Create your own ERC20 Standard Token for FREE Create your own ERC20 Standard Token for FREE

To be able to transfer 1.5 GLD, decimals must be at least 1, since that number has a single decimal place. On the API reference you’ll find detailed information on their properties and usage. If you want to create an ERC20 token the easieast solution is to do it automatically with our Token Maker.

WBTC’s primary function is to allow users to engage with Ethereum-based DeFi protocols and applications while maintaining exposure to Bitcoin. Wrapped Bitcoin holders can lend, borrow, and provide liquidity on Ethereum platforms without converting their BTC to ETH. A token contract which creates new tokens SHOULD trigger a Transfer event with the _from address set to 0x0 when tokens are created. The ERC-20 standard has seeped into almost every corner of the crypto ecosystem.

Recognizing the need for a unified token standard, Fabian Vogelsteller, a developer in the Ethereum community, proposed the ERC-20 standard in late 2015. ERC-20 stands for “Ethereum Request for Comments 20,” following the Ethereum Improvement Proposal (EIP) process for proposing changes and enhancements to the Ethereum protocol. Please note that the availability of the products and services on the Crypto.com App is subject to jurisdictional limitations. Crypto.com may not offer certain products, features and/or services on the Crypto.com App in certain jurisdictions due to potential or actual regulatory restrictions.

Some tokens will have a “generatedBy” method in Smart Contract’s ABIs returning link to this page. Your Token will be fully compliant with the ERC20 Standard and you can use it without issues. You can remove it by choosing an advanced Token type before deployment.

Crypto Exchanges with the Lowest Fees

DEXs rely on the “balanceOf” function to verify token ownership and facilitate swaps and trades effectively. Moreover, smart contracts leverage the “balanceOf” function to enforce token-based functionalities like staking, voting, or reward distribution based on users’ token balances. Of the mandatory and optional functions that the ERC-20 proposal outlined, the “transfer” function is the most foundational. This function is embedded in Ethereum smart contracts to enable direct token transfers from a sender’s address to a specified Ethereum address. Additionally, this ensures that tokens adhering to the same standard can integrate seamlessly with wallets, exchanges, and third-party tools supporting the designated protocol. The original token standard of Ethereum, ERC-20 has played an integral role in the growth of blockchain projects — not only for the Ethereum network, but the entire crypto ecosystem.

Ethereum: More Than Just Cryptocurrency

Henry is an expert editor with a deep interest in cryptocurrencies, business, marketing, and technology. He has been involved in the crypto space since 2015 and has contributed articles and newsletters to numerous publications, including Benzinga, Fastblocks, Blockster, and more. Choosing the right ERC-20 token to invest in requires thorough research into the project’s fundamentals. Examine the crypto’s real-world utility, token distribution, developer engagement, and security track record.

Can I transfer TRC20 to ERC20?

ERC-20 tokens exist on the Turing-complete Ethereum Virtual Machine (EVM). The EVM is built with smart contract functionality, which gives these tokens properties and behaviors. This smart contract prevents parties from acting in bad faith because asset transfers are completed automatically, outside the control of the transactions, once they agree to the transaction. Click here to contact us if you have any questions or have a custom requirement and need to build or deploy a smart contract of any type for any blockchain. Testnet ETH is used to pay for transactions on World Chain Sepolia. Testnet Native and LINK are available at faucets.chain.link/worldchain-testnet.

• Based on its latest roadmap, BNB aims to reduce transaction latency across the blockchain while maintaining high throughput.
• Metamask and etherscan.io are very different products, yet both are compatible with ERC-20s due to the underlying, standardized framework.
• Tokens that each possess a unique value and act as verifiably unique digital objects that cannot interchange with each other like ERC20 tokens.
• When a contract is launched, developers distribute the supply according to their plans and roadmap.

Lenders earn interest by depositing digital assets into specially created liquidity pools, while borrowers can then use these pools to take out loans using their crypto as collateral. Now, there are several types of EIPs for different categories of improvements and additions. Since its launch nearly a Crypto Bull Run decade ago, the ERC-20 token standard powers much of what we use today in DeFi, Web3 platforms, crypto gaming, and decentralized governance.