ERC-20
ERC-20 is a technical standard for fungible tokens on the Ethereum blockchain, defining a common set of rules that all Ethereum-based tokens must follow to ensure interoperability. It specifies functions like transferring tokens, checking balances, and approving third-party spending, enabling seamless integration with wallets, exchanges, and decentralized applications (dApps). This standard has become foundational for token creation, powering thousands of cryptocurrencies and utility tokens in the Ethereum ecosystem.
Developers should learn ERC-20 when building or interacting with Ethereum-based tokens, such as for creating new cryptocurrencies, utility tokens for dApps, or integrating token functionality into smart contracts. It is essential for ensuring compatibility with Ethereum wallets like MetaMask, exchanges like Uniswap, and other dApps, as it standardizes token behavior and reduces development errors. Use cases include launching initial coin offerings (ICOs), developing DeFi protocols, or implementing in-app currencies in blockchain games.