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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.
pTokens has announced the launch of the new ERC-20 token, pLTC, which will represent Litecoin on the Ethereum blockchain. For now it has been launched on testnet, as well as the two predecessors pEOS and pBTC. Litecoin is currently the sixth largest...
"HEX is a Scam! HEX is a Ponzi!!! HEX is a Shitcoin!!!!!" The Twitterers have tweeted, the Youtubers have streamed, the Bitcoin OGs have decried all while the investors have continued to invest in the notorious Ethereum token HEX founded by the ever...
BNS is an upcoming multi-protocol utility token by Bitbns, which aims at enabling general masses to use cryptocurrency just like they use FIAT currency in day-to-day transactions. Beyond founding the basic utility of a cryptocurrency as money, BNS wo...
I think I had a bit of a weird introduction to crypto. Maybe I'm wrong. I mean, how could you possibly have a "normal" entry into a market that gained traction as a medium of exchange for Magic: The Gathering Cards and illicit substances. It's def...
If you have a great idea for an Initial Coin Offering, but don't have the time or the coding skills to get things off the ground, then you can mint your own ERC-20 tokens at https://tokenmint.io/. For $200, TokenMint will hold a crowdsale for your I...
With the arrival of the Ethereum Network, the crypto community saw a revival. Vitalik Buterin's vision led to the birth of the alt-coin market, and a few years after going live, the Ethereum Network now supports more than 200,000 ERC-20 token contra...
Social messaging apps are popular among cryptocurrency communities. As Telegram seems to be filling up with more and more scammers and spam, not to mention the recent problems with the SEC, more and more of my conversations for business and networki...
The AARGOS Global Real Estate Fund has been approved as an alternative investment fund (AIF) by the Liechtenstein financial market authority (FMA); it is the first tokenized real estate fund that operates in a completely regulated and approved by the...
Good evening! Preseach is an Internet search engine that rewards users for using its site with its native PRE token. It is free to use and earning free PRE happens automatically for each search. You will get paid up to 8 PRE coin (cca 0,15$ for 1 cli...
If you missed any news: Cryptocurrency expert Virgil Griffith arrested, his fault being attending a conference on Ethereum Vitalik Buterin, the founder of ethereum, expressed solidarity with Virgil Griffith for his arrest in Los Angeles The Ethereu...
