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
Graphical Processing Unit (GPU)
They are chips dedicated to graphics processing or floating point operations, allowing to lighten the workload of the processors during applications usage such as video games.
Utility Token
cryptocurrency tokens with specific utilities on a network besides being used as medium of exchange and investment vehicle.
Custody
Protective care or guardianship of an asset.
InterPlanetary File System (IPFS)
The InterPlanetary File System (IPFS) is a peer-to-peer network and distributed file system protocol for storing and transferring data.
Interested to stay up-to-date with cryptocurrencies?
Get the latest crypto news, updates, and reports by subscribing to our free newsletter.
Or check it out in the app stores
