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Explain the advantages of ERC20 tokens in crypto?
Explain the advantages of ERC20 tokens in crypto?
Answer: Features and benefits of ERC20 token
ERC stands for Ethereum Request for Comments and the 20 indicate what the token is capable of doing, how it will interact with smart contracts and other dapps - the guide above explains how different types of these tokens are compared to each other.
ERC-20 is the most popular of the Ethereum token standards - such a token can be used within the network and by other applications, like decentralized exchanges and wallets. In order to create an ERC-20 token there are a number of technical functions, such as total supply, transfer, etc. There are currently around 364,000 ERC-20 tokens in existence: Understanding Ethereum Tokens - ERC-20
The most popular examples of ERC-20 tokens are Binance Coin (BNB) with a market cap of $39 billion, Tether (USDT) with a market cap of $35 billion, and Chainlink (LINK) with a market cap of $10 billion.
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