Ethereum is a decentralized application that supports a digital currency similar to a Bitcoin. Individuals can make purchases online, conduct trade, and sell to any place where it is accepted. But Ethereum does not stop just with currency. Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications.
However, there is one significant difference between Bitcoin and Ethereum. In the Ethereum blockchain, instead of mining for bitcoin, miners work to earn Ether, a type of crypto token that fuels the network. Also, Ether runs on a Smart Contract, which is a set of commands, set to execute once specific factors have been met. They serve as virtual agreements. These transactions do not necessarily involve trading money, although they can.
ERC20 tokens have several advantages that serve ViceCoin users in multiple ways. The unique customization aspect of ERC20 tokens allows it to be tailored and used for the following purposes:
Transactions made on the Ethereum blockchain are paid to the miners in ‘gas.’ This will help ViceCoin users to strategically program their token to auto-refill their gas for future transactions, when it drops down to a certain level. For instance, when there are high rate fluctuations, the network will automatically execute trades to recover gains or avoid losses.
Completely Automated Transactions:
One can assign a token’s value with another token or currency by creating a fund to buy or sell to maintain the balance automatically.
Also, ViceCoin offers a one-stop gateway for all privatized transactions, which ensures security from the start of the account creation. Specific two-factor authentication has been implemented for validating the user’s presence. With such ingenious features, ViceCoin is sure to help the users enjoy their vices anonymously.