ERC-20
ERC-20 is the widely used Ethereum standard that defines a common interface for fungible tokens.
✦ Key Insight
Standardization allows wallets, DEXs, lending protocols, and other applications to support many tokens without inventing a completely different integration for each one.
✕ Common Misconceptions
“ERC-20” does not mean a token is safe, legitimate, or backed by anything. It only describes a technical interface.
Detailed Explanation
In Practice
Dig Deeper
Smart Contract
A smart contract is blockchain-deployed code that can hold state and execute predefined rules when called.
Token Approval
Permission you grant a smart contract to move a specific token from your wallet on your behalf.
Contract Verification
Contract verification demonstrates that published smart-contract source code compiles to bytecode corresponding to the code deployed at a blockchain address.
Mint Function
A mint function creates new units of a token and increases its circulating or total supply according to the token's rules.
Token Standard
A token standard is a technical specification defining common rules and interfaces for how a class of tokens behaves.