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Blockchain & Crypto vocabulary · Coins & Tokens

ERC-20

Meaning in blockchain & crypto, with examples

nounCommon term

In blockchain & crypto, ERC-20 means: The standard set of rules that most fungible tokens on Ethereum follow, so that wallets, exchanges and apps can handle them all in the same way. ERC stands for Ethereum Request for Comments.

In Turkish: ERC-20 token standardı

How it is used

Used as an adjective and a noun: an ERC-20 token, ERC-20 transfers. Exchanges ask users to pick the right network, such as ERC-20, when depositing. NFTs follow other standards, mainly ERC-721 and ERC-1155.

Example sentences

  1. Our token is a standard ERC-20, so it works with any Ethereum wallet.

  2. Make sure you select ERC-20 as the network before you copy the deposit address.

Common collocations

  • ERC-20 token
  • ERC-20 standard
  • ERC-20 transfer
  • ERC-20 network
  • tokenA digital asset created on top of an existing blockchain, usually by a smart contract, rather than on its own network. Tokens can stand for money, voting rights, access to a service or a unique item.
  • EthereumA blockchain launched in 2015 that can run smart contracts and applications, not just payments. Its own currency is called ether (ETH), and it has used proof of stake since 2022.
  • smart contractA program stored on a blockchain that runs automatically when certain conditions are met. Once deployed it usually cannot be changed, and it can hold and move funds without a middleman.
  • wallet addressA string of letters and numbers that shows where crypto can be sent, similar to an account number. On Ethereum, for example, addresses start with 0x.

More terms: Coins & Tokens

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