What are the benefits of setting a token standard like ERC20?
the benefits of setting a token standard like ERC20 is that creates integration and interoperability between all smart contracts to reach the most effiency possible
What functions are in the ERC20 Token Standard Interface and what do they do?
TotalSupply: provides information about the total token supply
BalanceOf: provides account balance of the owner’s account
Transfer: executes transfers of a specified number of tokens to a specified address
TransferFrom: executes transfers of a specified number of tokens from a specified address
Approve: allow a spender to withdraw a set number of tokens from a specified account
Allowance: returns a set number of tokens from a spender to the owner