What is ERC-20?
ERC-20 stands for Ethereum Request for Comments (ERC), and 20 represents the proposal identifier in the blockchain. A proposal ID number represents a list of rules required to create, share, or transfer tokens on that specific ID, with the ERC-20 list being the most widely used set of protocols.
The ERC-20 token standard, a technology used to scale exchangeable tokens associated with the broader Ethereum network, is now available in the crypto ecosystem, with stablecoin Tether and leading oracle service Chainlink both ERC-20 token.
ERC-20 tokens are digital assets that can be developed by anyone, but are primarily made by businesses and technology companies. All tokens serve a specific purpose, such as granting users the right to vote on decisions involving the future of the project. These tokens are typically sold through several donations to increase the early capital of the project.
