GlossaryAdvanced
Token Standard
A common technical specification that lets different tokens work consistently together.
A token standard is a shared technical specification that defines how a token behaves, such as how balances are tracked and how transfers work, so that wallets and applications can interact with any token following that standard consistently.
Without common standards, every new token would need custom support built into every wallet and application individually, which would make the broader ecosystem far less interoperable.
Examples
- ERC-20 is a widely used token standard for fungible tokens on Ethereum-compatible networks.
- A wallet that supports a given token standard can generally display and transfer any token built to that standard.