The Ethereum project’s Developer team, on the 11th of last month, announced that the standard that governs how new cryptographic tokens can be launched on top of the Ethereum blockchain has been finalised.
The ERC-20 standard establishes a common set of rules for tokens released via Ethereum smart contracts to adhere to and is currently the basis for the many tokens that have been released through initial coin offerings (ICOs). The standard has now been published on the Ethereum GitHub page, which means that all tokens developed on Ethereum should henceforth, adhere to the standard.
Despite having been enthusiastically adopted by DApp developers since its introduction in late 2015, ERC-20 has, to date gone unenforced. The standard is designed to ensure that Ethereum-flavoured tokens perform in predictably across the Ethereum ecosystem, in order to make decentralized applications and smart contracts interoperable across the platform, as well as provide a fixed standard of security for tokens to follow.
The announcement comes ahead of Ethereum’s next major upgrade, Metropolis, who’s new testnet will be launched a few days from now, with the actual upgrade possibly occurring this month.