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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.
Important Notice: The Callisto Network community wrote the "Dexaran - The Man Behind the Code" series to present Dexaran's history and contributions. Recently, Dexaran initiated a fundraising campaign for DEX223 and has been presenting himself as "T...
Note: This article was originally published under the Callisto Network blog. We are now evolving into Fushuma, a community-driven blockchain leveraging advanced ZK-Rollup technology for low fees and high throughput. In Fushuma, FUMA token holders d...
Note: This article was originally published under the Callisto Network blog. We are now evolving into Fushuma, a community-driven blockchain leveraging advanced ZK-Rollup technology for low fees and high throughput. In Fushuma, FUMA token holders d...
Any new user always surprised by looking in crypto space that by invention there was one crypto and one Blockchain then how BEP20, ERC20 and other chains developed. Crypto, such as Bitcoin, have been around since the early 2000s, but the exact per...
In the dynamic world of cryptocurrencies, stability and reliability are sought-after qualities that can often be elusive. Amidst this landscape, TrueUSD (TUSD) emerges as a trusted and transparent stablecoin, offering users a secure and predictable d...
Floki: From Meme to Utility and Partnership with World Table Tennis Championship. Floki started as a meme coin, named after Elon Musk Shiba Inu pet dog (Do not confuse it Shiba Inu cryptocurrency, actually it is the name of the Japanese dog breed, i....
As someone who has been involved in the crypto world for quite some time, I have seen firsthand how quickly the landscape can change. Keeping up with the latest updates and developments can be a challenge, but it's essential if you want to stay ahead...
Note: This article was originally published under the Callisto Network blog. We are now evolving into Fushuma, a community-driven blockchain leveraging advanced ZK-Rollup technology for low fees and high throughput. In Fushuma, FUMA token holders d...
As many of you know, SPOT has been added as yet another tipping token on Publish0x. For many people, including myself, there was a period in which that was a frustratingly pointless decision, since we had nowhere to which to withdraw it, nor a means...
Hi everyone, we are back with another episode of our podcast allowing you to get to know people working behind the scenes of the crypto industry. Today we are joined by Ahmed Ismail, the CEO and founder of Fluid Finance. Welcome to the 125th episode...
