What is Ethereum’s ERC20 Standard?

The ERC20 standard is a set of rules that define how a token should function on the Ethereum blockchain. It is a technical standard used for smart contracts on the Ethereum network, which allows developers to create tokens that can be bought, sold, or traded like other cryptocurrencies. ERC20 tokens are created using smart contracts on the Ethereum platform. A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into…