Difference between revisions of "ERC20"

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The [[ERC20|ERC-20]] introduces a standard for Fungible Tokens, in other words, they have a property that makes each Token be exactly the same (in type and value) of another Token.
The ERC-20 introduces a [[Token standards|token standard]] for Fungible Tokens, in other words, they have a property that makes each Token be exactly the same (in type and value) of another Token.


For example, an ERC-20 Token acts just like the ETH, meaning that 1 Token is and will always be equal to all the other Tokens.<ref>https://ethereum.org/en/developers/docs/standards/tokens/erc-20/</ref>
For example, an ERC-20 Token acts just like the ETH, meaning that 1 Token is and will always be equal to all the other Tokens.<ref>https://ethereum.org/en/developers/docs/standards/tokens/erc-20/</ref>

Revision as of 19:09, 21 April 2022

The ERC-20 introduces a token standard for Fungible Tokens, in other words, they have a property that makes each Token be exactly the same (in type and value) of another Token.

For example, an ERC-20 Token acts just like the ETH, meaning that 1 Token is and will always be equal to all the other Tokens.[1]

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

Sources