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README.md |
Token standards
- ERC stands for Ethereum request for comments.
- These are technical documents written by Ethereum developers for Ethereum community.
- Each such document contains a set of rules required to implement tokens for the Ethereum ecosystem.
- You can say ERC is a specific type of EIP.
ERC20
- In the case of ERC20, a transaction sending ether to an address changes the state of an address. A transaction transferring a token to an address only changes the state of the token contract, not the state of the recipient address.