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Ethereum’s ERC-20 tokens are soon going to be a big deal and here’s why




The main agenda for Ethereum has always been to set up an ecosystem of decentralized applications where everything seamlessly functions together to form the ‘world computer’. Basically, Ethereum is looking to achieve “different things for different people”. For this to happen, Ethereum has established a reputation as the standard open source Blockchain platform for DAPs across the board.

Cue ERC-20 token standards. These were developed as a set of rules that establishes a basis for DAP developers to create their own tokens. To put it simply, ERC-20 standards enable developers and programmers of DAPs avoid re-inventing of the wheel. As a result, a variety (if not all) of the tokens on Ethereum’s eco-system are ERC-20 compliant.

What’s inside the ERC-20 token standards?

The main purpose of ERC-20 is to define the functions of tokens in the Ethereum eco-system. Since Ethereum runs on smart contracts, each token built on top of Ethereum’s Blockchain basically operates like a smart contract.

This means that ERC-20 token standards are designed to give instruction to how tokens can be transferred from one party to the other and how data concerning the token can be accessed by either party. The ERC-20 standards also describe the signals that particular smart contracts can fire and the reception of those signals by the consecutive smart contracts.

Therefore, by describing the functions and events of each token, ERC-20 token standards, therefore, provide a basis for which every token on the ecosystem can comply and function. These results in ERC-20 tokens getting support from most wallets that also support Ether (ETH). Plus, ERC-20 token standards makes the tokens on Ethereum’s ecosystem important to the success of Ethereum as a world computer as they allow each of the tokens to achieve interoperability at different levels.

In fact, Fabian Vogelsteller ( a developer of Ethereum’s Mist wallet) believes that “we are just at the beginning of tokenizing everything” and that “in the future, you will be able to buy a share of the chair you are sitting on, the paint inside your house or a fraction of the equity in a huge building complex”

Coinbase, ETC and the ERC-20 token uprising

As much as the statements form Vogelsteller might sound a little bit grandiose, it might actually soon come true and here is why. An Ethereum based decentralized application browser by the name of Toshi is now supporting Ethereum’s custom ERC-20 tokens and testnets. Toshi is operated by Coinbase which is one of the largest crypto exchange wallet and brokerage firm worldwide.

Furthermore, after Coinbase’s integration of Ethereum Classic to its platform, the company has announced plans to eventually integrate all ERC-20 tokens and ICO tokens to its platform. a statement issued by the company on June 12 said that they had “previously announced” their “ intentions to support the ERC-20 technical standards and Bitcoin forks.” They further said that  they “will announce the intention to add specific assets within those categories prior to final engineering integration” so as to remain consistent with their “public process of adding new assets.”

Mass adoption of ERC-20 tokens

Already, Ethereum is on the clear with the SEC declaring that it’s not a security. In a way, this move by the SEC has enabled Coinbase the confidence to go ahead and support ERC-20 tokens. Apart from operating and adding new features to Toshi, Coinbase has also acquired Paradex which is a decentralized crypto exchange that supports ERC-20 tokens.

Given that Coinbase is a well-funded conglomerate the support it provides to ERC-20 tokens will result in a possible mass adoption of ERC-20 tokens ahead of every other cryptocurrency in the market (as was the case with Ethereum Classic and Ripple XRP). Already the Toshi team enables users to store their ERC-2- tokens or even add custom ERC-20 tokens that are unavailable to the Toshi database. Going forward, this could massively increase the usage of ERC-2- tokens in the long run.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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My Crypto Heroes Announces Issuance of MCH Governance Token



Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

During December 2020 the first governance…

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Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving



Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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