So I am trying to understand ethereum better. If someone could help me by correcting me where I am wrong here.
As I understand ERC-20 is the ETH token. When you buy ETH on Binance or Uphold or wherver, you are buying ERC-20. Correct?
So then other tokens are minted like BAT or Enjin. What is the relation of these minted tokens to ERC-20? Other than ERC-20 just being the protocol? More speicifcally, if BAT or Enjin tokens gain value and popularity, does this somehow increase the value of the original ERC-20 token?
Also I understand minted tokens all run on the same Ethereum Network as ERC-20. So this means the Ethereum Network "miners" are also validating the transactions for minted tokens. If this is the case, do miners get a small payout of whatever token transaction they helped to validate? Or do the miners get some payout converted back to ERC-20? What I am trying to understand is, what is the monetary incentive for miners to validate minted token transaction? Like if I mint a new token right now, and that token is literally worth $0, why would miners start validating the transactions?