ERC-20 (Ethereum Network) is the primary standard for creating and managing tokens on the Ethereum Blockchain and is one of the most widely used standards in the crypto industry. Key highlights:
- Serves as the original standard for token creation on Ethereum
- Supports a wide range of applications such as DeFi, Stablecoins, NFTs, and Utility Tokens
- Defines essential Smart Contract functions, including transfer, approve, and balance Of
- Widely adopted and serves as the blueprint for other standards (e.g., TRC-20 on TRON)
- Transaction fees (Gas Fees) can be high, especially during network congestion