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What Is the Primary Function of the ERC-20 Token Standard?

Defines rules for fungible tokens on Ethereum, ensuring interoperability with wallets and smart contracts via functions like transfer .
Greeks.Live16.11.25

What Is the Primary Function of the ERC-20 Token Standard?

The ERC-20 standard defines a common set of rules for fungible tokens on the Ethereum blockchain. Its primary function is to ensure tokens are interchangeable and easily interact with smart contracts, wallets, and decentralized exchanges.

Key functions include transfer , balanceOf , and approve , which enable basic token operations and interaction with other protocols. This standardization is crucial for interoperability.

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