ERC stands for "Ethereum Request for Comments." It is a standard used for creating and implementing smart contracts on the Ethereum blockchain. ERCs help developers communicate and establish guidelines for various functionalities, ensuring compatibility and interoperability among different applications and tokens. One of the most well-known ERC standards is ERC-20, which defines a common list of rules for tokens on the Ethereum network. This standard allows developers to create fungible tokens that can be easily exchanged and integrated into various platforms, enhancing the overall ecosystem of decentralized applications.