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What are ERC20 Tokens?

  • Thread starter Thread starter Shivay
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Shivay

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Its been two years since i am involved in the cryptocurrencies.
I know about all the main coins and some of the tokens too.
What are these tokens so called " ERC20" ? I know that it is something related with the etherium train.
What are these coins , name some of them and should i buy them?

Let's start the discussion
 
Shivay said:
Its been two years since i am involved in the cryptocurrencies.
I know about all the main coins and some of the tokens too.
What are these tokens so called " ERC20" ? I know that it is something related with the etherium train.
What are these coins , name some of them and should i buy them?

Let's start the discussion
Click to expand...
ERC token are tokens on the Ethereum blockchain, each blockchain has tokens or coins that do transactions on them, to identify them, the initials of the blockchain they transact on is attached to them.

ERC token operator on Ethereum blockchain and need Ethereum to be moved from one wallet to another.
 
Shivay said:
Its been two years since i am involved in the cryptocurrencies.
I know about all the main coins and some of the tokens too.
What are these tokens so called " ERC20" ? I know that it is something related with the etherium train.
What are these coins , name some of them and should i buy them?

Let's start the discussion
Click to expand...
Honestly speaking, as much as I have been into cryptocurrency and other stuff like this for some years, I am yet to understand all these ERC2.0 and ERC1.0 whatever. Please is there any website to learn about it or anyone here to explain to me what they stand for and how to identify them?
 
ERC-20 is a protocol standard that characterizes certain principles and norms for giving token's in Ethereum Network. A big motivator for ERC Ethereum Request For COmments and 20 represents a remarkable ID number to recognize this norm from others. As we have HTTP convention for web, we have a standard convention for tokens to be given on Ethereum that is ERC - 20.
 
ERC are actually tokens that are virtually based on Ethereum blockchain technology. There are several of the that I can't mention them right now, getting these tokens can be so profitable for anyone that want to invest into them.
 
Shivay said:
Its been two years since i am involved in the cryptocurrencies.
I know about all the main coins and some of the tokens too.
What are these tokens so called " ERC20" ? I know that it is something related with the etherium train.
What are these coins , name some of them and should i buy them?

Let's start the discussion
Click to expand...
Just as someone explained, the medium at which your transaction is being successful is determine by validators and you have some fees to pay to then to enable successful transaction, this fees are erc20 token u mentioned.
 
ERC20 are the tokens developed on Ethereum Blockchain, these tokens are the initial projects for crypto currency development. However, you must know not every ERC20 tokens are legit.
 
I always understand it to be an ethereum network. The erc20 is always characterized by higher transaction fee , that is why most cryptocurrency traders and investors avoid carrying out transaction with them.
 
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