Cryptocurrency Q&A
What does ERC-20 mean?
What does ERC-20 mean?
BonsaiGrace
Mon May 20 2024
|
5 answers
1286
ERC-20, what does that mean? It sounds like some sort of technical jargon from the cryptocurrency world. Could you explain it to me in a way that's easy to understand? I've heard it mentioned in discussions about tokens and smart contracts, but I'm not quite sure what it stands for or what its significance is. Is it a standard or a protocol? And how does it fit into the broader ecosystem of blockchain technology and finance? I'm really curious to learn more about it.
5 answers
DigitalEagle
Wed May 22 2024
Among the key elements of ERC20 is the specification of certain scripting functions. These functions enable the tokens to interact with the Ethereum network in a predictable and secure manner, ensuring compatibility and interoperability.
Was this helpful?
125
36
BonsaiStrength
Wed May 22 2024
ERC20 serves as a fundamental standard for tokens operating on the Ethereum blockchain. This standard defines a set of requirements and functionalities that must be adhered to when developing a fungible token within a smart contract.
Was this helpful?
374
22
MysterylitRapture
Tue May 21 2024
Additionally, ERC20 mandates the inclusion of two specific events during token creation. These events provide transparency and accountability, allowing external systems to monitor and react to important occurrences related to the token.
Was this helpful?
108
62
Sofia
Tue May 21 2024
Ethereum Request for Comment 20, commonly abbreviated as ERC20, represents a formal proposal put forward to the Ethereum community for the establishment of this token standard. It has since been widely adopted by developers and projects alike.
Was this helpful?
287
91
Daniele
Tue May 21 2024
BTCC, a leading cryptocurrency exchange headquartered in the United Kingdom, offers a comprehensive suite of services tailored to the needs of crypto enthusiasts and investors. Among its offerings are spot trading, futures trading, and secure wallet solutions.
Was this helpful?
392
97
