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ERC-20 refers to the token standard of the Ethereum (ETH) network. Several tokens have adopted the versatile standard and the cryptocurrency market is replete with ERC-20 tokens. More popular ones includes Basic Attention Token (BAT), Maker (MKR), Augur (REP), OmiseGO (OMG) and Ziliqa (ZIL). Tens of thousands of ERC-20 tokens exist on the Ethereum mainnet.
ERC-20 tokens do not have their own blockchain, instead running on the Ethereum mainnet. When a token is referred to as an ERC-20 token, what is actually being referred to is the fact that the tokens follow the ERC-20 protocol standard. This protocol is a set of rules and communication standards that enables the use of smart contracts. To a degree, this standard lays a common foundation for these tokens, which allows for multiple tokens to run on the Ethereum network. Without going too much into detail, the ERC-20 standard defines six different mandatory functions within the Ethereum ecosystem, and three optional ones.
The benefits of having a common standard include better smart contract security, a commonality in the tech, and quicker and more convenient token implementation.
The proliferation of the ERC-20 standard has led to the creation of other standards, such as TRON’s TRC 10 and TRC 20 standards. Each comes with its own rules that have been adapted to suit its network.
22 Feb 2021 5 minute read 12 comments Thomas Wolf
Last month I wrote Uniswap - To The Top, in which I stated Uniswap was not a token to be taken lightly, and it is known to swing hard - the last 72 hours has been evidence of that. “To expect the unexpected shows a thoroughly modern intellect.” ― Osc...
11 Feb 2021 1 minute read 2 comments Edwin TechKnow
With ETH gas fee's going through the roof that affects ERC-20 tokens, and in my mind, cast them all in a negative light. To transfer fiat money between two different bank accounts, the bank is going to charge you right around $10. After recently spen...
6 Feb 2021 1 minute read 0 comments Arkemmus
When DeFi meets meme culture. Pickle Finance is an amazing DeFi project which combines stunning features with a strong sense of humour. Among its best features, we can mention: Pickle Jars, that allows users to deposit tokens from liquidit...
5 Feb 2021 1 minute read 0 comments Arkemmus
Doki Doki Finance is one of the most exciting projects out there! This platform has lots of interesting features, such as: DeFi staking (Dstake), where you can stake and earn interests on 2 different tokens: DOKI and AZUKI. NFT platform (on deg...
4 Feb 2021 2 minute read 0 comments Jreck
Welcome for the fifth day analysis about the top mover and loser right now in the crypto market. Should you concern? I brought another new analysis on crypto market with no manipulation. However these coins are erc20 token there is very less trust s...
1 Feb 2021 1 minute read 4 comments yanis
Didn't anyone think, one day, about making its own erc20 token ? I'll explain you how to make that here ! So, let's go ! 1 - Requirements If you want to deploy contract, you need to have metamask installed and some ether for transaction fees. Here...
31 Jan 2021 1 minute read 1 comment Arkemmus
Scrolling and searching for new crypto projects, I found this hidden gem. Tendies (TEND) is an Ethereum-based token that describes itself as a "social experiment", with a strong hyper-deflationary touch. Since I prefer (by far) deflation over i...
20 Jan 2021 2 minute read 38 comments Cryptonator`s
At the moment, you have the chance to earn 3 $1INCH tokens (about $5.50) on CoinMarketCap Earn. Successful users will receive 3 $1INCH each until the total rewards pool of 50,000 $1INCH runs out. It`s easy and here is how it works, step by step. 1....
19 Jan 2021 1 minute read 1 comment Makingdigital
It may have crossed your mind to make a purchase of Ampleforth at its low point and wait for it to expand again and sell it to make a succulent profit. Before buying, pay attention to some AMPL basics. These details could save you money and more of a...
18 Jan 2021 1 minute read 0 comments Makingdigital
Are you a lover of passive income? I hope so dear reader. I bring you a simple tutorial on how to staking BETH in Beefy.finance. I am falling in love with the DeFi platforms that work on the Binance Smart Chain. Few commissions, lightning-fast trans...
