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Why are eTokens implemented on Ethereum
eTokens live on the Ethereum blockchain. At the moment, the Ethereum blockchain and the surrounding ecosystem provides a suitable foundation due to its relative maturity as a smart contract platform and its broadly applicable and general feature set.
For the purpose of interoperability and standardization, the existence of the Ethereum Request for Comments (ERC) and the Ethereum Improvement Proposal (EIP) processes have facilitated several ecosystem-wide standards, enabling seamless interoperability between blockchain-based service providers.
An example of such a standard is ERC20, which defines a set of operations that must be supported by a conforming fungible token. Digital assets created by eToro and traded on eToroX conform to the standards for digital asset infrastructure popularized by the Ethereum community and are compatible with all adjacent infrastructure.
How are eTokens designed?
Immutability is an important functional characteristic of smart contracts as it provides a guarantee that a contract, once deployed, will behave exactly as prescribed by its code.
For further information, please see our Whitepaper.
Quantstamp as engaged by eToro Group to conduct an audit of the smart contract code which underpins the eTokens.
Read the Audit Summary here.