ERC20

ERC20

ERC20 is a technical standard used for Smart Contracts on the Ethereum Blockchain for implementing tokens. It defines a common list of rules that all Ethereum tokens must adhere to, allowing developers to create interoperable tokens.

Key features of ERC20 include:

• Standardized interfaces for token transfers and approval.
• Compatibility with various wallets and decentralized applications (dApps).
• Ability to create fungible tokens, where each token is identical to another.

Examples of ERC20 tokens include:

• Chainlink (LINK)
• Binance Coin (BNB, before it migrated to its own chain)
• USD Coin (USDC)

Cases of usage include:

• Initial Coin Offerings (ICOs) for fundraising.
• Decentralized Finance (DeFi) applications for lending and trading.
• Tokenization of Assets, like real estate or art.