The ERC-20 token standard

It is more than likely that you will have heard of ERC-20. When a new cryptocurrency is released, the first question that usually arises is, Is it an ERC-20 token? People incorrectly assume that an ERC-20 token is a cryptocurrency based on Ethereum. Well, technically speaking, this is true, but it does not tell the whole story. ERC-20 is a standard for creating a token on Ethereum. The simple token that we have just created does not fulfill the ERC-20 standard. Yes, it is a digital token smart contract, but it is not an ERC-20 token. The ERC-20 standard is one of many reasons why we have seen an increase in the number of new cryptocurrencies. However, ERC-20 is not a requirement for creating a token on top of Ethereum.

To create an ERC-20 token smart contract, you must implement the following methods in your smart contract:

function totalSupply() public view returns (uint256)
function balanceOf(address _owner) public view returns (uint256 balance)
function...