An overview of tokens on Ethereum
totalSupply()
, balanceOf(address)
, transfer(address, uint256)
, transferFrom(address, address, uint256)
, approve(address, uint256)
, and allowance(address, address)
. This standardization ensures consistency when interacting with these tokens, irrespective of their specific implementation or use case. For example, a user can easily check their token balance or transfer tokens using the same set of functions, whether they are interacting with a governance token like UNI or a stablecoin like DAI.
Some notable applications of ERC-20 tokens include utility tokens (FIL, BAT, MANA), governance tokens (UNI, AAVE, COMP), and stablecoins (USDC, USDT, DAI).