What is ERC20?
A standardized implementation of a smart contract that defines a common set of rules for all ERC20 tokens to interact seamlessly between wallets, exchanges, and smart contracts.
It has the following properties and methods:
- balanceOf: query the user’s balance.
- transfer: transfer money.
- transferFrom: transfer from one account to another
- approve: authorize a third party to transact the transaction amount.
- allowance: queries the amount of authorized third-party operations.
- name: token name.
- symbol: Token symbol.
- supplyTotal: Total amount of tokens release.