But not all smart contracts are tokens , according to Martha Bennett, a principal analyst at Forrester Research. “You can have smart contracts running on Ethereum that trigger an action based on a condition without an ERC-20 or ERC-721 token involved,” she said.
Read moreWhat is ERC20 contract?
An ERC20 token is a standard used for creating and issuing smart contracts on the Ethereum blockchain . Smart contracts can then be used to create smart property or tokenized assets that people can invest in. ERC stands for “Ethereum request for comment,” and the ERC20 standard was implemented in 2015.
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