In the world of cryptocurrency everything is powered by a blockchain! Since the birth of altcoins multiple blockchains have arisen. The best analogy is to relate each blockchain to different street names or even different highways or interstates.
Currently Ethereum is the Main Street, or the most used highway. On this highway many entities have created DApps (decentralized applications) or what you would call stores or even gas stations.
In order for users of other highways or streets to use the Ethereum highway (blockchain) they must use a standard called ERC-20 which allows them to make a replica coin for that said blockchain.
ERC-20 is also the standard used to created Ethereum based DApps such as Uniswap, Sushiswap, Synthetix, Axie Infinity, Enjin, Decentraland, Voyager Token
Some of the most popular coins on the Mia popular crypto exchanges are only available because they’re leveraged by the ERC20 token standard on Ethereum.
For example Coinbase and Gemini utilized the Ethereum blockchain for Ethereum based tokens as well as tokens that exist on other blockchains. Perfect examples are
Centrifuge, TerraLuna, UST and Fantom.
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