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.
- Token Name
- Decimal (up to 18)
Things needed to get started
- MetaMask or www.myetherwallet.com
- Remix IDE (http://remix.ethereum.org)
- Ropsten Testnet
- Get some test Ether (https://faucet.ropsten.be)