Are you wondering about ERC20 codes and how do they work?have you read articles about plaque and archeology and come aceoss terms like the standard symbol ERC20 And find it difficult to understand the world of encrypted currencies and blockers , so let us explain to you our followers everything about the standard code ERC20 and how it works .
Standard , ERC20 tokens are distinctive symbols designed and used only on the Etherum platform . They follow a list of criteria so they can be shaed , exchanged for other codes , or transferred to a different encrypted currency portfolio . The ethrium community - Ethereum established these criteria with three optional rules , six mandatory .
The optional rules
- The name of the token
- Icon
- Decimal number (up to 18)
The number of symboles to be issued in the project's blockbuster - totalSupply Balance of symbols
the transfer
Approval
making sure
A bit complicated is not it to explain more ! Let's go back
what is Etherium in the original?
Etherium is a decentralized network of many computers with two basic functions .
The first function is block chain where it can record transactions , The second function is a virtual machine that can produce . intelligent contracts Because of these function , Etherium is capable of supporting decentralized applications (DApps)These DApps are bulit one of the current Etherium Block , and are the core technology . In contrast , Etherium gives developers a counter-explorations of computing power in their network , and financial transactions are only the value of the ETH currency . the only common currency between platforms .
Depending on the purpose decentralized DApPP applications can build ERC20 codes to act as currency or share in the company or to earn points in the loyalty program or even proof of ownership , for example the amount of gold against a share of the company ERC20 symbols .
The ERc20 is the universal language used by all Etherium-developed icons . It allows the trading of a token to another.
