ERC-20 Beginner's Guide
ERC-20 is a technical standard for fungible tokens on Ethereum, providing common rules for token contracts and making it easier for wallets, applications, and trading platforms to support different tokens consistently.
ERC-20 What is it
ERC-20 is a technical standard for creating and managing fungible tokens on the Ethereum blockchain. It is not an independent piece of software or code itself, but a specification implemented by developers when issuing tokens. The standard was proposed as 2015 and later officially became EIP-20。
How Common Rules Work
ERC-20 tokens are issued by smart contracts deployed on Ethereum. The standard specifies a set of basic functions and rules that contracts should provide for handling transfers between addresses and making data such as the total supply, account balances, token name, and symbol available, allowing applications to interact with different tokens in a more consistent manner.
Compatibility and WETH
Common rules reduce the difficulty of issuing tokens and of integrating tokens into wallets, decentralized applications, and trading platforms, but individual tokens may still use different specific implementations. Ethereum's native asset ETH predates the standard and is not natively compatible with ERC-20；WETH and is therefore represented on a one-to-one basis by ETH, making it easier to integrate with applications that require ERC-20 format.
Original Tutorial
https://www.binance.com/en/academy/glossary/erc-20
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