Features to required create erc 20
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Features to required create erc 20
- 1. What features are required to create ERC-20 tokens :
- 2. The creation of ERC-20 tokens on the Ethereum blockchain occurs through smart contracts. To meet the requirements of this standard, the contract must include some mandatory functions. Specifically, there are 6 essential features and 3 optional features that developers can include if they need them.
- 3. Compulsory The 6 necessary functions are classified as follows
- 4. ● TotalSupply : Stores the sum of the tokens that exist. It gives an idea of how many tokens of this type have been generated erc20 token creatorin total and are stored in an EOA address.
- 5. ● Balance Of : Returns the current balance of tokens in an account, identified by the owner's address. ● Transfer : It is used to transfer the tokens from the owner's account to other addresses.
- 6. ● Approve : Allows the owner to approve a delegated account (such as a platform) to withdraw tokens from their account and transfer them to another.erc20 token generator Plus, all of this is done without having to wait for prior authorization. This is the most used function in the token exchange market.
- 7. ● TransferFrom : This function goes hand in hand with the approve function . Allows a previously authorized delegate to withdraw funds from the owner's account and transfer them to a third party account.
- 8. ● Allowance : This function returns the exact number of tokens allowed by its owner to be handled by a chosen delegate. It is very useful for subscriptions and recurring payments of any kind.
- 9. Optional There are three optional functions: name , symbol and decimal . What is each one for?
- 10. ● Decimal : The amount by which each token can be divided(up to 18 decimal places). For example, the total units of tokens you will create is 100. If you want your token to be divisible by 10, it means that one person can acquire up to 1/10 of your token . ● Name : Allows you to add your own name to your token, such as that of famous tokens such as Tether or USD Coin. ● Symbol : Set the acronym by which it will be known as ETH, BTC, BNB.
- 11. BlockchainX 7708889555 contact@blockchainx.tech Safe and Secure Blockchain Technology Service Provider https://www.blockchainx.tech/erc20-token-development