In recent times virtual currency is emerging trends and businesses are utilizing crowdfunding for their business developments.
Ethreum token development is one of the Crowdfunding ways where the tokens are developed on the ethereum network.What is Token?A token is a code that has a specified value on it, it is token on stake, service, redeem that it meet its value.
Tokens are entities that carry value defined on it by the parties involved in the transaction.Tokens are not currency instead it is created and issued on the Blockchain platform for crowdfunding and it is issued by the company owners to their investors or shareholders.Examples of cryptocurrencies are Bitcoin, Bitcoin Cash, and Ethereum.
Ethereum has various token with different smart contract standards like ERC20, ERC721, ERC777, ERC827, ERC223, and much more.
The ERC tokens are usually used for crowdfunding (ICO) to make funds for a business.Types of Ethereum TokenERC 20 TokenERC 20 is the official token created on the ethereum blockchain which can be exchanged with another ERC 20 token.
It defines the few interfaces a smart contract must implement to manage, trade, and own unique token.ERC827 TokenERC 827 is one of the latest standards of the ethereum network and an extension of the standard interface ERC20.