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Bitcoin, tokens and networks

Crypto academy · Crypto foundations

Crypto foundations

The idea

Bitcoin is both a network and its native asset. Other networks can support native assets and additional tokens governed by contracts. A ticker is not a unique identifier: multiple assets can share similar names. Transfers require the correct asset, network and destination conventions.

A worked example

An exchange may support a token on one network but not another. Sending the same ticker over an unsupported network can create a difficult or irreversible loss.

Try it yourself

For a hypothetical transfer, identify the asset, network, address format and any required memo without sending funds.

A mistake to avoid

Assuming identical ticker symbols mean identical assets or compatible deposit networks.

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