ERC20 Tokens

ERC20 tokens represent a standard for fungible tokens created on the Ethereum blockchain. They have become the backbone of many decentralized applications (dApps) and financial transactions within the Ethereum ecosystem. ERC20 standardizes the functionality of tokens, ensuring compatibility with various services and platforms, including wallets, exchanges, and smart contracts.

These tokens can represent a wide range of assets or utilities, from governance rights and staking mechanisms to virtual goods and currencies. The ERC20 standard provides a set of rules and functions that each token must adhere to, such as how transactions are approved and how users can access their token balance.

Due to their standardized format and widespread adoption, ERC20 tokens have facilitated the growth of the Ethereum network and continue to play a crucial role in the expansion and innovation of decentralized finance (DeFi) and beyond.