ERC

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ERC

Definition:

ERC is an Ethereum term and stands for “Ethereum request for comment”
It is a tool and process used to introduce and get feedback from developers on technical proposals. Think of it like a proposal for a new feature. If this is accepted and approved it becomes a new standard. The most famous ERC is ERC20, which is the standard that enables the creation of new tokens on the Ethereum network.

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Related Terms:
  • Dictionary: Tokenomics
    Tokenomics is looking at a crypto currency beyond the name and funny dog picture. It is studying the supply, the emissions, the burning, the incentives that may affect the price of a crypto currency, where it will go and its potential future. For NFT drops there can also be tokenomics, especially if there are planned airdrops, ERC 20 tokens etc in the roadmap. Marketcap, token release, mining costs and incentives, who owns the coins and how many are available are all tokenomic considerations.


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