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What is ERC20? AltCoins & AltTokens explained

If you pay attention to new coin launches and cryptocurrency news, you may often hear the term “ERC20” to describe someone’s hot new coin launching on Ethereum. What do they mean by this?

Put simply, ERC20 is a standardization that requires a token to implement certain functions so that it can be easily used in a variety of locations. ERC20 tokens are required to provide easy access to…