• cherryfie
  • ILove Crypto

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#Dappedia: What do ERCs do? Breaking ERCs down into manageable chunks.

A simple example of a token using the ERC-20 can be seen in a popular dapp called Decentraland. In Decentraland, users can visit Genesis city, a virtual world where users can use the in-platform currency MANA to buy plots of land, pay for experiences, or trade NFTs (more about them later). ERC-20 essentially allows developers of dapps to apply their new token while giving them a monetary value. However, ERC-20 tokens need to respect clear guidelines for how the token can behave on the Ethereum network. Since most tokens adhere to the ERC-20 rules, dapp users can store these tokens in most wallets.

If you want to know more about token-related functions on the Ethereum Network just read this article http://bit.ly/2P5TftX and become more familiar with new ERCs. And visit our website Dapp.com and telegram channel https://t.me/dapp_com for more updates.