What is an ERC-20 token

ERC-20 tokens explained

What is the meaning of the ERC-20 name?

What was ERC-20 invented for?

  • Utility tokens are the most popular type of token and provide users with access to a company’s products or services. In other words, this type of token is not made for investment.
  • Security tokens are quite similar to traditional “securities”, they are considered as investments and intended to bring some profit to its holders. These tokens are considered securities and are therefore subject to federal securities-related regulations.

Pros and Сons

  • Low capacity;
  • Low-speed transactions;
  • Automatic contract execution;
  • Easy deployment and some more.
  • The ability of quick ICO launch;
  • Tokens standardization;
  • Multifunctionality;
  • Popular wallets integration and etc.

Where to store ERC-20 tokens?

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
SimpleSwap.io

SimpleSwap.io

145 Followers

SimpleSwap is an instant easy-to-use crypto exchange free from sign-up with over 600 cryptocurrencies to swap, buy and sell.