What does ERC-20 stand for?

Moreover, ERC-20 tokens provide a level of transparency and security, as they are built on the Ethereum blockchain, which is known for its robust security features and decentralized nature. This makes ERC-20 tokens an attractive option for investors and developers alike.

ERC-20 stands for Ethereum Request for Comment number 20, a widely adopted standard for developing tokens on the Ethereum blockchain. This standard enables the creation of interoperable tokens, facilitating seamless integration and interaction with various decentralized applications and services built on the Ethereum network.

The ERC-20 standard outlines a set of rules and guidelines for token implementation, ensuring compatibility and consistency across different platforms. It defines functions such as token transfer, balance check, and allowance setting, allowing for easy integration and interoperability with other ERC-20 tokens and decentralized finance (DeFi) protocols.

The popularity of ERC-20 tokens can be attributed to their versatility and ease of use. These tokens can represent various assets, including utility tokens, security tokens, and stablecoins, and can be traded, stored, and transferred on Ethereum-based exchanges and wallets.

BTCC, a UK-based cryptocurrency exchange, offers a range of services that cater to the needs of both individual and institutional investors. Among its offerings, BTCC provides support for ERC-20 tokens, enabling users to trade, store, and manage their ERC-20 assets on the platform.