Ethereum : ERC-20 (Ethereum Request for Comments 20)

ERC-20 is a technical standard for fungible tokens on the Ethereum blockchain. Fungible tokens are interchangeable with each other, meaning that one token is worth the same as any other token of the same type. This is in contrast to non-fungible tokens (NFTs), which are unique and cannot be replaced.

 

The ERC-20 standard defines a set of rules that all ERC-20 tokens must follow. These rules include:

• The ability to transfer tokens from one account to another
• The ability to get the current balance of an account
• The ability to get the total supply of tokens
• The ability to approve an allowance for a third party to spend tokens on behalf of the owner

The ERC-20 standard is widely used, and most Ethereum wallets and exchanges support ERC-20 tokens. This makes it easy to create and trade ERC-20 tokens.

 

Some of the benefits of using ERC-20 tokens include:

• Interoperability: ERC-20 tokens can be used with any wallet or exchange that supports the standard. This makes it easy to move tokens between different platforms.
• Liquidity: ERC-20 tokens are widely traded, which makes it easy to buy and sell them.
• Flexibility: ERC-20 tokens can be used for a variety of purposes, such as representing assets, voting rights, or access to services.

Some of the most popular ERC-20 tokens include:

• Tether (USDT)
• USD Coin (USDC)
• Binance USD (BUSD)
• Dai (DAI)
• Chainlink (LINK)

ERC-20 is a valuable standard for creating and using tokens on the Ethereum blockchain. It provides a set of rules that ensure that tokens are interoperable and fungible. This makes it easy to create and trade tokens, and it helps to ensure that tokens are widely accepted.

 

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