The Ethereum price was up 2% at last check, just as the ERC-20 Standard became official. The ERC-20 is a set of rules managing the way in which new tokens are launched on the Ethereum platform, setting in motion a standard by which all Ethereum-based smart contracts will respond. ERC-20 may sound familiar as it’s been circling the wagons for a couple of years now before becoming official on Tuesday.
Now that ERC-20 is officially available on the Ethereum GitHub page, new tokens that are developed on Ethereum should follow this standard. In fact, many ICOs have already adhered to the standard throughout the issuance of digital tokens on Ethereum even before ERC-20 was official.
ERC-20 has identified half a dozen functions that other smart contracts operating on the Ethereum platform will know. These functions surround the various characteristics of a token, such as transfer activity and data access including token balances.
As a result, app developers know early on just how the token will respond and can tailor their projects accordingly, saving time and effort in the process. And digital wallets that support ether now by design similarly support tokens in
Read more ... source: TheEthereumNews
Advertise on the Bitcoin News
Do you like The Bitcoin News ? Thank you for Support us !