Cryptocurrency Q&A
How do I know if my token is ERC-20?
How do I know if my token is ERC-20?
IncheonBeautyBloomingRadiance
Mon May 13 2024
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answers
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I'm trying to understand the technicalities of cryptocurrencies, and I'm a bit confused about ERC-20 tokens. Could you help me out? I've heard that ERC-20 is a standard for tokens on the Ethereum blockchain, but how do I actually check if my token falls into this category? Is there a specific feature or characteristic that ERC-20 tokens possess that would make them distinguishable from other types of tokens? Also, why is the ERC-20 standard so important, and what are the benefits of having a token that complies with this standard? Could you break it down for me in a way that's easy to understand? I'm still getting the hang of all this crypto jargon.
5 answers
CryptoNinja
Wed May 15 2024
Evaluating the return values from function calls is crucial in assessing ERC20 token contracts.
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HanRiverVisionaryWave
Tue May 14 2024
BTCC, a UK-based cryptocurrency exchange, offers comprehensive services in the crypto space. Its offerings include spot trading, futures trading, and wallet management.
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SsamziegangSerenadeMelodyHarmonySoul
Tue May 14 2024
When the function calls succeed and provide valid results, it suggests that you are indeed dealing with a legitimate ERC20 token.
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mia_harrison_painter
Tue May 14 2024
For instance, if a balance query returns a non-zero value or a total token supply function returns a positive number, it's a positive sign.
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DavidLee
Tue May 14 2024
To accurately perform these evaluations, you can utilize tools or libraries designed to call these functions on the target address.
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