[Updated 9.2023]

ERC20 is a technical standard for creating tokens on the Ethereum blockchain. It defines a set of rules that all ERC20 tokens must follow, which makes them compatible with each other and with Ethereum wallets and exchanges.

Imagine that you want to create a new type of digital asset, such as a token that represents ownership of a share in a company. You could create this token on the Ethereum blockchain using the ERC20 standard.

To do this, you would write a smart contract that implements the ERC20 functions. These functions allow users to transfer tokens to each other, check their balance, and approve other users to spend their tokens on their behalf.

Once you have deployed your ERC20 token contract, you can start creating and distributing tokens. Anyone with an Ethereum address can then receive and send your tokens.

ERC20 tokens are very popular because they are easy to create and use. They are also compatible with a wide range of Ethereum wallets and exchanges.

EDCOIN (EDC) is a utility token for the EDCOIN eco-system and it is an ERC-20 token built on Ethereum. The contract address for EDC can be viewed here: https://edcoin.freshdesk.com/a/solutions/articles/82000904806