What is an ERC20 Token | List of ERC-20 Tokens & Wallets

In 2017, ICO Industry was using a ERC20 token which was responsible for several billion dollars and it made cryptocurrencies mainstream.

All ico’s had to be built under the erc20 standard which ensured they would interact with each other seamlessly.

All the accounts and wallets can send, receive and transfer tokens.

The issue was developers wanted to work together and they wanted to study every code for the tokens. It is easy to do for one on one projects but there were 1000s of projects which was an issue.

So the ERC-20 token solves this problem.

ERC 20 token has a set of rules and rules and regulations that create a blueprint for ethereum based tokens. This makes jobs easier for developers to create tokens.

Table of Contents

What is ERC20 Token?

The ERC20 token is a token which works on ethereum platform. ERC Stands for ethereum requests for comments and 20 is just a number assigned to proposals that would create some structure in the wild west of tokens.

ERC 20 is a guideline or a standard for when you want to create your own token.

It defines 6 mandatory functions that your smart contracts should implement and 3 optional ones.

Here is the Optional ones:

Token Name: Give your token a name
Token Symbol: Give your token symbol
Decimals: You can control how vital your token is by specifying how many decimals it should support

The mandatory function is a bit complex.

Here is the list of functions you required for mandatory function.

totalsupply – Defines total number of supplies of tokens.
bacnaceOf – It will return how many tokens to give to an address.
transfer – It transfers from total supply and gives it to the user.
transferFrom – It is used for transferring between two users which have that tokens.
approve – It verifies your contract to get approved.
allowance – This method is almost the exact same but it checks if one user has enough balance to send a certain amount of tokens.

List of erc20 tokens

There are plenty of erc 20 tokens which was created and still people are creating more tokens. There were almost a total of 344,534 tokens.

In this list i will show you top erc 20 tokens.

Tether USD (USDT)
ChainLink Token (LINK)
BNB (BNB)
USD Coin (USDC)
Wrapped BTC (WBTC)
OKB (OKB)
Compound Dai (cDAI)
Wrapped Filecoin (WFIL)

Best ERC 20 Wallet

Here is the list of best erc 20 wallets for dekstop, web, android & iOS. All the wallets shown below is fully secured and well trusted wallets you can use.

MetaMask: It is a web wallet you store, send and manage your ERC20 coins.
MyEtherWallet: It is also a web wallet and it is very easy to use. Now it also has a mobile wallet.
Atomic Wallet: It has desktop wallets as well as mobile apps. This wallet supports all the erc 20 coins.
Enjin Wallet: It works on android and iOS. It supports ENJ, BTC, ETH, LTC, ERC20, ERC721, and ERC1155 tokens.
Jaxx Wallet: It is one of most oldest wallets in the crypto world. It supports all kinds of tokens.

Basics of ERC20

Let’s quickly go over some of the basics: erc20 tokens exist on the ethereum platform and that in itself consists of a blockchain. It is used for storing transactions and running smart contracts on a virtual machine.

With the help of smart contracts you can create a token. These smart contracts help you with managing transactions of each token holder and keeping track of the balance.

To get some token you have to send some ether to the smart contract then it gives you a certain amount of tokens in return.

If you want to create your own token you create your smart contract which creates token transfer and keeps track of people balances.

So let’s see now

How to create erc20 token

I will show you the easiest method to create a erc20 token. It doesn’t require any coding language. If you want to make it from the start check here (It Require coding knowledge).There are multiple sites which make erc20 tokens. I will create a token using Tozex.Simple step to follow:

Step 1: Go to Tozex. Do Sing up /Login.

Step 2: Go to Token Pad Tab.

Step 3: Select Ethereum or Ethereum Testnet whichever suits you. Keep in mind ethereum testnet is free and other is payable.

I will use testnet here.

Step 4: Add metamask to your chrome extension.

Step 5: Select Kavan test network.

Step 6: Select ‘Create Crypto Assets’.

Step 7: Fill the details then click ‘Create’.

Step 8: Then go to my ‘smart contracts’ click on ‘Ethereum’ Tab. There you will see your token which has been created.

Step 9: To manage your crypto token then click on that ‘action’ button. There you can create a token or destroy a token or send your token to anyone, etc.

That’s how you create an erc 20 token.

FAQ

How many erc20 tokens are there ?

There were almost a total of 344,534 erc20 tokens.

Is MetaMask a erc20 wallet?

Yes, It Supports erc20 Tokens.

What is ERC20 Token | List of ERC-20 Tokens & Wallets | How to Create ERC20

What is ERC20 Token?

List of erc20 tokens