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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.
24 Jun 2020 1 minute read 3 comments Jandmade
Atomic Wallet has among its functions the option of staking where we can choose between 9 different cryptocurrencies and 2 Airdrops. In some cases we can decide what percentage of profit can be generated and the source. Also when staking some we will...
21 Jun 2020 3 minute read 1 comment Cryptomeitei
Ethereum provides many use case in the crypto space. Token assets has become one of the most important feature in an ethereum ecosystem. Ethereum act as a base line in crypto spac as all the DAPPs are build under the Ethereum blockchain by creatin...
19 Jun 2020 2 minute read 0 comments Mabla
For every transaction and agreement between two parties to flow smoothly without any hindrances there has to be a signed contract and a third party should be there to facilitate the process or to bare as the witness. Since long back agreements are mo...
17 Jun 2020 2 minute read 0 comments Iwasntexpectingthispressure
Anons first Crypto. Post #9 I've been investigating cryptocurrency and the decentralized web since the start of May 2020. This blog is an avenue of documentation and expression of my experience. /biz/coin What is /biz/coin? A community token, for a...
16 Jun 2020 2 minute read 1 comment OvermindSB
Here are the reasons why you should join the SwissBorg Community 1. Becoming a serious bitcoin investor with small and large cap If you ever ask yourself how can i make profit of the up and downs of the bitcoin price, you might realize that, if...
15 Jun 2020 2 minute read 28 comments BitcoinGordon
The only thing better than Ethereum, is Ethereum, which comes with its own warning; don't try building Ether on top of itself. Ether is a breakthrough in the growing cryptocurrency space, but some things are not even meant to be built on the platfo...
14 Jun 2020 1 minute read 2 comments Jumble
Introduction A utility token is a digital asset that is necessary to use in a blockchain ecosystem. The utility token is used to purchase a good or service. Utility tokens are used with decentralized applications (dApps). A utility token is not minea...
12 Jun 2020 2 minute read 0 comments Potaball
The staking feature of Minereum is around the corner (yes, I'll make a post in details when it launched or you can read more about it at Bitcointalk ANN thread). Hence, for those who are interested to participate, you need a source of Minereum. Curre...
11 Jun 2020 1 minute read 1 comment Iwasntexpectingthispressure
Anons first Crypto. Post #4 I've been investigating cryptocurrency and the decentralized web since the start of May. This blog is an avenue of documentation and expression of my experience. I'll keep this brief, I'm not sure who will see it here bu...
10 Jun 2020 1 minute read 0 comments Abhimanyu Krishnan
The MKR token of the MakerDAO ecosystem has rallied by more than 20% following a recent vote that enabled new types of token backed by real world assets to act as collateral for DAI generation. MKR's value jumped by over 20% on June 9. On June 9, M...
