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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 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...
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...
What is Presearch? Presearch is a decentralized search engine built using blockchain technology which is in contrast to existing search engines which are centralized. What makes Presearch unique and eye-catching? There are hundreds of search eng...
Tokeniac I meant to write about how instrumental social media has been in my exploration of crypto. More especially on the truthful Blockchains, can't appreciate the incorruptible technology that only pairs with perfectly fitted blocks to form the c...
The idea behind crypto has come a long way from what it orginally was. Controlling your money and quick payments with low fees was the basic premise, full control of your money. Today this is a basic function of every crypto and if Bitcoin came out t...
Forewarning - I am not a financial adviser nor should you take financial advise from me. This post is only meant for educational purposes only. I will not be responsible for your profits or losses. So before putting your hard earned money into any bl...
Visit DailyCoin for more articles. Revain is a network designed to provide developers with accurate and credible reviews about their blockchain products. Launched in 2018, Revain currently has two tokens, RVN and REV token, which facilitates the...
ARNO Token - A Real Nanotechnology Project. A new work week has begun, and so have we. Despite the end of both IEO rounds on all exchanges, we are not going to rest on our laurels, but we are still working hard on the implementation of our project....
Hey Everyone, welcome back to My blog Crypto Times and Hope you guys are doing good. This article on creating your own token on SmartBCH in few cents of BitcoinCash Step for Creating your own Token1. Install Metamask (you can refer to Youtube Video...
It's been about 2 weeks since I told you that the Travala project is about to pull an etherium peg for it's native token Ava, with the aim to get listed on Uniswap and more cexes and dexes. Since then, they have already made a peg for the bep20 chain...
