Welcome to this short tutorial on how to identify ERC20 tokens. ERC20 tokens are tokens that are built on the Ethereum blockchain, and they have certain features that make them unique.
The first step to identify an ERC20 token is to check its code. Each token has its own unique code, and it can be found on the Ethereum blockchain. To view the code, you need to search for the token’s address using a blockchain explorer such as Etherscan.
Once you’ve found the token’s address, you can view its code and look for certain “signatures” to determine if it’s an ERC20 token. There are four specific function signatures that all ERC20 tokens must have in order to be considered an ERC20 token. These are:
• totalSupply()
• balanceOf()
• transfer()
• approve()
If the token’s code contains these four function signatures, then it is an ERC20 token.
The second way to identify an ERC20 token is to look at its transaction history. All ERC20 tokens must be sent and received using the Ethereum blockchain, which means that any tokens sent or received using the Ethereum blockchain can be identified as ERC20 tokens.
Finally, you can also look for the token’s contact information on the Ethereum blockchain. All ERC20 tokens must have contact information listed on the blockchain, which can be used to verify that the token is indeed an ERC20 token.
So, there you have it! Now you know how to identify ERC20 tokens. Thanks for watching!
