Intermediate
Blockchain & Web3
Q43 / 100
What is the ERC-20 standard used for?
Correct! Well done.
Incorrect.
The correct answer is A) It defines a common interface for fungible tokens on Ethereum, ensuring interoperability with wallets, exchanges, and dApps
A
Correct Answer
It defines a common interface for fungible tokens on Ethereum, ensuring interoperability with wallets, exchanges, and dApps
Explanation
ERC-20 specifies standard functions (transfer, balanceOf, approve, etc.) that fungible tokens must implement, allowing them to work seamlessly with existing Ethereum infrastructure.
Progress
43/100