The Ethereum network contains several nodes (computers) which are interconnected. The transactions carried out in this network are stored in an open, distributed ledger. Smart contracts are a concept in this network, where if a task needs to be done, a smart contract is initiated with the required number of people.
ERC20 is essentially a standard for such smart contracts on the Ethereum blockchain which are created from a technical standpoint. ‘ERC’ stands for Ethereum Request for Comment and ‘20’ stands for the number assigned to this request. ERC20 gives a set of rules that Ethereum tokens should follow, which in turn helps developers figure out the interaction between various tokens.
The top ERC20 tokens are:
Binance Coin (BNB)
In order to obtain Ether tokens, one will have to exchange coins for them. These coins, which can be Ether (ETH), Bitcoin (BTC) or Ripple (XMR), are to be bought from Coinbase. The digital currencies thus bought will have to be stored somewhere. Usually, exchanges like Bitrex and Poloniex and online trading platforms like Coinbase store digital currency and also maintain accounts and balances. However, an even safer way of saving these is through wallets. Several wallets are available like the Infinito Wallet and HolyTransaction. Infinito Wallet is supposed to be the universal cryptocurrency wallet as it is supposed to support many assets including Bitcoins, Litecoin, and Dash etc…