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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.
4 Jan 2022 1 minute read 0 comments ScreenTag
ScreenTag Inc. selected Coinbase Global as our order book facilitator for our upcoming security token auction, under Regulation S. The company will be offering 160,000 tokens, in four auctions, representing 160,000 shares of common stock in the compa...
3 Jan 2022 4 minute read 2 comments Aavegotchi
Aavegotchi's Gotchiverse Introduces Four New ERC-20 Tokens What is Gotchus Alchemica? The Aavegotchi Gotchiverse introduces four unique play-to-earn ERC-20 tokens that players can earn through active collecting and passive harvesting. These four tok...
12 Dec 2021 1 minute read 0 comments LeftFooted
Moss Carbon Credit (MC02) is a token designed to represent, as the name suggests, a project that serves a sole purpose: Earth preservation. This is hugely important, and I say that with absolute neutrality. This is not a political statement, what I...
29 Nov 2021 1 minute read 0 comments Hepatic
We hear a lot about "use case" when it comes to cryptocurrency. Especially when it comes to ERC-20 tokens (so called utility tokens), since these are tokens that are supposed to represent actual utility/usage and not necessarily currency. Thus toda...
29 Nov 2021 3 minute read 0 comments StealthEX
Alchemy Pay is a payment system for businesses combining fiat and crypto markets. Its tools can be used in major offline systems, online, or embedded payment structures. Keep reading the new StealthEX article and find all the interesting features of...
17 Nov 2021 1 minute read 0 comments Hepatic
So while people are hollering Bull/Bear market, or other critter names, some companies just keep on working hard to expand the Cryptoverse. If you follow me, you know one of my favorite tokens for these type of projects is of course XYO! This ERC20...
4 Nov 2021 3 minute read 0 comments DailyCoin
Visit DailyCoin for more articles Huobi Token (HT) is the native cryptocurrency token of the Huobi Global exchange Huobi is now a Type I Financial Instruments Business, allowing the exchange to operate derivatives trading Huobi has launched a ne...
15 Oct 2021 1 minute read 0 comments Hepatic
Three million nodes and counting! Yes, you read that right, the XYO network has surpassed the 3 million node mark and has quickly become one of the worlds largest Blockchain networks! I've included the link to the Medium article below along with th...
13 Oct 2021 1 minute read 0 comments Hepatic
I figured I would quickly share a decent synopsis article about the XYO token published in Techstory (link below). The author does a pretty good job os explaining the XYO concept, token, and seems to have a pretty good understanding of the potential...
12 Oct 2021 2 minute read 3 comments Austras
Back in 2016/2017 a group of traders found that there was a lack of exchanges that properly offered a strong platform for traders to leverage themselves with. This group consisted of Sam Bankman-Fried & Gary Wang who got together and founded FTX, a d...
