ERC-20
The ERC-20 (Ethereum Request for Comments 20), proposed by Fabian Vogelsteller in November 2015[1], is a Token Standard that implements an API for tokens within Smart Contracts.
Example functionalities ERC-20 provides:
- transfer tokens from one account to another
- get the current token balance of an account
- get the total supply of the token available on the network
- approve whether an amount of token from an account can be spent by a third-party account
If a Smart Contract implements the following methods and events it can be called an ERC-20 Token Contract and, once deployed, it will be responsible to keep track of the created tokens on Ethereum[2]