What is ERC20 assets?

Could you please elaborate on the concept of ERC20 assets? Could you explain what ERC20 stands for and what its significance is in the realm of cryptocurrency and finance? Additionally, could you describe the key features and functionalities of ERC20 assets? How do they operate and what are their primary uses within blockchain technology? It would be helpful if you could also mention any potential benefits or drawbacks associated with ERC20 assets for investors and developers alike.