ERC-20 Tokens Explained

What you’ll learn

• •ERC-20 is a shared technical standard defining functions like balance checks, transfers, and spending approvals.
• •Because most fungible Ethereum tokens follow ERC-20, wallets and dApps can support any of them without custom code.
• •'Fungible' means every unit of a token is identical and interchangeable, unlike unique, non-fungible NFTs.
• •Creating an ERC-20 token is technically easy — enabling both real innovation and easy scams.
• •Following the ERC-20 standard says nothing about a project's legitimacy or value.
• •The 'approval' mechanism lets a dApp move your tokens; unlimited, forgotten approvals are a real attack vector worth periodically reviewing and revoking.