ERC-20
By CoinGecko | Updated on Mar 03, 2020
ERC stands for Ethereum Request for Command, and ERC-20 is one of the most widely used token standards in Ethereum to create fungible, exchangeable tokens.
ERC-20 tokens can easily work with majority of decentralized applications that support the standard. With ERC-20, existing products will not have to worry about accepting tokens that have different standards and this has helped spur development of various decentralized applications within the Ethereum ecosystem.
Most tokens that have been released as a result of initial coin offers (ICOs) are of the ERC-20 standard.
Related Terms
Hyperledger (Hyperledger Foundation)
Hyperledger is an open source collaborative effort to create blockchain technologies hosted by The Linux Foundation since 2016.
Staking
The state of locking-in significant amount of token to participate as a validator of a Proof-of-Stake network.
Genesis Block
It is the first block of data that is processed and validated to form a new blockchain, typically called as 'block 0' or 'block 1'.
Venture Capital
capital (funds) that is invested in a company that needs a substantial pool of funds to initiate.
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