Blockchain technology is being hailed as the discovery of the new millennium for numerous reasons, one of which is the maintenance of important standards. Among the many cryptocurrencies that use blockchains, Ethereum is one of the most popular ones, and it is significant on the use of tokens which can be bought, sold, or traded. These tokens have such great importance in the working of Ethereum, a classification of standards were established to make sure that these tokens and the Ethereum blockchain are never affected by technical or structural problems. The ERC commands vital importance, defines a common list of rules that all Ethereum tokens must adhere to. While the erc 20 token creation is the most commonly used and is that useful, it isn’t that perfect. As these standards remains relatively nascent, there will likely be bugs that need to be ironed out, which apparently can be a thorn to its dominance and adoption. While the use cases for these tokens are just beginning to be explored, there’s still a lot pf potential across many fields for these new erc token standards to contrive in these period of innovation.