Getting started with ERC20 Token

By team 1 MIN Share Post  

What is ERC20?

ERC20 is a protocol standard that defines certain rules and standards for issuing tokens on Ethereum’s network. In ‘ERC20’, ERC stands for Ethereum Request For Comments and 20 stands for a unique ID number to distinguish this standard from others.

The Ethereum community created these standards with three optional rules, and six mandatory.

Optional Rules

  • Token Name
  • Symbol
  • Decimal (up to 18)

Mandatory Rules

  • totalSupply
  • balanceOf
  • transfer
  • transferFrom
  • approve
  • allowance

Things needed to get started

Sample ERC20 Contract Code

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