ERC-20

ERC-20 is a technical standard used for creating cryptocurrency tokens on the Ethereum network. The term "ERC" stands for Ethereum Request for Comments, and the number "20" is the assigned number to the proposed standard. ERC-20 tokens are digital assets that operate on the Ethereum blockchain and follow a set of rules and protocols defined by the ERC-20 standard. These standardized rules allow ERC-20 tokens to be interoperable with each other and with different services, exchange platforms, and wallets that support the ERC-20 standard.

Examples and Cases:

• Ethereum (ETH):

Ethereum's native cryptocurrency, ether (ETH), follows the ERC-20 standard. Although ETH has distinct features from tokens created under the ERC-20 standard, it remains compatible with wallets and services that support ERC-20 tokens.

• Tether (USDT):

Tether (USDT) is an ERC-20 token that represents a stablecoin backed by the U.S. dollar. USDT is widely used in the cryptocurrency space to facilitate trading and transactions, and it can be stored in wallets compatible with ERC-20 tokens.

• Chainlink (LINK):

Chainlink (LINK) is another example of an ERC-20 token used on the Ethereum network. LINK is a token used in the Chainlink protocol, which enables smart contracts on Ethereum to connect with external data sources.

• Basic Attention Token (BAT):

Basic Attention Token (BAT) is an ERC-20 token created as part of the Brave web browser ecosystem. Users can earn BAT by viewing ads on the Brave browser and then use it to reward content creators or access premium services within the browser.

• Uniswap (UNI):

Uniswap (UNI) is the native token of the Uniswap decentralized exchange (DEX) protocol, which operates on the Ethereum network. UNI is an ERC-20 token used for governance and participation in the Uniswap platform.

ERC-20 has been widely adopted as a standard in the cryptocurrency space, enabling the creation and interoperability of a wide range of tokens on the Ethereum network. This has facilitated the development of decentralized applications (dApps), smart contracts, and innovative financial systems on Ethereum and beyond.