What Are ERC-20 Tokens

What Are ERC-20 Tokens: Basic Definition

ERC-20 tokens vs BTC

Ethereum Requests For Comments (ERCs) Explained

ERC-20 Tokens, Smart Contracts, and Dapps

What You Can Do With ERC-20 Tokens

How to Buy ERC-20 Tokens

The Biggest ERC-20 Tokens

  • BNB (Binance Coin, originally based on ERC-20)
    Market cap: $2 668 377 499
  • CRO (Crypto.com Coin)
    Market cap: $1 193 825 927
  • USDC (USD Coin)
    Market cap: $706 171 087
  • MKR (Maker)
    Market cap: $329 518 641
  • BAT (Basic Attention Token)
    Market cap: $306 581 32
  • OMG (Omise)
    Market cap: $161 545 232
  • TUSD (TrueUSD)
    Market cap: $137 291 403

ERC-20 Tokens Benefits

  • It establishes clear and easy-to-follow rules for developers who seek to create fungible tokens. Complying with these rules guarantees that no tokens have “special rights” or feature specific behaviors.
  • ERC-20 is essential for smart contracts that have the potential to revolutionize many industries.
  • This standard makes the implementation of fungible tokens easier for developers, as it provides them with a pattern.
  • Increased uniformity = decreased complexity.
  • ERC-20 enhances the liquidity of tokens. The compliant tokens are welcome on many exchanges all over the world.
  • It solves the problem of interoperability between ETH-based tokens.
  • ERC-20 standard makes fundraising easier (though this benefit has a darker side, too). Over 95% of the ICOs use these tokens.

ERC-20 vs Other ETH Token Standards

  • ERC-721 for implementing non-fungible (unique, non-interchangeable) tokens.
  • ERC-223, an improved version of ERC-20 that correct some of its flaws. Also, ERC-223 transactions are much cheaper.
  • ERC-1155 allowing to deal with tokens of different types (fungible, semi-fungible and non-fungible).

Conclusion

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