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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.
17 Aug 2021 3 minute read 3 comments Md Ausaf Rashid
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11 Aug 2021 3 minute read 7 comments MikeZillo
The Ethereum blockchain, as we know is among the most flexible and programmable ones. It was the first to implement Smart-Contracts and consequently the various tokens. In this article I have already explained the difference between the various token...
7 Aug 2021 1 minute read 0 comments Hepatic
If you are not familiar with the XYO Foundation and the Crypto token XYO, please check them out at the information link below. If you are familiar with XYO, then you know what it means to be back to a penny and holding for multiple days. There are...
6 Aug 2021 8 minute read 16 comments The Glitcher
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4 Aug 2021 4 minute read 1 comment MintDice.com
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8 Jul 2021 3 minute read 0 comments changteck
Note: This post contains affiliate links. I will be earning certain bonuses if you click through the links, and I aim to be very transparent by letting you know what I stand to gain. When it comes to cryptocurrencies, Bitcoin has long been the gold s...
22 Jun 2021 2 minute read 0 comments adriaparcerisas
With punk in mind as a rebellious, non-conformist and playful culture, a group of guys have started a new project based on cryptocurrencies within the world of decentralized finance. The project is called Punkcoin (https://www.punkcoin.net/) and has...
18 Jun 2021 6 minute read 5 comments CryptoWise
ERC-20 standard allows developers to build token applications that are interoperable with other products and services. Today we will understand all the nuances associated with ERC-20 “Ethereum blockchain sets the right foundation & comes loaded w...
7 Jun 2021 3 minute read 0 comments CryptoWingnut
In today’s article I am going expand on my previous one, Smart Contracts: Code Is Law, and take a look into the world of ERC-20 tokens. This should be a short and sweet article, as there is not a lot to them, but they are a pretty valuable resour...
2 Jun 2021 3 minute read 0 comments Crypto Punk
Uniswap is a decentralized exchange, which has two smart contracts on the Ethereum platform, as well as a public, open-source front-end client. Uniswap lets users swap ERC20 tokens, including ETH, with other ERC20 tokens. Users can also contribute t...
