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With the advent of ICOs in the digital currency world, the ERC20 token platform has become a regular phenomenon. The key agenda for Ethereum has always been to create an ecosystem of decentralized applications where everything functions together to form the ‘world computer’.
Ethereum is now looking to achieve different things for different people and for this, ERC has established its reputation as the standard open source blockchain for decentralized applications worldwide.
Some of the most popular ERC-20 tokens that always bring something different to the table: Augur (REP), Raiden (RDN), Power Ledger (POWR), TenX (PAY), Basic Attention Token (BAT), VeChain (VEN), ChainLink (LINK), Golem (GNT), Kyber Network (KNC), Ox (ZRX) and many more. As Ethereum grows in influence, these ERC tokens are going to becoming more famous in the coming years.
What Is There In ERC-20 Token Standards?
Coinbase, ETC and the ERC-20 Token Rising
As Ethereum based decentralized application browser by the name of Toshi is supporting Ethereum’s custom ERC-20 tokens and testnets. Toshi is operated by Coinbase which is one of the biggest crypto exchange wallets and brokerage companies worldwide.
After Coinbase’s integration of Ethereum Classic to its platform, the company has announced plans to integrate all ERC-20 tokens and ICO tokens to its platform.
Mass Acceptance of ERC-20 Tokens
Coinbase is a well-funded corporation and the kind of support it provides to ERC-20 tokens will result in a possible mass adoption of ERC-20 tokens ahead of every other cryptocurrency in the market. Already the Toshi team allows users to store their ERC-20 tokens or add custom ERC-20 tokens which are unavailable to the Toshi database.
Benefits of ERC20 Token Creation
The process of token creation is crucial to blockchain projects that require funding. This is because it enables them to develop tokens which can be applied to crowd funding. Once the tokens are out there on sale investors will have a chance to acquire gains while the project continues to be developed on blockchain. The tokens will then be stored and distributed via ERC20 based smart contracts which are a significant part of Ethereum’s blockchain.
Another key benefit of ERC token platform is that the tokens can be built by anyone. This is because the standard is open source which means that it is open to everyone for usage. Definitely, it is imperative to have the technical knowhow which is required to program the tokens and that involves understanding Ethereum and smart contracts which are connected to it.
Henceforth, these are just a few of the things which are possible with this standard. The above-mentioned insights on ERC20 token will make it easier for you to launch your ICO on Ethereum platform and with the right ICO development company at your assistance; you will be able to reap the true potential of launching token on Ethereum platform.
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