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When reading about Ethereum-based tokens I've observed two types of implementations:

  1. The token rides on top of the actual Ethereum blockchain (the main Ethereum network). Example would be Golem (GNT).

or

  1. The token rides on it's on Ethereum-based blockchain. Example would be...? Are there examples?

Is the term "Ethereum-based token" assumed to mean #1 (that it rides on top of the actual Ethereum blockchain)?

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Best of my knowledge both are same, token are created during the phase of ico in any project. The project could be anything like making an decentralized gambling plateform like DAO Casino or developing an entire new blockchain like EOS.

  • They aren't the same - EOS for example only used the Ethereum blockchain to fund; it operates on it's own chain. – Howiecamp May 1 '18 at 20:54
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    I would argue that from an ERC20 token perspective, they are exactly the same. – Zack McGinnis May 1 '18 at 21:27
  • Yeah, they're basically the same. Here's where the EOS token and the Golem token are stored on the Ethereum blockchain. – sfmiller940 May 1 '18 at 21:30
  • @sfmiller940 - My understanding was that only the ICO would be on the Ethereum blockchain - from steemit.com/eos/@trogdor/the-eos-ico-for-dummies: "The EOS token will...be sold on the Ethereum (ETH) blockchain." – Howiecamp May 1 '18 at 23:20
  • @Zack - Agree on ERC 20, I'm just focusing on there the tokens live. – Howiecamp May 1 '18 at 23:22
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In both of your examples, the tokens are the same in their specs (ERC20) and where they live (Ethereum blockchain).

What the tokens do, and how they are utilized, is another story. They could be used within dApps on the Ethereum blockchain. Or, in the case of EOS, they can be exchanged for EOS currency/tokens when their mainnet launches. In this case, the EOS ERC20 token is nothing more than a fundraising token. The EOS blockchain will not directly implement the EOS ERC20 token currently on Ethereum.

  • Agree they both implement ERC20. I'm asking about where the tokens live- on Ethereum blockchain vs their own. I thought only the EOS ICO will be on the Ethereum blockchain- from steemit.com/eos/@trogdor/the-eos-ico-for-dummies "The EOS token will...be sold on the Ethereum...blockchain." and from cryptobriefing.com/what-is-eos-introduction-to-the-eos-token "EOS helps fix the scaling problem in Ethereum by providing an alternative network..." I should have worded my question more generically rather than mentioning specific tokens that I could be wrong about. I'll edit it. – Howiecamp May 1 '18 at 23:20

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