Networks and tokens

Smart contract

A program stored on a blockchain that runs exactly as written when called; tokens such as USDT and USDC are smart contracts that keep a ledger of balances.

A smart contract is code deployed to a network at its own address. Anyone can call it, and the network runs it the same way every time. Tokens are the most common example: a token contract keeps a table of who holds how much and moves balances when the rules allow.

This is why a "USDT transfer" is really a call to the USDT contract asking it to move a balance. It's also why token transfers cost more than plain coin transfers: running the contract uses gas, or energy on Tron.

For anyone receiving tokens, the contract is the identity of the token. A contract anyone else deploys can use the name "USDT", but it isn't USDT. Check the contract address.

On Valtu

Valtu recognises each token by its contract on each network, and only that contract counts. The coin pages list every contract Valtu accepts. Beyond transfers, workspaces can also make contract calls under the same policies and approvals as payouts.

Related terms

Keep reading.

More in networks and tokens: Confirmations · Finality · Chain reorganization · Mempool · Block explorer · Testnet · EVM · Layer 2 · Token decimals · TRC-20 · BEP-20 · Stablecoin · USDT · USDC · Wrapped token. The whole glossary.

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