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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.
18 Jul 2019 3 minute read 0 comments virtugrana
We live connected. We have a world of connections in the palm of our hand. Through a smartphone, we can communicate with the outside world. So much so that online communication is often more preferred than offline. Facebook Messenger, WhatsApp, Vibe...
17 Jul 2019 1 minute read 4 comments Roberto D.
MetaMask is a browser plugin for computers, you probably use it to withdraw from Publish0x. MetaMask has announced that on 22 July 2019 (in less than 7 days) it will launch its own app for mobile. Bobby Dresser, Product Manager of MetaMask: "Th...
16 Jul 2019 1 minute read 5 comments kevW!ls0n
The Basic Attention Token (BAT) project and the related Brave browser project is one of the best Ethereum based tokens. And in my opinion, one of the best altcoins out there. Period. The major reasons for why I think BAT should be a token that shoul...
15 Jul 2019 1 minute read 4 comments connecteconomy
The Pillar Project reached another mile stone last week: you can now exchange your tokens directly in the wallet! Introducing the "Offers Engine" It's super simple and intuitive, but if you like instruction videos, you can watch this short clip to se...
11 Jul 2019 2 minute read 1 comment Adamic0
I want to highlight 2 projects that are looking good for the big time as we head into 2020. These are Lisk and NEO and I’ll explain why soon, but let me first let me tell you a little bit about both projects. Lisk (LSK) is a platform that is primaril...
11 Jul 2019 1 minute read 0 comments Blurryface
I reached a revolation simply. Basically one beetle comes to thrive in the desert during monsoon season to mate and die. Me I questioned why. Are the monsoons a creation of weather patterns or biological systems. The bugs no doubt create a smell duri...
2 Jul 2019 1 minute read 0 comments BtcSapiens
The ERC20 wallet that I want to share with you today has some peculiarities with respect to other ERC20 of which we have previously spoken as MyCrypto, MyEtherWallet or TrustWallet, three crypto wallets that i love. Eidoo supports countless tokens, i...
9 Jun 2019 1 minute read 0 comments bitcoinflood
Ethereum has been one of the biggest token distriubutors outbeating any other cryptocurrency token system by ten fold. This is because of the amount of capital behind the ethereum token, developers working on ethereum and token based projects and num...
5 Jun 2019 1 minute read 2 comments BtcSapiens
Most crypto users think that the intrinsic technology that entails, and the progressive use of them by people will increase their value in the future. Beforehand a stablecoin like DAI looks like a obstacle to take advantage of the fluctuation of the...
31 May 2019 4 minute read 1 comment kenadzen
The “fourth industrial revolution” was described by the World Economic Forum as a new era of technology and industry. A trinity of disruptive technologies is driving this revolution: blockchain, the internet of things, and artificial intelligence. t...
