A Brief Overview Of Ethereum Standard Tokens

"No one needs an introduction as to what tokens are, but here's a recap of it briefly regardless. A token is designed to represent something else, in most cases, something of value. These tokens are – in the Ethereum ecosystem – issued on the blockchain, where they represent a financial value or exist as a digital asset. However, these tokens do not necessarily adhere to a particular standard.
That is about to change, thanks to the ERC token standard introduction. Although this will change very little for tokens on the surface, it is an interesting development. Tokens are still issued on the Ethereum network, and can be exchanged against other currencies. However, these various ERC standards make the assets more easily interchangeable and ensure they can work with Dapps adhering to the same standard. As one would expect, the “magic” provided by ERC20 as a sample can be found under the hood. The ERC20 standard makes it easier for all compatible tokens to be natively supported by new projects and services.
Over the past few months, we have seen a multitude of ERC token standards being issued on the Ethereum blockchain. All of these are cross-compatible with different Dapps and are being used through different projects. However, there is still some hindrances as can be seen, as there remains to be some flaws which needs to work on it'll be a long way run for them to reach true adoption."

https://blog.kucoin.com/etheruem-ecosystem-guide-to-erc-tokens-sk-st