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
Replay Attack
A replay attack is a form of network attack when valid data transmission is fraudulently intercepted, then delayed or resent to mislead the receiver into doing what the hacker wants.
Pay-Per-Share (PPS)
You are compensated for each valid share that you contribute. Each share is worth a set amount of cryptocurrency that may be mined.
Custody
Protective care or guardianship of an asset.
Staking
The state of locking-in significant amount of token to participate as a validator of a Proof-of-Stake network.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.