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ERC-20 Token

What are ERC-20 Tokens?

ERC-20 tokens are those digital currencies that are used in the Ethereum network. ERC-20 is (so far) a kind of gold standard for the development of tokens within the ETH blockchain. The so-called smart contracts serve as the basis for settling the currencies.

ERC-20 describes an official Ethereum standard that was published by Fabian Vogelsteller and Vitalik Buterin at the end of 2015. This has made the creation of cryptocurrencies much easier, so that the number has almost exploded. However, ERC20 tokens are not to be confused with coins, which have their own blockchain.