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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.
15 Dec 2024 1 minute read 0 comments Andres Randy
In the world of cryptocurrencies, privacy is an essential yet often overlooked factor. The Arcane 0x0 wallet revolutionizes this aspect by offering private transactions and interaction with smart contracts on the Ethereum network. Additionally, it gr...
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...
23 Nov 2023 2 minute read 4 comments Coins Reporter
Hello folks! Today I am back with another reporting on potential 100X coins and tokens in near future. With all the hype for ETFs and Bitcoin halving, it's the right time to assume that a big bull run is definitely inching closer. It's also the high...
17 Oct 2023 3 minute read 3 comments Kovichni
So something happened recently and I was reminded of an old, ooooold so called hidden gem that was meant to be 'a decentralized alternative to the traditional banking system' known as Electra and I said to myself: Gosh, that sure was a stupid ******...
20 Sep 2023 1 minute read 0 comments InsideCrypto
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 Gurjeet Kundi who is the Managing Director and Head of Trading at 21co. He joined...
28 Aug 2023 2 minute read 1 comment Fushuma
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...
18 Aug 2023 8 minute read 0 comments Fushuma
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...
31 Jul 2023 2 minute read 0 comments Fushuma
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...
4 Jun 2023 2 minute read 0 comments Amjadwaince
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...
1 Jun 2023 4 minute read 0 comments MintDice.com
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...
