Glossary - ChicksX

ERC stands for Ethereum Request for Comments. It's a protocol for proposing improvements and standards on the Ethereum blockchain.

ERC stands for Ethereum Request for Comments. It's a protocol used to propose improvements, define standards, and set guidelines on the Ethereum blockchain. Each ERC is a numbered document that outlines technical specifications for specific functionality or standards. The most well-known ERC is ERC-20, which defines a standard for creating and managing fungible tokens on Ethereum. Other popular standards include ERC-721 for non-fungible tokens (NFTs) and ERC-1155 for multi-token standards. ERCs ensure interoperability and compatibility between Ethereum-based applications and smart contracts, fostering innovation and collaboration in the Ethereum ecosystem. Understanding ERCs is crucial for developing and interacting with Ethereum-based technologies.