ERC-20 is a technical standard used for smart contracts on the Ethereum blockchain. It defines a set of rules that all Ethereum-based tokens must follow in order to be accepted on the network.
ERC-20 tokens are created and managed through smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. This allows for the creation of customized tokens with specific functions and features.
ERC-20 tokens have become the most common type of token on the Ethereum network, as they are easy to create and widely accepted by exchanges and wallet providers. They are used for a variety of purposes, including crowdfunding, voting, and as a store of value.
Overall, the ERC-20 standard has helped to standardize the creation and management of tokens on the Ethereum blockchain, making it easier for developers to create new tokens and for users to interact with them.
