ERC-20 is a technical standard for fungible tokens on the Ethereum blockchain. It defines a set of rules that all ERC-20 tokens must follow, allowing them to be used interchangeably with other tokens and integrated into various applications. This standard has been instrumental in the proliferation of digital assets and decentralized applications on the Ethereum network.
Context
The ERC-20 standard remains a foundational element in the Ethereum ecosystem, with continuous discussions revolving around its security implications and interoperability with other blockchain standards. News frequently covers new token launches adhering to ERC-20, as well as potential upgrades or alternative standards aiming to address scalability and efficiency concerns. The widespread adoption of ERC-20 underpins much of the activity seen in decentralized finance and non-fungible token (NFT) markets.
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