INTRODUCTION:

The ERC-20 standard interface allows any tokens on Ethereum to be interoperable with various applications, from wallets to decentralized exchanges. It has enhanced blockchain stability and enabled developers to build a wide range of decentralized applications (dApps).

WHAT ARE ERC20 TOKENS?

ERC-20(Ethereum Request for Comments-20) Standard Interface is a standard interface that allows a token to be re-used and easily integrated into different applications and platforms in the ethereum ecosystem.

ERC-20 tokens are smart contracts that integrate and implement the ERC-20 standard interface, allowing for interoperability across the Ethereum network. They define how tokens can be transferred, approved, and tracked, facilitating seamless interactions with other Ethereum-based applications.

Key Features of ERC-20 Token

Uniformity:The ERC-20 standard interface token makes sure that all tokens can be used in every decentralised applications and exchanges in the ethereum ecosystem.

Standard Functions:The ERC-20 standard interface token has specific functions that it uses like 'transfer','approve','transferOf','balanceOf' so on and so forth.