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.
asriloni, thanks for taking the time to outline both the purpose and usage of ERC-20, tokens to the ops and also pointing out the limitations of some of the ERC-20 who are nothing but just imitation, because the rate of fake and scam project that based on the ERC-20 tokenization network is quit huge and every newbie need to be enlighten about them before the god on investing in some of those shitcoins and thinking they are investing in some worthwhile projects.
Cryptocurrency space is widening and alot is happening aside from the fact that, some projects make remarkable success and at that making the market to become very popular, others are just in the industry for what they can grab from low knowledge investors and for sure staying away from ERC-20 tokens as a newbie is most likely to be the best decision in other to safeguard your capital.