What does ERC stand for in the context of cryptocurrencies?

3 answers

• Dec 16, 2021 · 3 years ago
  ERC stands for Ethereum Request for Comments. It is a protocol standard that defines a set of rules and guidelines for creating tokens on the Ethereum blockchain. ERC tokens are used for various purposes such as crowdfunding, voting, and asset management. The most well-known ERC token is probably ERC-20, which is used for creating fungible tokens on the Ethereum network.
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• Dec 16, 2021 · 3 years ago
  ERC stands for Ethereum Request for Comments. It's like a blueprint or a template for creating tokens on the Ethereum blockchain. It provides a common set of rules and guidelines that developers can follow to ensure compatibility and interoperability of their tokens. This standardization has greatly contributed to the growth and adoption of Ethereum as a platform for token creation and smart contracts.
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• Dec 16, 2021 · 3 years ago
  ERC, short for Ethereum Request for Comments, is a widely used protocol standard in the world of cryptocurrencies. It was introduced by Ethereum to define a set of rules and guidelines for creating tokens on its blockchain. ERC tokens have become the backbone of the decentralized finance (DeFi) ecosystem, enabling various financial applications such as lending, borrowing, and decentralized exchanges. Many popular tokens, including stablecoins like USDT and DAI, are based on the ERC standard.
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