The AKRA cryptocurrency is fully compatible with the ERC-20 blockchain network Ethereum standard. It supports six basic functions of the Ethereum smart network with the ability to view them. We tell you what functions the AKRA token has and what they mean.
Functions
Compliance with technological standards makes the AKRA token a universal accounting unit that not only fully meets the concept of cryptocurrency, but also similar in its functional properties to real assets: fiat funds or shares.
The token supports six main viewing functions:
- TotalSupply. The function determines the issue of the token, which means it sets a certain number of units of cryptocurrency issued as part of the project. For AKRA, this value is 1,000,000,000 tokens in the Ethereum blockchain network and a similar amount of cryptocurrency in BSC.
- Name. It determines the full name of the token, which is specified in contracts and external applications. In other words, the name function contains the official name of the cryptocurrency. In our case, this name is AKRA.
- Symbol. This is an abbreviation for the token, which is used when displaying the balance in wallets and encoding the asset on cryptocurrency exchanges. The specialized term for the abbreviation is ticker.
- Decimals. This indicates how many decimal places are after the decimal point. The generally accepted number for most cryptocurrency assets has become 18 digits, AKRA has the same number.
- BalanceOf. The function shows how many tokens are at a certain address. Each network member can view the balance of the specified address.
- Allowance. The parameter sets how many tokens one user can transfer to another. Quotas for smart contracts for each address are available for viewing by all participants in the blockchain network.
Using the AKRA token is simplified as much as possible:
- you can hold your tokens on a crypto wallet, while the reliability and security of storage is provided by the basic protection mechanisms that apply to Ethereum and cryptocurrencies in general;
- you can transfer your tokens to any member of the ecosystem with the speed and cost of transactions that are set for a specific blockchain network or smart chain.
The basic functions of the AKRA token ensure the correctness of its operation in the blockchain network and with cryptocurrency wallets, the functionality and transparency of the circulation between participants. They do not limit the expansion of the optionality of the cryptocurrency, which makes it possible to implement various solutions based on it that meet the specific requirements of the project. Functions are available for viewing by all members of the smart network.
