staking, and more. Some companies were innovating. But, many just imitated each other.
In the case of Beam and Render, they were using different tech. Render used ERC20 for their token. Beam is building in their own blockchain. They were not using the same tech.
Most of the time they are really just that copycats or really just that making use of the same chain and thats why i do really prefer on investing into L1's rather than on going with L2's or 3's but of course there would really be having that corresponding difference on which other features couldnt really be seen on L1's and this what makes investors would really be trying out to invest because of such features but of course it will really be that
depending on someones choice and risks taking. As for those projects mentioned above then i havent searched up their differences or those precise spots on where they are really that not the same.
This is where it will really be relevant that you would be making out some research or in depth ones basing up into the project that you are really that eyeing on. Just be careful with tons of copy cats out there
and even having those kind of unrealistic roadmaps or project utility that being boast out. You could be able to point out on which projects are really that able to possibly reach out their goals
or targets when it comes to utility and not really just that making some promises and as if they could really be able to make it happen.