What Are ERC-20 Tokens?
ERC-20 Standard As far as Ethereum is concerned, ERC stands for Ethereum Request for Comments, which is a technical document outlining Ethereum programming standards. Unlike Ethereum Improvement Proposals (EPIS) that suggest improvements to the protocol itself, the goal of ERCS is to establish agreements that make it easier for Dapps and smart contracts to interact with each other. Proposed by Vitalik Buterin and Fabian Vogelsteller in 2015, ERC-20 refers to a relatively simple format for Etherium-based tokens. By following the outline, developers can build a foundation that has been used throughout the industry. Basically, it is a standard interface (protocol) for tokens based on Ethereum. Once new ERC-20 tokens are created, they can automatically interoperate with services and software that support the ERC-20 standard, such as software wallets, hardware wallets, and exchanges. It is worth noting that the ERC-20 standard has gradually developed into EIP (specifically, EIP-20). E...