What does erc-20 mean?

ERC-20 is an Ethereum standard for creating and using tokens with the following properties: Standardized interface for token interaction Name, symbol, decimal places and total supply properties Transfer and approval functions for tokens Coin transfer events notify token transfers and other state changes

ERC-20 Introduction

ERC-20 is a technical standard for the Ethereum blockchain that defines the creation and Rules for using tokens.

Detailed explanation:

• Standardized interface: The ERC-20 standard defines a set of functions and events to provide a standardized interface for Ethereum tokens. This allows different tokens and applications to interact, ensuring interoperability and composability.
• Token Properties: ERC-20 tokens have several key properties, including name, symbol, decimal places, and total supply. These properties allow the token to be easily identified and used in wallets, exchanges, and applications.
• Transfers and Approvals: The ERC-20 standard defines transfer and approval functions for sending and receiving tokens between accounts. It also allows users to grant approval to third-party applications to transfer tokens on their behalf.
• Events: The ERC-20 standard triggers several events such as Transfer, Approval and TransferFrom. These events notify applications of token transfers and other state changes.

• Advantages: The ERC-20 standard offers many benefits, including:

  • Easy to Implement: It provides a clear framework that allows developers to easily create and deploy tokens.
  • Interoperability: It allows different tokens and applications to interact seamlessly.
  • Liquidity: It facilitates the easy movement of tokens between exchanges and markets.

Conclusion:

ERC-20 is the key technical standard for the creation and use of tokens on the Ethereum network. It defines a standardized set of rules and properties that promote interoperability, composability, and liquidity of tokens.

Ethereum (ETH) Current Price: $3168

Trading Volume: $19.4 Billion
Market Cap: $3.8 Trillion

Latest Changes:

ETH Price in the last 24 hours It fell by 7.86%. This decline may be due to:

• An overall correction in the cryptocurrency market
• Macroeconomic uncertainty
• Increased supply of ETH

Future price action:

In the short term, ETH prices are likely to continue to fluctuate. However, the market is generally bullish on Ethereum in the long term due to its strong fundamentals and growing use cases.

Advice:

Before considering any investment decision, it is important to do research on the cryptocurrency market and understand the risks. It is especially important for investors with low risk tolerance to be cautious when investing in ETH or other cryptocurrencies.

Short-term trend prediction:

In the near future, the price of ETH may fluctuate between $3000 and $3500.

Indicator:

• Price: 3168 USD
• Trading volume: 19.4 billion USD
• Market cap: 3.8 trillion USD
• Flow: 120 million
• Maximum supply: Unlimited
• Total supply: 1.20 Billion

The above is the detailed content of What does erc-20 mean?. For more information, please follow other related articles on the PHP Chinese website!