Historical retrospective · Ethereum
ERC-20 gave fungible Ethereum tokens a shared interface
EIP-20 defines common token methods and events, allowing wallets, exchanges and contracts to interact with many assets in a consistent way.
The standard reduced the need for each token to invent incompatible transfer and balance functions.
Its broad adoption helped make token issuance and composable applications a visible part of Ethereum’s early growth.
A common interface does not certify an asset’s quality, backing or legal status; it only standardizes contract behavior.
Primary source
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