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
ASIC Resistant
A term used to describe cryptocurrency proof-of-work protocols that are resistant to Application-Specific Integrated Circuit (ASIC), by packing in various parameters that make it difficult for ASICs to have a competitive edge against consumer hardwares.
Offline Staking
Staking without needing to be connected to the blockchain
Bitcoin ATM
A machine from which you can buy or sell Bitcoin. Typically also offers different types of cryptocurrencies.
Second-Layer Solutions
Secondary network or framework built atop an existing blockchain to address transaction speed and scalability issues.
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