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What is a ERC-20 Token?

2022-07-04 77hotness 0likes 0comments

First proposed in 2015, the ERC-20 is a standard for fungible token creation on the Ethereum blockchain. There are hundreds of thousands of ERC-20 compatible tokens.

On the Ethereum blockchain, many tokens operated differently from one another. ERC-20 solved this problem by creating rules for token functionality and providing a template for token creation using an API and smart contract technology. The ERC-20 standard simplified the exchange of tokens across the Ethereum blockchain and impacted the whole cryptocurrency market.

Q: What is a ERC-20 Token?

A: is a standard for fungible token creation on the Ethereum blockchain or set of rules that make it easier for contracts to interact

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Original link:https://decrypt.co/resources/what-are-erc-20-gas-ether-ethereum

Tag: Cryptocurrency ERC-20
Last updated:2022-07-04

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