ERC-20 VS XRC-20 What Is the Best Blockchain Token Standard?

  • Processing transactions
  • Acting as a store of value
  • Buying assets on an online platform
  • Voting on a decentralized application (dApp)
  • Crowdfunding and raising money
  • The token’s total supply
  • The process of making and destroying new tokens
  • The token’s transaction processes, etc.
  1. totalSupply: A feature that shows the total supply of the ERC20 token
  2. balanceOf: This feature shows the number of tokens held in a specific wallet
  3. Transfer: The feature enables tokens to be transferred from one user to the other
  4. transferFrom: This function automates transfers by approved people or contracts. So,
  5. you don’t have to make some payments manually
  6. approve: Limits the number of tokens that a smart contract can withdraw from your balance.
  7. name: This is used to attach a name to a token (for instance, “Tether”)
  8. symbol: This is used to attach symbols to tokens (for instance, “USDT”)
  9. decimal: Sets the number of decimal places that a token can be divided into

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