ERC 20 standard

ERC 20 standard

Most blockchain projects are based on a platformEthereum, or more precisely, smart contracts of this network. During investment campaigns, after payment, investors receive tokens – digital “coins”, which most often belong to the ERC 20 standard.

Official protocols designed to make proposals to improve Ethereum are called so, andstands for Ethereum Request for Comments. 20 is the original offer identification number. Technological features for tokens became available as early as 2015. Coins that meet these characteristics are called ERC 20, in fact, they are “smart” contracts that are encrypted in the Ethereum blockchain.

The peculiarity of the standard is a number of requirements that must be met in order to accept the token and its network interaction with other tokens. Assets in the blockchain can represent value, they can be received and sent, like all cryptocurrencies.

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