ERC-20

ERC-20 is a standard for tokens operating on the Ethereum blockchain. It defines a set of rules and functions that tokens must follow to be easily supported by wallets, exchanges, and smart contracts. As a result, ERC-20 has become the most widely used format for cryptocurrencies and utility tokens created on Ethereum.

ERC-20 tokens can represent various assets, such as digital currencies, loyalty points, or shares in projects. The standardization makes it easier to integrate them with DeFi (decentralized finance) applications and other Ethereum-based ecosystems. Each ERC-20 token must support basic functions like transferring, checking balances, and approving transactions.