A cryptocurrency name identifies the asset being transferred, while the network name indicates on which blockchain the transaction is recorded and executed. ETH can therefore be held on Ethereum or Arbitrum One, but the two networks maintain separate records of its movements. The ERC-20 standard defines common functions for fungible tokens, including balance queries, transfers and spending approvals, without determining the networks on which they are used. For example, Ozoon accepts ETH and USDT on the Ethereum mainnet, with ETH being Ethereum’s native asset and USDT an ERC-20 token. Moving between networks, such as through the Ethereum-to-Arbitrum bridge, requires a specific cross-network mechanism and is not equivalent to simply switching the network displayed in a wallet.
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