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
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One millionth of a bitcoin or 0.000001 of a bitcoin. Microbitcoin is the abbreviation of uBTC and often misunderstood as the fork of Bitcoin.
Mempool
It is the abbreviation of Memory Pool. Set of unconfirmed transactions in a blockchain
Gas Limit
A term refers to the maximum amount of units of gas user's willingness to spend on a transaction on Ethereum blockchain.
Zero Knowledge Proof
Cryptographic proof for 2 parties to verify a value without revealing what the value is.
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