Mastering Blockchain Programming with Solidity

ERC20 Token Standard

Ethereum Request for Comment (ERC) has a standard process to initiate improvement proposals and make them standard. ERC20 is a token standard that's used to create the fungible tokens on Ethereum blockchain—just like bitcoin (symbol: BTC) and ether (symbol: ETH) are coins and have economic values. Similarly, by using the ERC20 standard, you can mint as many tokens of a specific type, which also have economic values. This standard allows anyone to easily create their own token on a blockchain.

In this chapter, we are going to look into the ERC20 token standard of the Ethereum blockchain. There are many standards present in Ethereum; however, the most used and popular one is the ERC20 standard. We will understand the API ...