List of All ERC20 Tokens

In this article, we aim to discover together the key differences between TRC20 and ERC20, explore how tokens interact with smart contracts, and discuss their impact on the broader crypto ecosystem. It’s like having dollar bills; one dollar is interchangeable with any other dollar. They also have standard functions like transfer, balanceOf, and approve, which allow you to send tokens, check your balance, and allow other applications to use your tokens. These functions are defined in the ERC-20 standard, so everyone knows how they work. In conclusion, the ERC-20 token standard has profoundly impacted the cryptocurrency ecosystem, particularly within the Ethereum blockchain. ERC-20 has enabled interoperability, compatibility, and innovation across DApps and tokenized economies by providing a standardized token creation, transfer, and management framework.

Token Standards in Decentralized Finance

These tokens can represent items of value, such as gold, stocks, or property, and they can be exchanged with other users on the Ethereum network. If you ever trade on a crypto exchange, there’s a good chance that you will encounter an Ethereum-based token. The Ethereum network is the second-biggest blockchain after bitcoin, and it is home to thousands of ERC-20 tokens. Such a powerful feature of Ethereum must be handled by a robust standard, right? This standard allows developers to build token applications that are interoperable with other products and services. The TRON network aims to be a faster and more scalable version of the Ethereum network.

Transfer Function

It also serves as a governance token that enables users to participate in protocol governance. ERC-20 tokens can be stored and managed using a wide range of Ethereum wallets, ensuring easy access for users across different platforms and device types. Although not mandatory, these https://ai-robert.com/ three functions may be useful to users and developers alike that may interact with the specific coin. For example, the name and symbol can help identify the token so users don’t accidentally buy or send the wrong one. As the network continues to grow, we can expect to see ERC-20 tokens gain more utility.

Instead, they introduced token standards that govern programming on Ethereum and deliver high compatibility. Outside of crypto exchanges, ERC-20 tokens are often used to represent other assets, like in-game currencies, financial assets, or real estate. In addition, some crypto companies, like Circle, use the ERC-20 standard to issue dollar-valued tokens. ERC-20 was proposed by developer Fabian Vogelsteller in 2015 to address the need for a standard within smart contracts on the Ethereum blockchain. Vogelsteller submitted the proposal via the project’s Github page as an Ethereum Request for Comment (ERC).

This helps to enforce proper permissions, ensure transaction legitimacy, and prevent unauthorized transactions. These functions provide a common structure for tokens so that they can be easily accessed, recognized, reviewed, and used. This reduces the confusion users and application developers would have if every smart contract’s token had different information contained within it. ERC-20 tokens should not be mistaken for ether (ETH), the native cryptocurrency of the Ethereum blockchain.

• The ERC-20 token standard is of utmost importance to the broader Ethereum ecosystem.
• As an ERC20 token, USDC benefits from the security and interoperability of the Ethereum network, making it easily integrated into wallets, exchanges, and other financial applications.
• USDC is another stablecoin tied to the US dollar, USD Coin (USDC) is known for its greater transparency and regulatory compliance than USDT.
• Ethereum Request for Comments (ERCs) were changed to address standardization and documentation for Ethereum’s application layer.
• This standard allows developers to build token applications that are interoperable with other products and services.

ERC-721 introduced the concept of non-fungible tokens (NFTs) with unique identifiers for each token. NFTs support complex ownership structures for use cases like virtual worlds, art, ticketing, collectibles, and more. Additional ERC-20 tokens include Compound (COMP), Basic Attention Token (BAT), Polygon (MATIC), The Sandbox (SAND), Immutable (IMX), Wrapped Ethereum (WETH), and Pepe (PEPE). These examples of ERC-20 tokens represent just a fraction of the diverse ecosystem of Ethereum-based tokens, each serving unique purposes and catering to various use cases within the DeFi ecosystem. WBTC is an ERC-20 token pegged to the value of Bitcoin, allowing users to access Bitcoin liquidity on the Ethereum blockchain. ERC-20 tokens can be easily traded, exchanged, and integrated into various Ethereum-based applications, enhancing usability and interoperability between dApps.

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