ERC is essentially the acronym for Ethereum Request for Comments. ERCs are Ethereum application-level specifications, such as token standards, name registries, library/package formats, and more. Anyone may make an ERC token with Ethereum Blockchain app development, but the author must explicitly clarify their standard and gain community approval for it. Common ERC standards specify a collection of required functions for a token form, allowing applications and smart contracts to communicate with it predictably. The ERC-20 is the most widely used ERC standard to date, a form of a standard that simplifies the development, use, and exchange of Ethereum-based tokens.