What is the ERC-20 Token Standard?

The ERC-20 token standard allows developers to create fungible tokens (i.e., that can be exchanged for one another) with smart contracts. This standard has become a popular way to create tokens on the Ethereum blockchain, leading to the creation of a wide variety of digital assets for different purposes. 1

Who can use token generator?

Anyone can use Token Generator as per their needs. Token Generator's purpose is to make people able to tokenize their ideas without coding. Smart contracts' source code is verified and well tested and continuously updated to reduce risk of bugs and introduce language optimizations. Anyway the purchase of tokens involves a high degree of risk.

What are fungible tokens?

One such proposal is a standard for fungible tokens: ERC-20. Introduced in 2015, ERC-20 (also referred to as EIP-20) is the first and most popular token standard in Ethereum. The ERC-20 token standard allows developers to create fungible tokens (i.e., that can be exchanged for one another) with smart contracts.

Why is the ERC 20 standard important?

It enables to creation of fungible tokens, which are interchangeable with one another — contrary to non-fungible tokens (NFTs), which are unique and non-interchangeable. The ERC-20 standard is critical because it provides a common interface for tokens, reducing confusion and ensuring compatibility between various tokens in the Ethereum ecosystem.