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Understanding ERC-20 Tokens on Ethereum
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[QUOTE="Suba, post: 336922, member: 3658"] ERC-20 tokens are tokens that run on the Ethereum blockchain, these tokens must meet the standards of three optional regulations such as token name, symbol and decimal. ERC-20 tokens must also be able to meet basic standards such as the number of tokens or total supply, balance of etc. The Ethereum blockchain supports DApps, allowing developers to create new tokens with the ERC-20 standard either as currency, shares or simply as points in loyalty programs, fundraising. Unfortunately, using ERC20 will incur high gas fees, and is also often misused by bad developers to commit fraud. Some well-known ERC20 tokens are Tether (USDT), Maker (MKR), Chainlink (LINK) etc. Many wallet options are available to store ERC20 tokens such as Metamask wallet, Atomic wallet, Trust wallet etc. [/QUOTE]
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Understanding ERC-20 Tokens on Ethereum
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