1, What are the benefits of setting a token standard like ERC20?
It makes communication between an infinite number of programs possible. With communication comes the ability to function with confidence and consistency.
- What functions are in the ERC20 Token Standard Interface and what do they do?
The “totalsupply” function lets wallets and exchanges see the amount of tokens in circulation.
the “balanceOf” function lets wallets and exchanges know the amount of tokens available by address.