Ethereum’s Biggest Secret

Since its launch in 2015, Ethereum has become one of the driving forces behind the growth of cryptocurrency. Initial coin offerings (ICOs) have raised billions of dollars in funding for crypto projects from all around the world, and most of these ICOs are based on the Ethereum platform.

ERC20 is a technical standard for tokens issued on the Ethereum blockchain, providing a list of rules that all Ethereum-based tokens must follow. These include how the tokens can be transferred, how transactions are approved, how users can access data about a token and the total supply of tokens.

Just like bitcoin, Litecoin and any other cryptocurrency, ERC20 tokens are blockchain-based assets that have value and can be sent and received. The difference is that instead of running on their own blockchain, these tokens are issued on the Ethereum network. This means they’re hosted by Ethereum addresses and are sent using Ethereum transactions.

You may be surprised by how many tokens actually use Ethereum for the heavy lifting:

Chainlink (LINK):

A blockchain-based middleware, acting as a bridge between cryptocurrency smart contracts, data feeds, APIs and traditional bank account payments.

Binance (BNB):

Binance aims to build a world-class crypto exchange, powering the future of crypto finance.

Tether (USDT):

Tether gives you the joint benefits of open blockchain technology and traditional currency by converting your cash into a stable digital currency equivalent.

Uniswap (UNI):

UNI token served as governance token for Uniswap protocol with 1 billion UNI have been minted at genesis. 60% of the UNI genesis supply is allocated to Uniswap community members and remaining for team, investors and advisors.

VeChain (VEN):

Aims to connect blockchain technology to the real world by as well as advanced IoT integration.

HEX (HEX):

HEX.com averages 25% APY interest recently. HEX virtually lends value from stakers to non-stakers as staking reduces supply. The launch ends Nov. 19th, 2020 when HEX stakers get credited ~200B HEX. HEX’s total supply is now ~350B. Audited 3 times, 2 security, and 1 economics.

Wrapped Filecoin (WFIL):

Wrapped Filecoin is an Ethereum based representation of Filecoin.

BAT (BAT):

The Basic Attention Token is the new token for the digital advertising industry.

Theta Token (THETA):

A decentralized peer-to-peer network that aims to offer improved video delivery at lower costs.

TRON (TRX):

A pegged version of the TRX token from TRON mainnet by the TRON foundation.

DAI Stablecoin:

Multi-Collateral Dai, brings a lot of new and exciting features, such as support for new CDP collateral types and Dai Savings Rate.

Maker (MKR):

Maker is a Decentralized Autonomous Organization that creates and insures the dai stablecoin on the Ethereum blockchain

AMP (AMP):

Amp is a digital collateral token designed to facilitate fast and efficient value transfer, especially for use cases that prioritize security and irreversibility. Using Amp as collateral, individuals and entities benefit from instant, verifiable assurances for any kind of asset exchange.

Bitorrent (BTT):

BitTorrent, Inc. is a consumer software company based in San Francisco. Its protocol is a decentralized P2P network in the world that is driving 22% of upstream and 3% of downstream traffic globally.

Aave (AAVE):

Aave is an Open Source and Non-Custodial protocol to earn interest on deposits & borrow assets. It also features access to highly innovative flash loans, which let developers borrow instantly and easily; no collateral needed. With 16 different assets, 5 of which are stablecoins.

Wrapped Bitcoin (WBTC):

Wrapped Bitcoin (WBTC) is an ERC20 token backed 1:1 with Bitcoin. Completely transparent. 100% verifiable. Community led.

Celsius (CEL):

A new way to earn, borrow, and pay on the blockchain.

Quant (QNT):

Blockchain operating system that connects the world’s networks and facilitates the development of multi-chain applications.

HuobiToken (HT):

Huobi Global is a world-leading cryptocurrency financial services group.

Synthetix Network Token (SNX):

The Synthetix Network Token (SNX) is the native token of Synthetix, a synthetic asset (Synth) issuance protocol built on Ethereum. The SNX token is used as collateral to issue Synths, ERC-20 tokens that track the price of assets like Gold, Silver, Oil and Bitcoin.

OmiseGO (OMG):

OMG Network, formerly known as OmiseGo, is a non-custodial, layer-2 scaling solution built for the Ethereum blockchain. As an Ethereum scaling solution, OMG Network is designed to allow users to transfer ETH and ERC20 tokens significantly faster and cheaper than when transacting directly on the Ethereum network.

Telecoin (TEL):

A cryptocurrency distributed by your mobile operator and accepted everywhere.

0x (ZRX):

0x is an open, permissionless protocol allowing for tokens to be traded on the Ethereum blockchain.

Chiliz (CHZ):

Chiliz is the sports and fan engagement blockchain platform, that signed leading sports teams.

Compound (COMP):

Compound is a decentralized algorithmic money market protocol running on the Ethereum blockchain that uses lending pools to facilitate loans in a variety of cryptocurrencies.

SushiToken (SUSHI):

Sushi is a DeFi protocol that is completely community-driven, serving up delicious interest for your held crypto assets.

Augur (REP):

Augur (REP) is meant to harness the wisdom of the crowd through prediction markets on a protocol owned and operated by holders of the Ethereum-based Reputation toke

Bancor (BNT):

Bancor is an on-chain liquidity protocol that enables constant convertibility between tokens. Conversions using Bancor are executed against on-chain liquidity pools using automated market makers to price and process transactions without order books or counterparties.

Graph Token (GRT):

The Graph is an indexing protocol and global API for organizing blockchain data and making it easily accessible with GraphQL.

Golem (GNT):

Golem is going to create the first decentralized global market for computing power

IOStoken (IOST):

A Secure & Scalable Blockchain for Smart Services

Nexo (NEXO):

Instant Crypto-backed Loans

Crypto.com Coin (CRO):

Pay and be paid in crypto anywhere, with any crypto, for free.

Status (SNT):

Status is an open source messaging platform and mobile browser to interact with decentralized applications that run on the Ethereum Network.

Loopring (LRC):

Loopring is a DEX protocol offering orderbook-based trading infrastructure, zero-knowledge proof and an auction protocol called Oedax (Open-Ended Dutch Auction Exchange).

Serum (SRM):

Serum is a decentralized derivatives exchange with trustless cross-chain trading by Project Serum, in collaboration with a consortium of crypto trading and DeFi experts.

Polymath (POLY):

Polymath aims to enable securities to migrate to the blockchain.

Numeraire (NMR):

NMR is the scarcity token at the core of the Erasure Protocol. NMR cannot be minted and its core use is for staking and burning. The Erasure Protocol brings negative incentives to any website on the internet by providing users with economic skin in the game and punishing bad actors.

Storj (STORJ):

Blockchain-based, end-to-end encrypted, distributed object storage, where only you have access to your data

Gemeni Dollar (GUSD):

Gemini dollar combines the creditworthiness and price stability of the U.S. dollar with blockchain technology and the oversight of U.S. regulators.

These are just the most popular, according to Etherscan there are a total of 847 tokens built on top of the Ethereum network. You can find a full list here.

To learn how to create your own ERC-20 token, follow the official Ethereum documentation.

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