An ERC20 token is a standard for creating fungible tokens on the Ethereum blockchain. It defines common rules like transfers, balances, and approvals, making tokens compatible with wallets, exchanges, and DeFi platforms. Because of this standardization, ERC20 token development is widely used for utility tokens, governance tokens, and fundraising projects in the Web3 ecosystem.
Sarah Carter
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What is an ERC20 token, and why is it widely used?
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