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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.
16 Mar 2020 1 minute read 0 comments TimeWaster
Hello all !! I have found interesting site , where you can spend your tokens from airdrops , even if they are not listed on any official exchange . Its very useful tool , especially when you realize that you become an owner of some shitcoin and yo...
16 Mar 2020 2 minute read 1 comment ScreenTag
As mentioned in 'Can all assets be tokenised?' smart contracts only work online. Any smart contract tokenising an asset, needs a traditional analogue contract, with only purpose to transfer ownership of a tangible asset to token holders, whoever they...
10 Mar 2020 7 minute read 11 comments SkinnerCrypto
So, I see that my last post was... Hit or miss. Mostly hit, but a little miss. A good thing that came about was that I learned HOW TO CREATE MY OWN ERC-20 TOKEN! I gotta be honest, that was pretty rad. But, THERE'S MORE TO BE LEARNED. My attempt was...
8 Mar 2020 5 minute read 13 comments bettercallpaul
Use Case Ideas - Prison Commissary Purchases and Inmate Accounts by W. Paul Alexander Bitcoin Behind Bars We all know that mass adoption of Blockchain technology is right around the bend. From cash alternatives to settlement projects to worl...
7 Mar 2020 1 minute read 1 comment Freitastutorial
AirDroip In the Trust wallet that is providing 100 twt tokens for new users download the wallet WINNING MODE Download the app make all the wallet settings as soon as you do that clickin the + that is on the right side of the application put the let...
3 Mar 2020 1 minute read 1 comment crab
Introduction Hello whoever is reading my post. Today I am gonna be talking about a deflationary token built on Ethereum called KEE Dollars! What is a deflationary token? One common question you may have when seeing this is "What is a deflationary...
22 Feb 2020 1 minute read 4 comments Crypto coffe & others
Then as you know even in scams there is the possibility of jon being fooled indeed, perhaps if you are quick and smart also to earn. Given that 99.99% are scams and you do not have the ability to seize the fleeting moment, I explain ... So in the v...
20 Feb 2020 15 minute read 11 comments MuyAsk
Hey guys :) I’m back with yet another comprehensive list of questions with informative answers, this time about the leading blockchain-gaming cryptocurrency – Enjin Coin (ENJ). If you haven’t checked out my previous FAQ articles on Chainlink (LINK) a...
15 Feb 2020 2 minute read 0 comments DimitarM
Hello guys, I have Huobi Wallet for few months now but haven't been paying much attention to it due to the fact I was using another wallet that is both Desktop and mobile and that is more convenient for me. Anyway, recently I caught some tweets from...
13 Feb 2020 1 minute read 0 comments cLEarn
Spanish football club FC Barcelona, or Barça, has teamed up with fintech platform Chiliz to create a blockchain-based token $BAR FC Barcelona hope that with Chiliz partnership they will increase engagement between club and fans through Barça fan tok...
