August 2019
Intermediate to advanced
486 pages
13h 52m
English
Content preview from Mastering Blockchain Programming with Solidity
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The motivation behind the ERC20 standard
ERC20 defines the standard API for token transfers. When all of the tokens that have been created on the Ethereum blockchain follow the same standard APIs, it becomes easy for different web and mobile cryptocurrency wallets to support these tokens. The cryptocurrency exchanges support trading of tokens on their exchange. If all of the tokens support this ERC20 standard, it would be easy for these exchanges to integrate and it would support trading.
Apart from the cryptocurrency wallets and exchanges, it is also easy for a decentralized exchange to support these standard tokens as they would have to call the ERC20 standard APIs from their smart contracts. For example, EtherDelta, IDEX, and KyberNetwork ...