November 19, 2015
ERC-20 token standard finalized
EIP-20 finalized the ERC-20 fungible token interface on November 19, 2015 — standardizing `transfer`, `approve`, and `balanceOf` for Ethereum tokens.
What it was for
ERC-20 let exchanges, wallets, and DeFiDecentralized finance — lending, trading, and derivatives on blockchains without traditional banks. protocols integrate any compliant token without custom code. The 2017 ICO wave minted thousands of ERC-20 assets; UniswapA decentralized exchange protocol on Ethereum — automated market makers for token swaps. pools and MetaMask balances all assume this ABI. It became the template every EVM chain copied.
Why it's here
ERC-20 standardized how fungible assets work on Ethereum.
Why it mattered
A common interface unlocked composable DeFiDecentralized finance — lending, trading, and derivatives on blockchains without traditional banks. and exchange integrations.
What it solved
Every token contract used incompatible APIs, blocking wallets and automated market makers.
Media
- ImageEthereum
GitR0n1n, Public domain, via Wikimedia Commons
Related
- Ethereum mainnet launchesJuly 30, 2015
- Uniswap v1 releasedNovember 2, 2018
- Compound launches COMP governance tokenJune 15, 2020