What Does ERC20 Stand for?

Token standards play a paramount role within the blockchain ecosystem, as they establish the regulations and functionalities governing tokens on a specific blockchain platform. In this article, we shall delve into the prominent token standards: ERC-20 and ERC-721, offer you to buy the WBT token and mention the WBT value and benefits.

What is ERC-20?

ERC-20, also known as Ethereum Request for Comment 20, stands as one of the most extensively embraced token standards on the Ethereum blockchain. It furnishes an array of regulations and interfaces that facilitate the generation and interaction of fungible tokens. Fungible tokens, being entirely interchangeable and indistinguishable from one another, bear equivalent value irrespective of the token’s specific type. This standard has paved the way for an array of Initial Coin Offerings (ICOs) and token-based ventures.

The salient attributes characterizing ERC-20 tokens encompass the capability to transfer tokens between addresses, ascertain token balances, and authorize third-party contracts to spend tokens on behalf of token holders. These features have transformed ERC-20 tokens into the backbone of decentralized exchanges (DEXs), wallets, and various dApps within the Ethereum ecosystem. Examples of tokens built on ERC 20:

  • BUSD
  • USDT 
  • WBT
  • SHIB.

WBT is the token released by the WhiteBIT crypto exchange and serves there for additional earning options, lowering fees and free ECR-based withdrawals, as well as bonuses in the referral program. The WBT price is $4.64.


ERC-721 stands as another token standard present on the Ethereum blockchain, but unlike ERC-20, it pertains to NFTs. Non-fungible tokens, unlike their fungible counterparts, possess unique and indivisible qualities, rendering each token distinct in terms of properties and value. This standard gained immense popularity with the advent of NFTs in diverse domains, including digital art, collectibles, and gaming.

The WhiteBIT token offers a plethora of advantages to individuals who possess it. WBT owners who choose to retain their tokens in the Main Balance enjoy remarkable benefits, including generous discounts of up to 90% on taker fees and complete waivers of up to 100% on maker trading fees. Additionally, tokens stored in the Main Balance hold equal significance and are considered on par with tokens held in Holding. This ensures equitable treatment and recognition for both categories of token ownership.

There is also an option to hold tokens. Holding serves as a method to immobilize WBT, offering a range of fresh advantages to its users, which include an amplified share in referral rewards, a distinctive maker fee structure, a waiver on payments for blockchain fees, and complimentary AML checks. You can buy the token on WhiteBIT and Huobi platforms at the current WBT price.

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