All ERC 20 Tokens

“Ethereum Request for Comment” else known as ERC-20 tokens technically refer to the standard imposed on projects that are looking to be part of the Ethereum blockchain through smart contracts. In simple words, the ERC-20 empowers a consistent set of rules overseeing how tokens are executed on the network.

This uniformity need has derived from the performance risks that the colossal number of DApps executed on Ethereum expose to the network. Having stable standards translates into time optimization and effectiveness. These are noticed once a smart contract creates a token. In order to trade a token with another, the system imposes these mandatory functions:

  • totalSupply – total number of ERC-20 tokens created
  • balanceOf – tokens of one account
  • transfer – the token number that can be transferred
  • transferFrom – where the tokens are coming from
  • approve – validates the integrity
  • allowance – validates the user has sufficient tokens

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