Understanding ERC Standards
I got an opportunity to take a closer look at ERC standards, analyze and compare them. I believe that the information below would be helpful for every investor and ICO entrepreneur to understand what exactly ERC standards are. This article sheds light on tokens and explains the features and functions of ERC standards to provide an understanding of what token contracts are and how developers can work with them. ERC stands for Ethereum Request for Comments . It describes the functions and events that an Ethereum token contract has to implement. It is authored by Ethereum community developers in the form of a memorandum describing methods, behaviors , research, or innovations applicable to the working of the Ethereum ecosystem. This is an official protocol for proposing improvements to the Ethereum network . After core developers and community approval, the proposal becomes a standard. The ERC standard defines an interface, which is the name of the functions as well ...