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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.
27 Oct 2020 1 minute read 1 comment Novasky
I always wonder when we participate in platforms like stackoverflow, reddit, slack and discord, we don't get paid for our help or content written. And that is where many content blockchains come into the play. In past I have covered LBRY, Uptrennd th...
22 Oct 2020 2 minute read 0 comments Venkatz
MANTRA DAO is also a DeFi Platform which is community governed platform with decentralized ecosystem for web 3.0. In simple MANTRA DAO is Targeting Staking, Lending and Governance. MANTRA DAO is built on RIO Chain it interoperable with Polkadot net...
22 Oct 2020 3 minute read 17 comments Cryptonator`s
Damn, are you also tired of your traditional bank with its meager interest rates? Well, I am definitely tired of that but luckily I have some good news for you because Compound FInance could be exactly the solution we are looking for. What Is Compou...
21 Oct 2020 1 minute read 0 comments Simplify Crypto
On September 26, the Asian exchange KuCoin suffered what is considered the third biggest hack since the creation of Bitcoin involving cryptocurrency exchanges. The criminal exploited security vulnerabilities and had access to private keys, stealing a...
21 Oct 2020 2 minute read 0 comments BitMedia Buzz
Touting the first blockchain-biometric technology that can secure and authorize a fully decentralized identity, the Uniris ID solution is taking on a colossal role in the area of identity and security. As a young startup that began in 2017, Uniris is...
18 Oct 2020 3 minute read 6 comments Cryptonator`s
Some blockchains are using a Proof-of-Work (PoW) mechanism, some are using a Proof-of-Stake (PoS) mechanism and then there is DigitalNote. DigitalNote is a robust Proof-of-Work and Proof-of-Stake hybrid blockchain. So let me explain what the benefits...
11 Oct 2020 5 minute read 6 comments MintDice.com
There are a ton of cryptocurrencies circulating the markets nowadays, and it’s hard to keep tabs on each and how they solve unique problems. Many people are familiar with the Ethereum blockchain network and how it uses smart contracts to bring legal...
10 Oct 2020 2 minute read 26 comments Cryptonator`s
Let`s be honest, guys. We all have to carry our own bag that`s filled with shitcoins. FUD.finance promises to turn your shitcoin collection into an unforgettable and fun memory. Who knows, maybe these guys are about to create the biggest shitcoin of...
5 Oct 2020 1 minute read 0 comments Pauchok
Hi there! Second post! In this post, I'll be talking about a new coin that is currently being made by @nic281. Sierra Hexa Deltas. What Are They? Sierra Hexa Deltas or SHD is an ERC-20 coin. With SHD there is no staking and you get to hold your inve...
5 Oct 2020 1 minute read 0 comments Freitastutorial
What is Libra Dragon? Libra dragon is a new game that was developed in the blockchain system of the ethereum network, thus being an Erc20 token with communities all over the world. the dragons How do I win in the game? You will create your registrati...
