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
Seed
A value used to initiate generation of pseudorandom number, ususally a string of 12 commen English words.
Wallet
Software client that handles storage of cryptocurrencies and allows users to send cryptocurrencies.
BUIDL
An advice for investors to contribute new projects on blockchain rather than holding cryptocurrencies and waiting for the price to increase
Mineable
A cryptocurrency is said to be "mineable" when it has the system thrugh which miners can be rewarded with newly-created cryptocurrencies for creating blocks.
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