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EIP-20: ERC-20 Token Standard

EIP-20 defines a standard interface for fungible tokens on the Ethereum network. Before this standardization, token development lacked interoperability, complic

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Abstract

EIP-20 defines a standard interface for fungible tokens on the Ethereum network. Before this standardization, token development lacked interoperability, complicating integration with decentralized exchanges and wallets. By mandating a uniform set of functions and events, the ERC-20 standard ensures that any token adhering to the specification can interact seamlessly with dApps, contracts, and wallets across the ecosystem. This standardization was a pivotal catalyst for the Initial Coin Offering (ICO) era and the broad expansion of decentralized finance (DeFi), as it allowed developers to issue new assets that were immediately compatible with existing infrastructure without requiring custom code integration for every new project. Authors: Fabian Vogelsteller, Vitalik Buterin Publication: Ethereum Improvement Proposals Publication date: 2015-01-01

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Key findings

  • Established a universal interface for fungible token implementation.
  • Enabled interoperability between various tokens and DeFi protocols.
  • Standardized token transfers, approvals, and balance queries.
  • Simplified the deployment and integration of new digital assets.

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Citation

Fabian Vogelsteller, Vitalik Buterin (2015). EIP-20: ERC-20 Token Standard. Ethereum Improvement Proposals. https://eips.ethereum.org/EIPS/eip-20
Canonical knowledge ID: research:eip-20-erc-20-token-standard