The ERC20 Token Standard

Ethereum offers a standardized method for creating new tokens in its Blockchain called the ERC-20 protocol. ERC-20 is not some line of code, software or technology. On the contrary, these are the guidelines that facilitate the integration of several currencies.

Before the ERC-20, each new cryptocurrency created its account balance verification system and initiated transfers. These methods included different functions and arguments that are not necessarily compatible with other systems. The ERC-20 streams have the same functions, with the same names, having the same arguments. They use a standard set of rules and guidelines that ensure that both monetary systems can relate to each other. Since the year 2015, developers have adopted mainly the ERC-20 standard, but then Ethereum has not imposed its use. In September 2017 Ethereum formalized the protocol, which means that all signs in the Ethereum Blockchain must comply with the standard. Creating an ERC-20 compliant cryptocurrency in Ethereum implies that the new streams have immediate interoperability in the Ethereum Blockchain.

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