What is UTON?
UTN is the native token in the UTON blockchain system and is used for value exchange and payment. It is also a digital asset issued on the blockchain, representing a certain value or equity. On Ethereum, tokens are typically smart contracts created based on the ERC-20 or ERC-721 standards. Tokens can represent real-world currencies (such as cryptocurrencies), or they can represent other assets, equity, or virtual currencies within an application. Through smart contracts, tokens can be used.
Gas is used to measure the computational cost of executing smart contracts and transactions. Each operation (such as reading or writing storage, performing operations, etc.) requires a certain amount of Gas. When users send transactions or call smart contracts, they need to pay corresponding gas fees. The amount of gas cost depends on the complexity of the operation and the usage of computing resources. Miners are rewarded with gas fees by verifying and packaging transactions.
In the UTON blockchain, gas fees can prevent bad actors from bringing spam to the network, such as preventing unintentional or malicious infinite loops or other computational waste in the code, helping to ensure the security of the UTON network.
