ERC stands for Ethereum Request for Comment, a technical specification standard for creating tokens on the Ethereum blockchain. These standards ensure interoperability and predictability for digital assets, defining rules for how tokens should behave and interact with wallets and decentralized applications. The most common ERC standards include ERC-20 for fungible tokens and ERC-721 for non-fungible tokens (NFTs).
Context
News concerning ERC standards often relates to the creation of new digital assets, the development of decentralized applications that utilize these tokens, or discussions about tokenomics and governance models. The adoption and adherence to specific ERC standards are crucial for the functionality and widespread acceptance of tokens within the Ethereum ecosystem. Ongoing proposals for new ERC standards aim to address emerging use cases and technical requirements.
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