Cryptocurrency Basics | What Exactly Is ERC-20?
The decimals field in ERC-20 specifies how many decimal places a token can be divided into. Many tokens use 18 decimal places, while some use only 6.
A unified standard makes composability possible: wallets, exchanges, and DeFi apps all handle tokens using the same interface, so newly issued tokens can be supported right away.
ERC-20 tokens are issued on Ethereum, and you need $ETH to pay gas when transferring them.
The market is always full of surprises, so decide in advance what you’ll do if your judgment turns out to be wrong.
#ETH
These are personal observations, not investment advice.
The decimals field in ERC-20 specifies how many decimal places a token can be divided into. Many tokens use 18 decimal places, while some use only 6.
A unified standard makes composability possible: wallets, exchanges, and DeFi apps all handle tokens using the same interface, so newly issued tokens can be supported right away.
ERC-20 tokens are issued on Ethereum, and you need $ETH to pay gas when transferring them.
The market is always full of surprises, so decide in advance what you’ll do if your judgment turns out to be wrong.
#ETH
These are personal observations, not investment advice.