Oh joy, another Ethereum altcoin.
We get it. Just what the crypto market needs is yet another random altcoin. I bet you’re wondering why we didn’t name this token after a dog, or a moon, or a moon dog. Plus, how long until we use the obligatory emojis???
Let’s talk ERC20 Token
There. Happy? Okay, this brief little collection of words isn’t going to be about the Metaverse At Night Coin (well, token, but MANC was better than MANT so here we are.) This little slice of blog pie is going to explain what an ERC20 token is other than just “some rando coin someone built on the Ethereum Network.”
Allow Investopedia to drop some knowledge…
“ERC20” refers to a scripting standard used within the Ethereum blockchain. This technical standard dictates a number of rules and actions that an Ethereum token or smart contract must follow and steps to be able to implement it.
See, this isn’t some haphazardly cobbled together token. MANC has rules and guidelines to adhere to. Check out this video that virtually spoon feeds the viewer info on ERC20.