Lykke, a swiss FinTech company building a regulated, blockchain-based global marketplace, have listed many new tokens for 0% fee trading on the Lykke Exchange. In the past two weeks Lykke has added following tokens: SingularityNet Read more…
The Ethereum token standard (ERC20) is used for Ethereum smart contracts. Developed in 2015, ERC20 defines a common list of rules that an Ethereum token has to implement. Giving developers the ability to program how new tokens will function within the Ethereum ecosystem. This token protocol became popular with crowdfunding companies via initial coin offering (ICO).
As of January 2018, there were more than 21,000 ERC20 token contracts. Among the most successful ERC20 token sales are EOS, Sirin Labs, Bancor, Quash, and BANKEX raising over $70 million each. Mercury Protocol’s Global Messaging Token is an example of an application based on ERC20 tokens.
ERC20 tokens must use ‘gas’ to process transactions. Gas can be purchased using ethereum. Transactions with more gas will be prioritized by the blockchain network and processed more quickly.
ERC stands for Ethereum Request for Comments.