DeFi 10105 September 2021

What is ERC-20 in DeFi?

Ethereum ERC-20 Tokens

Summary

  • ERC-20 is the most popular Ethereum token
  • They are technical standard tokens for Ethereum smart contracts
  • ERC-20 can be sent and received like other cryptos

ERC-20 is one of the most popular Ethereum tokens that has become the technical standard token for smart contracts on the blockchain. It is used for token implementation, providing a list of rules for other tokens on the Ethereum blockchain to follow.

ERC-20 tokens are digital assets with value, just like litecoin, bitcoin, or any other crypto coin. This means that the ERC-20 tokens can be sent and received. The only difference between an ERC-20 tone and other cryptocurrencies is that they are issues on the Ethereum blockchain.

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