The term ERC stands for Ethereum Request for Comments, which you've likely encountered in popular token standards like ERC-20 and ERC-721. As a subset of the Standards Track EIP (Ethereum Improvement Proposal), ERCs define application-level standards and conventions. Developers commonly adhere to these frameworks when building decentralized applications—ensuring interoperability, such as ERC-20 compliant tokens.
What Is a Request for Comments (RFC)?
In academia and industry, RFC ( Request For Comments) documents formalize technical specifications for protocols, processes, or standards. For example:
- RFC 793 establishes the Transmission Control Protocol (TCP).
ERC follows this tradition, standardizing Ethereum's ecosystem practices.
Key ERC Standards Explained
1. ERC-20: Fungible Tokens
- Purpose: Standardizes interfaces for interchangeable tokens (e.g., cryptocurrencies).
- Use Cases: Voting tokens, staking assets, stablecoins.
👉 Explore ERC-20 token examples
2. ERC-721: Non-Fungible Tokens (NFTs)
- Purpose: Defines unique digital assets with indivisible ownership.
- Use Cases: Digital art, collectibles, intellectual property licenses.
3. ERC-1155: Multi-Token Standard
- Purpose: Unifies fungible and non-fungible assets in a single contract.
- Advantages: Reduces gas costs and simplifies batch transfers.
Over the next days, we'll dive deeper into these standards and their variants!
FAQs
What’s the difference between ERC and EIP?
- EIP: Broad proposals for Ethereum upgrades (including core protocols).
- ERC: Focused on application-layer standards (e.g., token formats).
Why is ERC-20 the most adopted standard?
Its simplicity ensures compatibility across wallets, exchanges, and dApps, fostering widespread adoption.
Can ERC-1155 replace ERC-20 and ERC-721?
While versatile, niche use cases (e.g., pure NFTs) may still prefer ERC-721 for specificity.