From issuing uniform tokens serving as in-app currency, to producing unique ones backed by physical assets, there’s a great deal of design flexibility.
Token functionality provides innovators with a vast playground for experimenting with applications on the cutting edge of finance and technology. The most prominent of the technical standards that allow the creation of tokens on Ethereum is called ERC-20 – and that’s why the tokens are popularly known as ERC-20 tokens.
These can include how many to issue, how to issue them, whether they’re divisible, whether each is fungible, and many others. The rules governing them are set out in smart contracts, allowing developers to set specific parameters regarding their tokens. A large part of Ethereum’s appeal is the ability for users to create their own assets on-chain, which can be stored and transferred like ether.
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