Are ERC20 tokens smart contracts?

What is a token smart contract?

26 March 2022 Enpatika.com Genel

A token contract is simply an Ethereum smart contract . “Sending tokens” actually means “calling a method on a smart contract that someone wrote and deployed”. At the end of the day, a token contract is not much more a mapping of addresses to balances, plus some methods to add and subtract from those balances.

26 March 2022 Enpatika.com Genel

Just like other Ethereum tokens, ERC20 tokens are implemented as smart contracts and executed on the Ethereum Virtual Machine (EVM) in a decentralized manner.