What is the ERC 20 standard?

The ERC-20 standard defines a set of rules that developers can follow to create their own tokens on the Ethereum Blockchain. This standard makes it easier for developers to create and deploy tokens on Ethereum, as it provides a common set of interfaces and functions that can be used by different token contracts.

What is ERC 20 fungible token?

The ERC-20 introduces a standard for Fungible Tokens, in other words, they have a property that makes each Token be exactly the same (in type and value) as another Token. For example, an ERC-20 Token acts just like the ETH, meaning that 1 Token is and will always be equal to all the other Tokens.

What is Ethereum Request for comment 20 (ERC-20)?

Ethereum Request for Comment 20 (ERC-20) is the implemented standard for fungible tokens created using the Ethereum blockchain. ERC-20 guides the creation of new tokens on the Ethereum blockchain so that they are interchangeable with other smart contract tokens.

Is ERC20 a constrained cryptocurrency?

Many in the Blockchain development industry believe that ERC20 is constrained in some way, despite the fact that new coins created to its specifications have received considerable adoption. As a result, various alternate token standards have been proposed since the introduction of ERC20.