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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.
In recent days, SafeMoon Crypto Soars as it overtakes DOGE, the latest meme coin generating a buzz on social media. Some have even said that SafeMoon is the next Dogecoin (CCC:DOGE-USD), pointing to its quickly growing following. However, as SafeMoon...
I have been using BetFury for several weeks now and have written a couple of times about how I try to gain a steady supply of BTC and BNB without losing too much to their sneaking gambling tricks (here is one article). There are two things I have lea...
All people holding accounts in Coinbase are now given the opportunity to earn USD 6 worth of Universal Market Access (UMA) token. This is not a referral, but trying to spread helpful information. I stumbled upon that today (March 26th). I initially w...
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It has been a long time that I have not pointed my thumbnail on this amazing platform of blogging. Today I am coming with the great news that you should pay attention by the way. This post is the invitation for those of you who like to grab free mone...
$LEO hit 1 $HIVE on trading on https://leodex.io/market/LEO which means I won my bet with rollandthomas. People think I'm nuts when I say that $LEO will pass $HIVE in market cap but they don't understand that $LEO is going beyond its bas...
We know have a several Exchanges, but never is bad know about more new one, mainly when there is licenses granted by the Estonian Financial Intelligence Unit (FIU) to operate, can be usefully for some purposes or participate on promotion and contests...
Are you interested in an investment where an average monthly return of 10% - 20% is possible? This is your chance now ... Sounds incredible - let me explain it to you!! Just register for free and you will get more information from me after registrati...
Good news! Minereum team kept their words. They implemented a feature which enables the users to destroy their 32000 MNE (level 1 genesis address) with no hidden fee other than Ethereum gas fee. For those who want to get rid of Minereum, no bother, y...
Have you ever heard about Minereum V2 Airdrop? TO BE CLEAR, this airdrop ended in the last few weeks ago, now the participants are waiting for distribution. What is the airdrop? Minereum team promises that they will airdrop genesis addresses that w...
