ERC-20 is a standard interface for tokens, which means ERC-20 tokens are a subset of Ethereum tokens. Over the last few years the process of creating tokens that work on the Ethereum network has changed, yielding with the creation of the “ERC-20 Standard.” The ERC-20 Standard outlines a set of rules that tokens follow on the Ethereum network, to produce expected results. When a developer incorporates a specific set of functions into their smart contracts the token becomes ERC-20 compliant, which allows it to perform the following actions: