What is an ERC20 token?

An ERC20 token is a standard used for creating and issuing smart contracts on the Ethereum blockchain. Smart contracts can then be used to create smart property or tokenized assets that people can invest in. ERC stands for "Ethereum request for comment," and the ERC20 standard was implemented in 2015.

What is Ethereum ETH & ERC 20?

Ether (ETH) is the native token used by the Ethereum blockchain and network as a payment system for verifying transactions. ERC-20 is the standard for creating smart contract-enabled fungible tokens to be used in the Ethereum ecosystem. What Is an ERC-20 Wallet?

What are ERC-20 compatible wallets?

In turn, wallets and other ERC-20 compatible services use this standard to enable their infrastructure to receive, store, exchange and send ERC-20 tokens. The first thing you need to know is that all Ethereum wallet addresses are compatible with ERC-20 tokens.

What are the most popular utility tokens?

Many popular utility tokens are also ERC20 tokens, a list that includes Basic Attention Token (BAT), Shiba Inu (SHIB), and Crypto.com Coin (CRO). The important thing to know about ERC20 is that it provides a set of standards on the widely-used Ethereum network.