ERC20

ERC20 is a technical standard used for creating and managing tokens on the Ethereum blockchain. It ensures that different tokens can work together seamlessly by defining a common set of rules for how tokens are transferred, how users can check their balances, and how tokens are approved for spending. Think of ERC20 tokens as digital assets or currencies that follow these shared guidelines, making them compatible with various wallets, exchanges, and other blockchain applications within the Ethereum ecosystem. This standard simplifies the development and integration of new tokens, promoting interoperability and trust.