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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.

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Related Terms

Buy/Sell Tax
On-chain buy or sell tax rate where a percentage of the tokens bought/sold will be transferred to a set address.
Cold Storage
Offline storage of cryptocurrencies which is arguably safer as they also require physical access (eg. hardware wallet, paper wallets)
Atomic SWAP
Atomic Swap refers to the exchange of cryptocurrencies that operate in different block chains without intermediaries.
Non-Fungible Tokens (NFT)
They are collectible elements within the Ethereum blockchain under ERC-721, where each token refers to a single element with a certain value
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