ERC-20 stands for "Ethereum Request for Comment 20," and it is a technical standard used for smart contracts on the Ethereum Virtual Machine EVM. These tokens are commonly referred to as "ERC-20 tokens."
ERC-20 tokens are fungible tokens, meaning they can be exchanged on a one-to-one basis and are interchangeable with other tokens of the same type. Another example of this is 1 BTC is the same as another of the 19,450,143.75 in circulation at the time of this article, therefore being fungible as a 1 to 1 value, 1 BTC is equal to 1 BTC, 1 US Dollar is equal to 1 US Dollar, etc. They have become the most widely used token standard for creating and distributing tokens on the Ethereum blockchain.
For any additional questions, please view our other knowledge base articles or contact a support team member via the chat button. Examples are for illustrative purposes only.