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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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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange



Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited ( ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub ( ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Should Crypto Projects Devote Resources to Community Growth and Marketing?



2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata



Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub ( will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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