ERC-20

A technical standard used for creating and implementing tokens on the Ethereum blockchain. It defines a set of rules and functions that an Ethereum token must follow, ensuring interoperability with other tokens and decentralized applications (dApps) on the network. ERC-20 tokens can represent a variety of digital assets, such as utility tokens, stablecoins, or even other cryptocurrencies. The standard includes functions for transferring tokens, checking token balances, and approving tokens for use by other parties. Because of its widespread adoption, ERC-20 has become the most common standard for Ethereum-based tokens, facilitating a robust ecosystem of decentralized finance (DeFi) projects, token sales, and blockchain-based services.