ERC 20 Token Index
We, at Cryptomover, is introducing another novel index, the ERC20 Token Index. Yep, an index that composes of entirely ERC20 coins.
What is ERC 20?
Basically, ERC20 is THE technical standard for tokens issued on the Ethereum network. A smart contract that runs on top of the ETH network, it allows issuers to issue tokens. Similar to other cryptocurrencies (eg: Bitcoin and Ethereum), these ERC20 tokens can be sent/receive and have value.
The simplify details of the interface of a ERC20 contracts are as follows:
- Allowance — allows for two address to create repeated unidirectional transfer
- Approve — allows for two addresses to repeatedly withdraw unidirectionally
- BalanceOf — accepts a single address input parameter & returns a single public constant
- TotalSupply — total supply constant
- Transfer — allows for the wallet owner to directly send tokens to an address
- TransferFrom — allows for a smart contract to execute a transfer with the parameters passed on behalf of the wallet
owner
Benefits of ERC 20?
ERC20 is a huge innovation. For developers, it becomes trivial to issue an cryptocurrency. For hodlers, holding an ERC20 is no more than securing your ETH private key. For exchanges, listing the ETH / ERC20 pair is simple. Thus, currently, most ICOs issue ERC20s.
The others main advantage will be as follows:
- Fast and Uniformly transaction on the ETH network secured by ETH network hash rate
- Reduce risk of contract breaking as the code has been proven
- For web client — standard ways to interact with the blockchain
- Hardware wallet support — if ETH is supported, it will work
Cryptomover ERC 20 index
Our ERC 20 index provides an easy way to track ERC 20 coins. We primarily focuses on the following rules to screen index constituents:
- The token must conform ERC20 standards
- The market capitalization higher than 100,000,000 USD
- 24 hour trading volume higher than 2,000,000 USD
These ten tokens cover more than 60% of the ERC 20 value in terms of market capitalization. The weights of each index member is market capitalization weighted. The index is rebalance monthly. Ten initial ERC 20 index member are, namely, Vechain, OmiseGo, ICON, Zilliqa, Aeterenity, 0x, Bytom, Golem, Populous and Augur.
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Disclaimer: Cryptomover is not a licensed financial advisor. The information presented in this piece is an opinion, and is not purported to be fact. Cryptocurrency is a volatile virtual commodity and can move quickly in any direction. Cryptomover is not responsible for any loss incurred by following this advice.
Great article! Well known info, but thanks for sharing.
Talking about ICOs, there are many good crypto related projects that are developing now.
If I can give you guys my opinion, I discovered an exciting one: RAWG.
Just now the RAWG team won TWO blockchain contests in one day. Amazing! Have a look at this article explaining this great result:
https://medium.com/rawg/wizardry-product-transparency-5325fd85557a
Like they say: “This is RAWG’s promise to become one of the trustworthy projects in the sea of fraud and scam”.
If you want to have a look and get some information, the ICO will start in a short period and they are at the moment in pre-ICO phase.
The ICO site is this one: https://token.rawg.io/.
It's a video game discovery platform that converts your skills into goods and services.
You can earn tokens by playing your favorite games. The site is already working, with more than 50,000 games in the database and new games are getting added every day.
Have a look. I hope this information is helpful!