ERC-20

ERC 20 stands for Ethereum Request for Comment 20. It has established a standard for fungible tokens, which must be included in the smart contracts on the Ethereum blockchain. All tokens minted on ERC 20 are the same in type and value. They are also interoperable.

Functions of ERC 20:

  • All the tokens should provide information about the total token supply.
  • ERC-20 provides total balance in the owner’s account.
  • It can execute transactions of a specified number of tokens to a specific wallet address.
  • ERC-20 can execute transactions of a specified number of tokens from a particular wallet address.

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