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And I wanted to find some topic on this subject in our society, but nothing like this was found.
So I try to create my own topic.
Don't criticize severely.
Ethereum Request for Comments 20, or ERC20, is an Ethereum Improvement Proposal introduced by Fabian Vogelsteller in late 2015. It’s a standard by which many popular Ethereum smart contracts abide. It effectively allows smart contracts to act very similarly to a conventional cryptocurrency like Bitcoin, or Ethereum itself. In saying this, a token hosted on the Ethereum blockchain can be sent, received, checked of its total supply, and checked for the amount that is available on an individual address. This is analogous to sending and receiving Ether or Bitcoin from a wallet, knowing the total amount of coins in circulation, and knowing a particular wallet’s balance of a coin. A smart contract that follows this standard is called an ERC20 token.
In light of today’s ICO launches, digital token sales during which companies and organizations raise millions of dollars instantly while giving out digital assets, it’s important to recognize the underlying technology that nearly all of these tokens possess: ERC20.
Ethereum Request for Comments 20, or ERC20, is an Ethereum Improvement Proposal introduced by Fabian Vogelsteller in late 2015. It’s a standard by which many popular Ethereum smart contracts abide. It effectively allows smart contracts to act very similarly to a conventional cryptocurrency like Bitcoin, or Ethereum itself. In saying this, a token hosted on the Ethereum blockchain can be sent, received, checked of its total supply, and checked for the amount that is available on an individual address. This is analogous to sending and receiving Ether or Bitcoin from a wallet, knowing the total amount of coins in circulation, and knowing a particular wallet’s balance of a coin. A smart contract that follows this standard is called an ERC20 token.
All of the previously described functionality is able to exist by defining a set of functions that allow a smart contract to emulate a digital token. But how does that work?
ERC20 defines the functions balanceOf , totalSupply , transfer , transferFrom , approve , and allowance . It also has a few optional fields like the token name, symbol, and the number of decimal places with which it will be measured.
***If you want to read more about this technology I pass few links below:
www.investopedia.com/news/what-erc20-and-what-does-it-mean-ethereum/?adtest=mobile-lazy-load-1
https://themerkle.com/what-is-the-erc20-ethereum-token-standard/
https://blockgeeks.com/guides/ethereum-token/
https://ethereum.stackexchange.com/questions/17544/embedding-image-data-in-the-contract-of-erc20-compliant-tokens
https://medium.com/blockchannel/the-anatomy-of-erc20-c9e5c5ff1d02
