ERC-20
By CoinGecko | Updated on Mar 03, 2020
ERC stands for Ethereum Request for Command, and ERC-20 is one of the most widely used token standards in Ethereum to create fungible, exchangeable tokens.
ERC-20 tokens can easily work with majority of decentralized applications that support the standard. With ERC-20, existing products will not have to worry about accepting tokens that have different standards and this has helped spur development of various decentralized applications within the Ethereum ecosystem.
Most tokens that have been released as a result of initial coin offers (ICOs) are of the ERC-20 standard.
Related Terms
Trustless
Entirely verifiable, without needing to trust or assume an action is done completely and in good faith.
Wei
The smallest fraction of an Ether, with each Ether to 1000000000000000000 Wei.
Ring Signature
A type of digital signature performed in a group where it becomes impossible to determine which member's key in the group were used for the digital signature.
Burned Tokens
Tokens which have been sent to addresses whose private key are not known, effectively becoming unusable.
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