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What is the ERC20 token standard?

The ERC-20 is technical standard for every fungible token used to issue and implement tokens on the Ethereum Blockchain. Being a fungible token means that it has a property that makes each token’s value and type exactly the same as another token.

mempool definition

Mempool

Mempool is combined term derived out of the words memory and pool. It is sort of a waiting room to confirm pending transactions. It can also be defined as the mechanism of cryptocurrency nodes for storing information on unconfirmed or pending transactions.