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Token standard
A token standard is a published set of functions a token contract agrees to provide, so wallets, exchanges and apps can handle any token that follows it the same way. On Ethereum the main ones are ERC-20 for interchangeable tokens, ERC-721 for unique tokens and ERC-1155 for both.
What it means for you. The standard decides how your wallet shows and sends a token and which approvals apps ask for. Following a standard says nothing about who controls the contract or whether the token can be sold: two ERC-20 tokens can behave very differently behind the same interface.
Sources: ethereum.org: Token standards, ethereum.org: Ethereum development standards, ERC-2612: Permit extension for EIP-20 signed approvals · checked 4 October 2026
ERC
An ERC (Ethereum Request for Comments) is a kind of EIP that sets an application-level standard: a shared interface for tokens, wallets or contracts, such as ERC-20 for interchangeable tokens. ERCs do not change Ethereum's rules; contracts and apps choose to follow them.
What it means for you. An ERC label on a token tells you which functions it promises, so wallets and apps know how to show and move it. It does not tell you the token is honest: the contract behind the interface can still add fees, freezes or owner powers that the label does not reveal.
Sources: ethereum.org glossary, EIP-1: EIP Purpose and Guidelines, ERC-2612: Permit extension for EIP-20 signed approvals · checked 4 October 2026