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The world of cryptocurrencies can be difficult for the average investor, especially those who do not have the technical knowledge of blockchain and smart contracts. However, the prospects for many new digital currencies have reached all types of investors, including those who have been cautious about investing in digital tokens or cryptocurrencies.Although investors can certainly succeed in the cryptocurrency arena without extraordinary technical knowledge, a basic understanding of many of the most important features of existing digital currencies will undoubtedly guide an investor towards safer and better finances.Decisions are a huge concept that governs a large chunk of the space, and it's specifically related to smart contracts and smart property, known as the ERC20 Token Standard.ERC20 refers to the scripting standard used within the Ethereum blockchain. This technical standard dictates a series of rules and regulations that must be followed by the Ethereum token or smart contract and steps must be taken to enforce it. Perhaps the easiest way to think of ERC20 as a set of basic guidelines and functions is to follow any new token created on the Ethereum network, such as the hobo coin or hobo nickels (HOBO).Listen to this episode to learn more... Our GDPR privacy policy was updated on August 8, 2022. Visit acast.com/privacy for more information.