What is: ERC20

ERC20 is short for ‘Ethereum Request for Comments’; the number ’20’ is the proposal ID.

The proposal defines a standard of rules tokens have to meet in order to be accepted as and called ERC20 tokens. The reason for the standard is that these tokens will be utilizing the Ethereum blockchain, thus need to be able to interact with Ethereum ecosystem.

ERC20 tokens are specific to the Ethereum blockchain.

Recommended for you