07-16-2020, 11:19 PM
Does building on the Etherum blockchain equate with demand for ETH token?
<!-- SC_OFF --><div class="md"><p>I've been investing in cryptocurrency for about 3 years and bought my first eth back in 2017, but I'll be honest I'm pretty clueless when it comes to the more technical sides of things. I know it's probably wise to fully understand what you're investing in but I don't let that bother me too much. I don't need to know how the internet works to be able to use it and see how revolutionary it is. The decentralised aspect of cryptocurrency is what really excites me- specifically, being in complete control of my own finances- and I've only invested what I can afford to lose so if I make a wrong call I can live with that.</p> <p>Anyway, from what I've seen it seems clear that more and more crypto projects are building on the etherum blockchain, but what I'd really like to know is that while this is clearly a sign of success for etherum, does it necessarily mean that there is more demand for the eth token? In other words: <strong>If someone wants to create a token on the Etherum blockchain, do they need to buy eth in order to do that? If so, how much? If not, then where does the value of eth lie?</strong></p> <p>I hope my question makes sense? It may be a very silly question, but bear in mind there are probably numerous people like me who are interested in cryptocurrencies without really fully understanding how exactly it all works. This is why I chose the name Crypto Grandma- I'm interested in crypto but I might need it being explained to me like you'd explain it to your granny. So if anyone would be kind enough to do so, it would be greatly appreciated! </p> <p>Cheers.</p> </div><!-- SC_ON --> Kind Regards R
<!-- SC_OFF --><div class="md"><p>I've been investing in cryptocurrency for about 3 years and bought my first eth back in 2017, but I'll be honest I'm pretty clueless when it comes to the more technical sides of things. I know it's probably wise to fully understand what you're investing in but I don't let that bother me too much. I don't need to know how the internet works to be able to use it and see how revolutionary it is. The decentralised aspect of cryptocurrency is what really excites me- specifically, being in complete control of my own finances- and I've only invested what I can afford to lose so if I make a wrong call I can live with that.</p> <p>Anyway, from what I've seen it seems clear that more and more crypto projects are building on the etherum blockchain, but what I'd really like to know is that while this is clearly a sign of success for etherum, does it necessarily mean that there is more demand for the eth token? In other words: <strong>If someone wants to create a token on the Etherum blockchain, do they need to buy eth in order to do that? If so, how much? If not, then where does the value of eth lie?</strong></p> <p>I hope my question makes sense? It may be a very silly question, but bear in mind there are probably numerous people like me who are interested in cryptocurrencies without really fully understanding how exactly it all works. This is why I chose the name Crypto Grandma- I'm interested in crypto but I might need it being explained to me like you'd explain it to your granny. So if anyone would be kind enough to do so, it would be greatly appreciated! </p> <p>Cheers.</p> </div><!-- SC_ON --> Kind Regards R