What is ERC20?

Byblock@001

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:

  1. balanceOf: query the user’s balance.
  2. transfer: transfer money.
  3. transferFrom: transfer from one account to another
  4. approve: authorize a third party to transact the transaction amount.
  5. allowance: queries the amount of authorized third-party operations.
  6. name: token name.
  7. symbol: Token symbol.
  8. supplyTotal: Total amount of tokens release.

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