{"id":1477,"date":"2019-07-02T17:45:17","date_gmt":"2019-07-02T15:45:17","guid":{"rendered":"http:\/\/blog.satt-token.com\/?p=1477"},"modified":"2022-03-25T11:28:22","modified_gmt":"2022-03-25T10:28:22","slug":"erc-20-an-enriching-standard","status":"publish","type":"post","link":"https:\/\/satt-token.com\/blog\/archives\/1477","title":{"rendered":"ERC-20, an enriching standard"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p>You may have heard of ERC-20, whether you\u2018re a newbie or an expert. So, what does it really mean? And where does it come from?<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_32 counter-hierarchy counter-decimal ez-toc-grey\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table des mati\u00e8res<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" style=\"display: none;\"><label for=\"item\" aria-label=\"Table des mati\u00e8res\"><i class=\"ez-toc-glyphicon ez-toc-icon-toggle\"><\/i><\/label><input type=\"checkbox\" id=\"item\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/satt-token.com\/blog\/archives\/1477\/#What_is_ERC-20\" title=\"What is ERC-20?\">What is ERC-20?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/satt-token.com\/blog\/archives\/1477\/#An_empowering_standard\" title=\"An empowering standard\">An empowering standard<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"What_is_ERC-20\"><\/span><span style=\"color: #333399\">What is ERC-20?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p>ERC-20 is a technical standard, more like a protocol that defines specific rules for <a href=\"https:\/\/blog.satt-token.com\/blog\/2018\/07\/30\/what-is-a-smart-contract\/\">smart contracts<\/a> to deploy and exchange a token on the Ethereum blockchain. Therefore, all Ethereum tokens must adhere to them.<br \/>\nERC literally stands for Ethereum Request for Comment and 20 stands for the number of the proposition on Ethereum\u2018s Github account.<br \/>\nThis standard has been suggested by Fabian Vogelsteller on November 19, 2015. By June 14, 2019, there have been 192,871 ERC-20 compatible tokens on Ethereum main network. In fact, unlike what some may think, Ethereum&#8217;s native token, Ether, does not conform to the ERC-20 standard. Ether can be converted to a &#8220;wrapped&#8221; token, known as &#8220;WETH&#8221;. You can find more about SaTT smart contract in this sense on <a href=\"https:\/\/github.com\/Atayen\" target=\"_blank\" rel=\"noopener\">our Github account<\/a>.<\/p>\n<p>ERC-20 is a standard that defines functions and events that a token has to comply with in order to be qualified as ERC-20. It has 6 method-related functions:<\/p>\n<ul>\n<li>totalSupply()<\/li>\n<li>balanceOf(address _owner)<\/li>\n<li>transfer(address _to, uint256 _value)<\/li>\n<li>transferFrom(address _from, address _to, uint256 _value)<\/li>\n<li>approve(address _spender, uint256 _value)<\/li>\n<li>allowance(address _owner, address _spender)<\/li>\n<\/ul>\n<p>It also has 2 events formats:<\/p>\n<ul>\n<li>Transfer(address indexed _from, address indexed _to, uint256 _value)<\/li>\n<li>Approval(address indexed _owner, address indexed _spender, uint256 _value)<\/li>\n<\/ul>\n<h1><span class=\"ez-toc-section\" id=\"An_empowering_standard\"><\/span><span style=\"color: #333399\">An empowering standard<\/span><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p>This standard empowers developers to predict how new tokens will work inside the bigger Ethereum platform. New projects won&#8217;t need to be redone when a new token is released, as long as it follows the ERC-20 rules. At the time of the <a href=\"https:\/\/blog.satt-token.com\/blog\/2018\/07\/30\/what-is-an-initial-coin-offering\/\">ICO<\/a> craze, most of the tokens released through Ethereum ICOs were ERC-20 compliant.<\/p>\n<p>ERC-20 tokens don\u2019t have their dedicated blockchain. They are implemented on Ethereum\u2019s blockchain instead. Yet, there are other blockchains where you can deploy tokens and create smart contracts but Ethereum is the most known of them all.<br \/>\nEthereum can be used to trade digital assets called tokens. They can represent real-world assets (such as property), a voucher etc.<\/p>\n<p>Ethereum handles different digital assets that rely on different technical standards, though the most recognizable is ERC-20.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1491 size-large\" src=\"http:\/\/blog.satt-token.com\/wp-content\/uploads\/2019\/07\/Group-2-1024x858.png\" alt=\"\" width=\"525\" height=\"440\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2019\/07\/Group-2-1024x858.png 1024w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2019\/07\/Group-2-300x251.png 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2019\/07\/Group-2-768x644.png 768w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2019\/07\/Group-2-1536x1287.png 1536w\" sizes=\"auto, (max-width: 525px) 100vw, 525px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>For developers, having an open standard norm enables them to create tokens more easily and to reduce the risk of errors and incompatibility. Also, the tokens are more easily exchangeable, and the implementation of each token becomes much less complex and requires less deep knowledge from developers. Thanks to the standard, wallets supporting Ether accept all ERC-20 tokens. This way, you can store all of your tokens in one <a href=\"https:\/\/blog.satt-token.com\/blog\/2019\/07\/01\/ihave-io\/\">wallet<\/a>!<\/p>\n<p>Now you know how important this standard is in any manipulation with tokens\/cryptocurrencies. Without it, many projects would have been hard to launch.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; You may have heard of ERC-20, whether you\u2018re a newbie or an expert. So, what does it really mean? And where does it come from? What is ERC-20? ERC-20 is a technical standard, more like a protocol that defines [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":1490,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[656,47],"tags":[],"class_list":["post-1477","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-crypto-stories"],"_links":{"self":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/1477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/comments?post=1477"}],"version-history":[{"count":1,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/1477\/revisions"}],"predecessor-version":[{"id":11475,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/1477\/revisions\/11475"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/media\/1490"}],"wp:attachment":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/media?parent=1477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/categories?post=1477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/tags?post=1477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}