What does L’île´s being ERC20 mean? Why ERC20? What is so great about L’île / ERC20?

L'île Passion 800x600rsz_coin_04

L’île is a ERC20 Token, built on ETHEREUM:

ERC20 is compatible with nearly everything in crypto and every time an Ethereum block is mined, Ethereum transactions are broadcast side-by-side with L’île transactions on the Ethereum network.

ETHEREUM Network

Ethereum is a decentralized network of computers with two basic functions: Blockchain that can record transactions and a virtual machine that can produce smart contracts.

Because of these two functions, Ethereum is able to support decentralized applications (DApps).

These DApps are built on the existing Ethereum blockchain, piggybacking off of its underlying technology. In return, Ethereum charges developers for the computing power in their network, which can only be paid in Ether, the only inter-platform currency.

We needed scalability, flexibility, usability and this exact technology to fuel The ISLAND, make it possible The TIME on BLOCKCHAIN, make it possible to create and own UNICORNS on UNICORNIA, for rentable, bought and sold via non-replicated tokenized moiety of the land of the MOON:

UNICORNIA
UNICORNIA

Depending on its purpose, DAPPs might create ERC-20 tokens to function as a currency, a share in the company, for points in a loyalty program, or even proof of ownership, say, of an amount of gold or the deed to a house.

L’île is built on ETHEREUM, as an ERC20 Token, also because

ERC20 is secure: Small blockchain-based coins are easily vulnerable to 51% miner attacks. For someone to run the same attack on an ERC20 token, they’d have to first attack and break through the Ethereum network.

ERC20 is fast. Ethereum block times are 15 seconds, so ERC20 block times are 15 seconds. It’s the same block what L’île is “on”.

As Ethereum developers innovate, their work is automatically ported to ERC20. When the Ethereum developers implement a scaling solution on Ethereum, L’île gets it as well as an ERC20 Token. This is because L’île rides on top of Ethereum.

L’île is transparent and its code is also open source.

For instance, EOS (EOS) with a market cap of around 5 Billion USD, TRON (TRX, currently with over a 1.5 Billion USD Market Cap), Aeternity (AE), Binance Coin (BNB, again over 1 Billion Market Cap), OmiseGo (OMG), 0x (ZRX), Basic Attention Token (BAT), Golem (GNT), Augur (REP), VeChain (VEN) are all ERC20 Tokens, like L’île (LILE).