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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.
19 Mar 2019 1 minute read 1 comment LiteLiger
Video above was filmed prior to the recent announcement of Viuly closing down, who managed to collect 30M during their ICO after this tried even staking service to further collect money from people and now announced that they failed to pay for serve...
18 Mar 2019 2 minute read 10 comments littleboy
Amazon Web Services (AWS) is a major competitor of golem network. Golem Network could become economically unsustainable if AWS provided better and cheaper services than Golem. This is a major concern many Golem investors have in their mind. AWS provi...
17 Mar 2019 1 minute read 0 comments BlockchainAuthor
Happy Saturday, everyone! Last week, I alerted the P-0x fam to the bounty program of a promising project operating in a gigantic, $300B industry -- data services. In case you missed it, click here to take a trip in a time machine. This week, their te...
4 Mar 2019 3 minute read 6 comments Mayor
Postponed twice, faced many setbacks as a result of potential security vulnerability found in one of the software upgrades combined with strong disagreements from the Ethereum core developer and security community for a delayed upgrade. The much anti...
28 Feb 2019 2 minute read 0 comments talkcrypto
Whenever e-commerce is mentioned one giant will forever be tagged for massively making online shopping possible, “Amazon” and how it’s Founder and CEO Jeff Bezos disrupted the commerce industry in the nineties using the power of the internet and toda...
20 Feb 2019 1 minute read 0 comments BlockchainSEO
In a February 18th, Reddit AMA, Ethereum founder and his core team revealed there cryptocurrency holdings (other than Ethereum of course). So, what exactly does Ethereum’s outspoken leader have in his portfolio? Let’s take a look. For starters, the R...
10 Feb 2019 6 minute read 3 comments Alexander Niski
In true American fashion, the chair I’m sitting on was made in China, my table is from Thailand, and the whiskey on my shelf was imported from Ireland. Most of the stuff around me originated from somewhere else, and if you’re indoors it’s a safe bet...
13 Jan 2019 2 minute read 1 comment talkcrypto
It might interest you to know that 44.6% of calls to mobile phones will be scam calls by the Q2 2019 rising from 3.1% in Q2 2017 to 29.2% in Q2 2018 according to First Orion, a leading provider of phone call and data transparency solutions. Collectin...
14 Oct 2022 2 minute read 2 comments Duvinca
Hello everyone! And again another new airdrop in Coinbase! It's always a good new. We like those fast and easy quizzes of three questions with which we can earn 3$ this time in 00 tokens (P00LS). It's simple, just go to the menu of the wallet app or...
5 Jul 2022 1 minute read 2 comments LeftFooted
A few months ago I came up with an ambitious plan, a straightforward idea: everything and anything I do, every day, has to be a source of passive crypto income. The good news is it is not as impossible as it sounds, the bad news is we’re obviously...
