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Cryptocurrency Evolution: ERC-20-Standard tokens for Ethereum-based assets
The world of cryptocurrency has gone through a long way since its inception at the beginning of 2000. Over the years, Bitcoin and other cryptocurrencies have gained popularity, but one of the constant aspects is the need for a normalized frame to ensure interoperability and safety on various blockchain platforms.
Enter the ERC-20 tokens, de facto standard for assets based on Ethereum. The ERC-20 tokens introduced by the Ethereum Foundation in June 2015 revolutionized the way of trading, storage and interaction of digital assets in the Ethereum network.
What is the ERC-20 token?
ERC-20 tokens are a kind of intelligent contract token that can be stored, moved and trade to blockchain ethereum. They are designed to represent fractions of a specific resource or goods, such as cryptocurrency, FIAT currency, and even elements in the game.
ERC-20 tokens are built on the ERC-1155 standard, which provides additional functions and functionality of toxicized assets. This includes the support of many tokens, creating tokens and the ability to manage and trade.
Key features of the tokens ERC-20
What makes the ERC-20 tokens so special? Here are some key features that make them stand out:
- Standardization : ERC-20 tokens are built on standardized frames that ensure interoperability on various blockchain platforms.
- Interoperability : ERC-20 tokens can be traded and moved between different networks based on Ethereum, including Mainnet, TestNet, and even other blockchain platforms such as Binance Smart Chain.
- Security : ERC-20 tokens are designed with built-in security measures to prevent unauthorized access or manipulation.
- Flexibility : ERC-20 tokens can represent a wide range of resources, from cryptocurrency to FIAT currency, elements in the game, and even NFT (not free tokens).
- Development based on community
: ERC-20 tokens are often developed by the communities of programmers, enthusiasts and users who contribute to their development, security and growth.
ERC-20 tokens increase
Over the past few years, the ERC-20 tokens have recorded a significant increase in popularity, flexed with elasticity, interoperability and security. Some noteworthy examples of ERC-20 tokens include:
- Cardano (ADA) : One of the first main tokens based on Ethereum, which obtained a widespread party.
- Stellar (XLM) : Decentralized resource that allows cross -border payments and microtransactions.
- Binance coin (BNB) : Native Binance cryptocurrencies, one of the largest online trade platforms in the world.
Benefits of tokens ERC-20
The use of ERC-20 tokens has brought many benefits of the cryptographic community:
- Increased availability : ERC-20 tokens have made it easier for users to buy, sell and trade in resources in various Ethereum networks.
- improved interoperability : ERC-20 tokens enabled trouble-free trade and transfer between different blockchain platforms.
- Increased security : The use of built-in safety agents in the ERC-20 tokens has helped prevent unauthorized access or manipulation.
Application
ERC-20 tokens are the main milestone in the evolution of cryptocurrency, providing a normalized framework for assets based on Ethereum, which are to be traded, stored and interactions on the web. Thanks to their flexibility, interoperability and safety of the ERC-20 tokens, they have become an important part of the cryptocurrency ecosystem, enabling users to buy, sell and trade digital resources on various blockchain platforms.
As the cryptocurrency landscape evolutions, it will be interesting to see how ERC-20 tokens adapt and grow in response to emerging cases and technologies.