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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.
The cryptocurrency exchange is a platform for trading or buying & selling cryptos with other cryptos. Exchange exchanges are divided into two types namely decentralized exchange and centralized exchange. Aside from being an exchange platform, Exchang...
The current generation recognizes the potential benefits of blockchain, as companies like Power Ledger offer services that are made more efficient through the use of blockchain technology. It is such great news, that right now in the current tim...
Distribution There are 300,000,000 CHESS tokens The distribution will be done as such : 60% for the airdrop and bounty 20% for marketing and project development 15% for team 5% in reserve Usecase Chess Coin will be used to facilitate the ‘eco-sys...
Virgil Griffith, was arrested by the USA for attending a blockchain conference in North Korea (I talked about it HERE), always yesterday a heavyweight of ethereum took to the field to express his solidarity with Griffith; we are talking about Vitalik...
Recently, a lot of changes have occurred to the BrainiacChess Network and Chess Coin. Firstly, Chess Coin was listed on saturn.network, to be traded against ETH. Within the first day of trading, the token has 0.05ETH worth of coins be bought and...
Good news for the online gaming community! For the first time ever, gamers can make real money just for playing a video game — real cryptocurrency, that is, with the GOLDER (GLDR) token. With War Field, the stakes are real and so are the rewards. Wha...
Battle Racer’s early access is available for everyone! Players can join now and fight in real-time PVP races by using car parts they own. Please note that this is a standalone, web version and it’s separate from the Decentraland build. As soon as,...
Cryptocurrencies and tokens have a wide range of uses, ranging from being fully fledged blockchains with their own networks, to simply being a representation of some part of a community. Chess Coin strikes a middle ground between the two, aiming to f...
Yet another novel cryptocurrency is preparing to launch, and this time it is making an appearance in a less expected industry; it is a world of cosplay costumes and role-playing known as “cosplaying,” but don’t be fooled in thinking that this playful...
If you also been waiting for Brave Rewards to be available on iOS just like me, then the big day is finally here, you can finally earn BAT tokens while using Brave browser on your iPhone. Brave browser is an open-source web browser based on the Chrom...
