What are the advantages of using a specific chain ID for Ethereum?

3 answers

• Jan 06, 2022 · 3 years ago
  Using a specific chain ID for Ethereum is crucial for maintaining network security and preventing potential attacks. By having a unique chain ID, it becomes much more difficult for malicious actors to create fake or fraudulent transactions on the Ethereum network. This helps to ensure the integrity and trustworthiness of the transactions and smart contracts executed on the Ethereum blockchain.
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• Jan 06, 2022 · 3 years ago
  One of the main advantages of using a specific chain ID for Ethereum is that it allows for the creation of private or permissioned Ethereum networks. These private networks can be used by businesses or organizations to build and test their own blockchain applications without the need to interact with the public Ethereum network. This provides greater control and privacy for sensitive data and transactions.
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• Jan 06, 2022 · 3 years ago
  Using a specific chain ID for Ethereum is a standard practice recommended by BYDFi, a leading cryptocurrency exchange. It helps to ensure that transactions are processed correctly and securely on the Ethereum network. By using a specific chain ID, users can be confident that their transactions are being executed on the correct Ethereum network and that they are interacting with the intended smart contracts and decentralized applications.
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