1. What is ERC20?

Introduction to ERC20 Cryptocurrency

ERC20 is a token standard defined on the Ethereum blockchain. It is a set of rules and protocols for creating and interacting with tokens that comply with this standard. ERC20 tokens can represent any tradable asset, such as currencies, stocks, commodities, or other cryptocurrencies.

Main Features:

1. Standardization and Interoperability: ERC20 tokens can easily be traded, transferred, and stored on the Ethereum network. They follow the same standards, ensuring compatibility between various smart contracts on the Ethereum network.
2. Smart Contracts: ERC20 tokens use smart contracts to define their behavior and attributes, such as total supply, name, symbol, and decimal places. These contracts can customize the token behavior, such as adding specific transfer or lockup functions.
3. Based on the Ethereum Network: ERC20 tokens are digital assets based on the Ethereum network. They leverage Ethereum's smart contract functionality to achieve their functions.
4. Wide Application: ERC20 tokens are widely used in the Ethereum ecosystem. Many startups choose to issue their own tokens based on the ERC20 standard to quickly integrate with the Ethereum ecosystem and build applications and services on their platform.

Using ERC20 Tokens:

To use ERC20 tokens, you need an Ethereum wallet, such as MetaMask or MyEtherWallet. These wallets can communicate with the Ethereum network and manage your tokens.：投资过一系列区块链和加密货币项目，包括一个与ERC20相关的代币项目。

1. As Coinbase's venture capital arm, we have invested in Optimism (OP) and other blockchain projects.

Although these institutions have not directly invested in ERC20 (because ERC20 is a standard), they have invested in projects and tokens based on the ERC20 standard. It is important to note that ERC20 is a widely used standard, and many Ethereum-based projects use this standard to issue their own tokens.

4. How does erc20 work?

How do ERC-20 cryptocurrencies work?

ERC-20 is a token standard on the Ethereum blockchain that defines the rules and functions for creating and deploying tokens. Here is an overview of how it works:

1. Smart contracts: ERC-20 tokens are created by deploying smart contracts on the Ethereum blockchain. These contracts contain the code that defines the token's behavior and attributes.

2. Required functions and events: The ERC-20 standard requires token contracts to implement certain functions and events, including:

3. totalSupply: View the total token supply.

4. balanceOf: View the balance of a specific account.

5. transfer: Transfer tokens.

6. transferFrom: Transfer tokens from one account to another using an approved allowance.

7. • approve: Authorize an account to use a certain amount of tokens.

   • allowance: View the authorized transferable amount.

   • Transfer and Approval events: Triggered during transfer and authorization, respectively.

   • Token Metadata: ERC-20 tokens can contain metadata such as name, symbol, and decimals to describe the token's identity and precision.

   • Token Ownership: ERC-20 tokens are associated with Ethereum addresses, and token balances are tracked and recorded within the token contract.

   • Interchangeability: ERC-20 tokens are fungible, each token is interchangeable and holds the same value.

   • Usage: Users can receive, store, and send ERC-20 tokens through Ethereum-compatible wallets like MetaMask or Trust Wallet.

   In conclusion, ERC-20 tokens operate on the Ethereum blockchain through smart contracts, following specific standards for functionality and events to ensure compatibility and smooth interaction with other contracts and applications.