ERC20 stands for “Ethereum Requetst For Coment” This technology is an improvement proposed by experts that has just been officially accepted in the Ethereum Network system, and this system has a unique ID code of 20.

Currently, ERC20 technology will be a unified standard for tokens used on the Ethereum Network platform.

Distinguish types of Tokens using ERC20 . technology

You can easily identify what is a regular Token and a Token using ERC20 technology by the following image.

If you notice, Tokens using ERC20 technology will have an additional 0x and these Tokens are all purchased with ETH. These types of Tokens you can store in MyEtherWallet easily and share the same ETH wallet address.

Tokens using ERC20 technology when you want to send someone, there is a small fee for each transaction. However, the processing speed for each transaction is extremely fast that Token types cannot compare.

One point that I really like about ERC20 technology combined with Smart Contracts (smart contracts). This will help you to transact more safely, in case you send Tokens to someone else but the wallet address is wrong, this technology will report an error of the wallet address and you cannot send the Token to others. This is great as it will help you protect your assets as best as possible.

All tokens using ERC20 technology are built on the Blockchain platform of Ethereum Network. The wallet address of ETH is also the address of tokens using the ERC20 platform.

Tokens using ERC20 technology are becoming more and more popular. Statistics at the beginning of 2018 show that most of the tokens issued to the market are used on the ERC20 platform. In the future, this technology will dominate the market and will be the best platform to develop new Tokens.

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According to tapchibitcoin.vn

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