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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.
9 Dec 2020 3 minute read 2 comments Thatguyheis
I love the idea of changing currency and economics. One of the reasons we all love crypto is because it puts power back into our hands. I’m a strong advocate for individual mining and creation of value and therefore crypto. Be warry the elite and con...
5 Dec 2020 1 minute read 4 comments kodi0014
As I stated months ago, Cardano is one of my favourite projects and a potential long term hold project. I think that the rise in price during the last couple of weeks has caught the eye of a lot people in the crypto community. There are many reasons...
24 Nov 2020 1 minute read 5 comments Beren
Publish0x has just added the Ampleforth $AMPL as a tipping token for Publish0xer. The LRC will be replaced with AMPL by Tuesday, December 15th. There are 2 options available for your current LRC. First option : if you would like to receive the LRC to...
22 Nov 2020 1 minute read 1 comment Eternal Cash
🔬What is Eternal Cash ?Eternal Cash $EC is our storage of value and utility token for our Casino and future dApps.Eternal Cash will launch with a own online casino which only accept our $EC token.Eternal Cash is ready to build decentralized applicat...
19 Nov 2020 1 minute read 2 comments Thatguyheis
We all love crypto and are glad to see the record heights for many crypto currencies like bitcoin. As I’m writing this bitcoin is at $ 18,000!! I am writing this to spread the news of a way you can create crypto from the comfort of your home and sma...
18 Nov 2020 4 minute read 2 comments Merthin
This is a continuation of my article on XYO Coin App BOSS feature and it assumes that you are already using the Coin App. (If not, use this link and get 1000 COIN for a starter). In part one, we looked at how to get started with Coin BOSS and how to...
17 Nov 2020 3 minute read 4 comments Merthin
Hello Cryptofans. XYO is an ERC-20 token linked to geolocation data. Assuming you are familiar with the concept, I am not going to describe what XYO is and how it is linked to physical locations. This article is for existing Coin App users (if you ar...
10 Nov 2020 1 minute read 2 comments CryptoDavey
Uniswap is a fully decentralized on-chain protocol for token exchange on Ethereum that uses liquidity pools instead of order books. It is currently the best marketplace to swap tokens, create a market, or manage your liquidity pool as Uniswap current...
9 Nov 2020 1 minute read 1 comment TMod_Marco
With plenty of new people joining the cryptocurrency space, it's time to continue to explain the basics of this space.Today, I'd love to explain to you what ERC-20 tokens are. ERC stands for Ethereum Request for Comment, and 20 is the proposal identi...
8 Nov 2020 4 minute read 10 comments MintDice.com
The different terms thrown around the cryptocurrency world have drummed up a lot of confusion. What’s the difference between a crypto coin and a crypto token? What is an altcoin and why are they referred to as cryptocurrencies? In many ways, the cryp...
