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ERC stands for Ethereum Request for Comment, and by addressing this topic is going to help us better understand the reach of many blockchain use cases.
ERC standards, in a way, define the standards for writing the smart contract that regulates the token activities on Ethereum.
Among others, three important protocols or token standards have been given the go-ahead by the Ethereum blockchain network to function inside the ecosystem: ERC-20, ERC-721, and ERC-1155. These are the most often used token standards at the moment because Ethereum is the most well-known and dominant blockchain on the market.