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Developers Have Published An Official Description Of The ERC-20 Token Standard

The fourth hard fork of Ethereum

Developers of the standard ERC-20 announced the completion of work on it, and also posted its official description on Github. This has written in Twitter by team member and co-founder of platform Oaken Innovations Hudson Jameson.

Ethereum's ERC-20 token standard has been formalized as an EIP!

This standard will serve as the basis for most tokens produced during the initial coin offerings (ICO). In other words, now all issued tokens based on Ethereum will have to comply with this standard and a description to it.

The standard also ensures that all decentralized applications and smart contracts will operate in Ethereum ecosystem in a predictable manner, while meeting the same security requirements.

The standard ERC-20 gained wide popularity at the end of 2015 and quickly became popular among the organizers of the ICO. It establishes a common set of rules for tokens issued on the basis of Ethereum.