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Not all cryptocurrencies have their own blockchains. Instead they run on top of other platforms like ERC20 tokens run on top of Ethereum. This video explains what these tokens are and why ERC20 was created.
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What Are Blockchains, ERC20 tokens – Simply Explained.
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ERC20 tokens – Simply Explained, Watch most shared full videos about What Are Blockchains.
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The reasoning behind this follows: Since countries can’t gather sales tax on Web transactions at their borders, the only method they can gather it (other than a self-assessment system) is with an online sales tax. Further, it is claimed that services in the European Union suffer a major competitive disadvantage because they need to gather Value Added Tax (BARREL) but others don’t.
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