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