A beginner friend asked me about this the other day, so I figured I’d put together a quick explanation.
ERC-20 is the technical standard for fungible tokens on Ethereum. The corresponding proposal, EIP-20, was first put forward in November 2015.
The benefit of having a unified standard is composability: wallets, exchanges, and DeFi protocols can handle tokens using the same set of interfaces, so new tokens can be integrated as soon as they launch.
ERC-20 tokens are issued on Ethereum, and every transfer requires $ETH to pay Gas. Currently 2359.25.
When did you figure this out?
#ETH
ERC-20 is the technical standard for fungible tokens on Ethereum. The corresponding proposal, EIP-20, was first put forward in November 2015.
The benefit of having a unified standard is composability: wallets, exchanges, and DeFi protocols can handle tokens using the same set of interfaces, so new tokens can be integrated as soon as they launch.
ERC-20 tokens are issued on Ethereum, and every transfer requires $ETH to pay Gas. Currently 2359.25.
When did you figure this out?
#ETH