| Dapp just means distributed app[lication] Blockchains, distributed networks and especially the Ethereum community have called themselves web 3.0 and their primary javascript object to access web 3.0 functions is called web3 Think of the Ethereum network as a bunch of docker containers (nodes) that will execute random functions you throw at it and assume thats a good idea but either way you have to send ether for them to do it Ether is a limited resource so therefore it has value because other people want to use it too. Ether is the gas on the ethereum network, and you have to use it as fuel to execute functions. Still with me? Okay great, before now it has been much more cumbersome to use any of this, and now you can do it from a mobile device Erc20 is a standardized set of functions that make it easier to use the docker containers, it is the 20th one described and it caught on. This is analogous to REST protocols being made from a mere description in IETF RFCs. This particular standard primarily allows for the creation of new tokens. With this protocol, The docker containers will recognize the new unit of account and also execute the transfer functions to other Ethereum users. This works For all intents and purposes Ethereum has been called the World Computer for these reasons |