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You're reading from  The Essential Guide to Web3

Product typeBook
Published inNov 2023
PublisherPackt
ISBN-139781801813471
Edition1st Edition
Concepts
Blockchain
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Author (1)
Vijay Krishnan
Vijay Krishnan
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Vijay Krishnan

Vijay Krishnan, an experienced expert in blockchain and Web3, holds the position of head of SysOps for Linea, a Layer 2 blockchain at Consensys. With a rich background in blockchain, he's guided Fortune 100 companies from ideation to product build. With over 50 projects and 300+ use cases to his credit, Vijay has left an indelible mark on the industry. Prior to Consensys, he pioneered the AWS Partner Blockchain ecosystem and led IBM North America's Blockchain Practice. With two decades on Wall Street, he possesses deep financial and tech insights. Vijay, a leader and subject matter expert, empowers clients in DeFi, NFTs, gaming, and the metaverse. Beyond work, he's a mentor, speaker, author, and organic farmer. His knowledge and innovation continue to shape the blockchain and Web3 landscape.
Read more about Vijay Krishnan

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Common token standards in Ethereum

Ethereum, as a platform, supports the creation and use of several types of tokens. Tokens built on Ethereum usually follow specific standards that define a set of rules and functions that make them compatible with existing wallets, exchanges, and dApps. Let’s look at some of the most common Ethereum token standards.

ERC-20

The Ethereum Request for Comments 20 (ERC-20) standard is a widely adopted token standard on the Ethereum network. ERC-20 tokens are fungible, meaning that each token is interchangeable with another of the same type. They follow a predefined set of rules and functions, ensuring compatibility with a wide range of wallets, exchanges, and dApps.

Here are some examples of ERC-20 tokens:

  • Chainlink (LINK): A decentralized oracle network token used to connect smart contracts with off-chain data
  • BAT: A digital advertising token used to reward users for their attention within the Brave browser ecosystem
  • USD...
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The Essential Guide to Web3
Published in: Nov 2023Publisher: PacktISBN-13: 9781801813471
© 2023 Packt Publishing Limited All Rights Reserved

Author (1)

author image
Vijay Krishnan

Vijay Krishnan, an experienced expert in blockchain and Web3, holds the position of head of SysOps for Linea, a Layer 2 blockchain at Consensys. With a rich background in blockchain, he's guided Fortune 100 companies from ideation to product build. With over 50 projects and 300+ use cases to his credit, Vijay has left an indelible mark on the industry. Prior to Consensys, he pioneered the AWS Partner Blockchain ecosystem and led IBM North America's Blockchain Practice. With two decades on Wall Street, he possesses deep financial and tech insights. Vijay, a leader and subject matter expert, empowers clients in DeFi, NFTs, gaming, and the metaverse. Beyond work, he's a mentor, speaker, author, and organic farmer. His knowledge and innovation continue to shape the blockchain and Web3 landscape.
Read more about Vijay Krishnan

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