ERC-20 is a technical standard that defines a set of rules for creating smart contracts on the Ethereum blockchain. The ERC-20 standard is used to create tokens that are compatible with the Ethereum network, and it has become a widely-adopted standard for creating and issuing tokens on Ethereum.
ERC-20 defines a set of functions and events that must be implemented by all ERC-20 tokens. These functions and events include things like transferring tokens, checking the balance of a token holder, and approving the transfer of tokens by another party.
ERC-20 tokens are often used to represent various assets, such as utility tokens, security tokens, and non-fungible tokens. They are also used as a means of fundraising, as companies and projects can issue ERC-20 tokens through an initial coin offering (ICO) as a way to raise capital.
The ERC-20 standard has become the de facto standard for creating and issuing tokens on Ethereum, and it has played a significant role in the growth and development of the Ethereum ecosystem.
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