What is ERC20 (What is Quadratic Trinomial)

What is ERC20 Editor’s Note: This article is from Ethereum enthusiasts (ID: ethfans), written by EvanVanNess, translated and proofread by Min Min and Ajian, authorized by Odaily Star Daily.

In the field of blockchain, ERC20 is a completely decentralized protocol that allows anyone to create and manage their own assets/data through an open, trustless network. This new financial tool based on smart contracts is called “DeFi” and is currently the only permissionless, non-custodial, interoperable, secure, and unrestricted protocol. It will become an open source project and allow all users to participate in the early stages of this project.

Due to the unique design advantages and many use cases of the ERC-20 standard, the system also provides a range of additional features:

1. Low transaction fees. As more and more developers start using the platform, users can easily trade or transfer assets.

2. Cross-chain bridges. With the increasing use of various cryptocurrencies in the network, this means that these cryptographic tokens may generate higher prices, thereby reducing transaction costs.

3. Cross-chain liquidity pool. Due to the unique characteristics of the cross-chain protocol, it can not only provide the same high throughput as the mainnet, but also achieve communication between multiple mainstream blockchain protocols at the same time.

4. Privacy protection. When you want to leverage these new tools, you first need to understand how to apply them to your business scenario, rather than building your own unique solutions like existing products.

5. Privacy protection. Since most dApps exist on a single server and cannot access their codebase, it is possible for someone to build a complete user interface from scratch to handle transactions without sacrificing personal freedom. However, if you want to bring a service into the Web3.0 world, you cannot ignore its risks.

What is Quadratic Trinomial

What is Quadratic Trinomial? What is the concept and application of Quadratic Trinomial, also known as “quadratic” or “second order (triple)”. It refers to a system that is considered secure but is not actually secure.

If a user makes a transaction without providing any protection, other accounts in the network can also be affected. Therefore, when a user sends a request to the network, a second account can be used to receive the request information, making it as vulnerable as other services, without the need for additional measures such as paying extra fees or supporting funds to ensure data security, thereby avoiding losses caused by hacker attacks. Additionally, to prevent the risk of double spending, this mechanism also exists in encrypted assets, such as Bitcoin. Why remember Quadratic Trinomial? It is a new system created based on a new and evolving protocol framework, aiming to prepare for the stability and scalability of existing systems and reduce the impact on the external environment.