Glossary
ERC-20 Meaning: What Does ERC-20 Mean in Crypto?
Definition
Ethereum token standard for fungible tokens
ERC-20 enables interoperability; thousands of tokens like UNI use it, standardizing transfers, approvals, and balances for DeFi ecosystems. Required Functions: totalSupply(): Returns total token supply. balanceOf(): Returns account balance. transfer(): Transfers tokens. approve(): Allows spender allowance. transferFrom(): Transfers from approved account. Gas Costs: Simple transfer: ~65,000 gas; Complex DeFi interaction: 150,000-300,000 gas.