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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.
I have heard an argument against utility tokens and other forms of tokens by someone that seems to believe they stumbled upon a truth that others do not know. It motivated me to write this post, since this opinion that utility tokens are worthless an...
The growth of blockchain technology, fed by the rabid nature of investors looking to make a quick buck, has been accompanied by a copious amount of bloated descriptions that sell the advantages of the technology in every possible industry. Just becau...
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Agareum is an online cryptocurrency gaming platform where users can play against each other and earn different coins and tokens based on their performance. Agareum is a so-called gamedrop platform. It is a gaming version of an airdrop where users hav...
The ERC20 token Miasma is migrating to a new contract address : 0xa52d617149ba4dd280A1D76Fe3821C4547a382C9 The previous contract address was: 0x80b1DC852f3aeeF243ffdD2D47c7435b21284DCb This migration gives Miasma the following new features : A whitel...
INTRODUCTION Since the birth of Bitcoin in the late 2000’s, multiple cryptocurrencies have been created, presenting to the investing world a slew of new technologies and methods of payment in the form of a blockchain, and semi-anonymous peer-to-pee...
After more than a year of development, the gaming platform “The Sandbox” announced the new dashboard launch. While further development is coming down the road, players can now experience the first version of it. It’s working off-chain, for now, and b...
Continuing my post from yesterday, where I explained how to make an air-gapped/offline wallet with the MyEtherWallet client-side interface, today we are going to see how to receive and send money (ETH, BAT or other ERC-20 tokens) to this offline wall...
Calculating Factors With a circulating supply of 1,338,750,672 and a maximum supply of 1,500,000,000 like bitcoin basic attention token is near its limited and finite supply. The good thing about this fact means scarcity will create demand and demand...
One of the most daunting aspects of getting into crypto for beginners certainly is learning how to manipulate wallets, especially the most essential part: keeping it safe. Now if you read any forum on the internet you will get the same advice: buy a...
Medical specialties have been developed in the last centuries since the establishment of modern medicine. According to the parts of the body affected by some pathology, efforts to provide well-being and health should be emphasized. For this the precu...
