I'm trying to understand on what's happening underneath with the Ethereum blockchain after I created a completely a new ERC-20 token.

So, if I'm not mistkaen, an ERC-20 token is just a "smart contract" on the top of the ETHEREUM blockchain?

Thus, when you're creating this new ERC-20 token, you're just building a smart contract that is on the top of ETHEREUM blockchain, in which the nodes will validates its existence and who owns what, is that correct?


Yes you can think a ERC20 token as a ledger, implemented by a smart contract, that keeps track of how many tokens any address owns.

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