Ethereum standards are technical specifications that define the behavior of Ethereum, a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
Ethereum standards are designed to ensure interoperability and compatibility among Ethereum-based systems and protocols. They provide a common set of rules and guidelines for developers to follow when building applications on Ethereum, and help to ensure that different Ethereum-based systems can work together seamlessly.
Some examples of Ethereum standards include:
ERC-20: A standard for token contracts that defines a common set of rules for tokens to follow, allowing them to be easily traded and managed on Ethereum.
ERC-721: A standard for non-fungible tokens (NFTs), which represent unique assets that cannot be exchanged for other assets on a one-to-one basis.
ERC-1155: A standard for combining multiple types of tokens in a single contract, allowing for more efficient and flexible token management.
EIP (Ethereum Improvement Proposal): A process for proposing and documenting improvements to Ethereum. EIPs are used to propose changes to Ethereum's core protocol, as well as to define new standards and guidelines for Ethereum-based systems.
Ethereum standards are developed and maintained by the Ethereum community through a collaborative, open-source process. They are an important part of the Ethereum ecosystem, helping to ensure that the platform remains reliable, secure, and scalable.
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