An ERC-20 token contract is defined by the contract’s address and the total supply of tokens available to it, but has a number of optional items that are usually provided as well to provide more detail to users. These are the token’s name, its symbol, and the number of decimals.
Read moreWhat is a token smart contract?
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.
Read moreAre ERC20 tokens smart contracts?
Just like other Ethereum tokens, ERC20 tokens are implemented as smart contracts and executed on the Ethereum Virtual Machine (EVM) in a decentralized manner.
Read more