Too Long; Didn't Read
Tokens are the most important and mostly used interfaces on the Ethereum platform and web3 environment. They are standardized to ensure smart contracts remain composable. This means when a new project issues a token, that it remains compatible with existing decentralized exchanges. A contract implementing these standards is called an ERC-20 Token Contract. It will create, monitor and perform operations on the token on the. the. Ethereum protocol. The standard also defines events which are triggered when certain operations occur, including zero value transfers.