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Tokens that can only be used on the Ethereum network.

What is ERC-20?

The Ethereum blockchain powers ERC-20 tokens. They can be bought and sold for fiat currency and other cryptocurrencies.

A dedicated Ethereum wallet can be used to store these assets, which typically have a fixed supply. During the initial coin offering (ICO) boom of 2017 and 2018, a wide variety of ERC-20 tokens were created. Decentralized applications, or DApps, are built on top of them.

Tokens in the ERC-20 standard are fungible, which means they can be easily exchanged. The ERC-721 standard is commonly used to describe nonfungible tokens, which means that each of these tokens is distinct from the others.

One of the reasons why ERC-20 tokens have become so popular is because they are so versatile. These assets often need to be launched on an exchange where they can be easily traded in order to succeed and gain a wider audience.

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