RATE Group | What is the ERC-20 standard? ERC-20 Ethereum tokens
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What is the ERC-20 standard? ERC-20 Ethereum tokens

07 Sep What is the ERC-20 standard? ERC-20 Ethereum tokens

Posted at 15:42h in Ethereum News by

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The ERC-20 token is developed on the basis of Ethereum. The platform consists of a blockchain that stores transactions, and a virtual machine that encodes smart contracts that guarantee their execution. The standard simplifies the creation of projects in
a decentralized registry, optimizes the operation of the network.

General information about a token

Coins based on the Ethereum blockchain are designed to represent a developed project or technology. This financial asset is created with the help of smart contracts. A company conducts ICO and issues a token for sale to investors and initial offering. The
goal is to raise capital to launch and develop the project.

The disposal of tokens, payment of commission for smart contracts are carried out for ETH or BTC, thus increasing the demand for these currencies. An investor buys coins, transferring the cryptocurrency from his/her address to the ICO wallet.

Standard ERC-20 tokens are unified. They play the role of cryptocurrency,…

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