I'm hearing some buzz around stETH these days and it got me thinking: could stETH actually be classified as an ERC-20 token? You know, ERC-20s are those tokens built on the Ethereum blockchain that adhere to a specific set of standards, allowing for interoperability and ease of use.
Now, stETH, or staked Ethereum, is an interesting beast. It represents staking rewards for Ethereum 2.0 validators. But does that mean it ticks all the boxes for an ERC-20? Or is it more of a derivative or wrapper around the original Ethereum, not quite fitting the ERC-20 mold?
I'm genuinely curious about this. Could you shed some light on whether stETH qualifies as an ERC-20 token or if it's something else entirely? It would be great to get a clear understanding of this, especially given its growing popularity in the crypto space.