Ethereum’s token standard used to run fungible tokens on the network.

ERC-20 is the most popular token standard in cryptocurrency and is native to the Ethereum network. The token serves as the framework and standard for the design and implementation of new tokens on Ethereum. These tokens are then used in smart contracts and eventually become useful components of Ethereum’s ecosystem. In effect, the ERC-20 framework is the standardized token that allows several other tokens to interact seamlessly on Ethereum’s network so that users can perform cross-chain transactions without worrying about incompatibility.

There are several popular tokens that use the ERC-20 framework. These include 

, Wrapped Bitcoin (WBTC), ChainLink (LINK), Maker (MKR) and Dogecoin (DOGE), among others.

Ethereum’s standard framework for NFTs (non-fungible tokens) and other digital collectibles.

ERC-721 is the technical token standard that is native to the Ethereum network and useful for the creation and implementation of NFTs (non-fungible tokens) and other digital collectibles. The token standard effectively allows users to interact with the network with regards to the implementation of APIs (application programming interfaces) in smart contracts.

ERC-721 tokens were created in 2018 and have become a widely accepted standard for the creation of NFTs.

Ethereum’s establishment council founded to speed up the adoption of the network’s specifications with regards to enterprises.

Enterprise Ethereum Alliance (EEA) is the first organization founded by the Ethereum initiative to promote the acceptance of its standards worldwide. The EEA consists of a community of enthusiastic blockchain enthusiasts and cryptocurrency innovators who are committed to improving the quality and speed of blockchain-related business models and initiatives.

ERC-20

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