What is an ERC20 Token?

ERC20 defines a set of rules which need to be met in order for a token to be accepted and called an 'ERC20 Token'. The standard rules apply to all ERC20 Tokens since these rules are required to interact with each other on the Ethereum network. These tokens are blockchain assets that can have value and can be sent and received, like Bitcoin, Litecoin, Ethereum, or any other cryptocurrency.
The difference between these tokens and a standalone currency like Litecoin is that ERC20 tokens piggyback on the Ethereum network, hosted by Ethereum addresses and sent using Ethereum transactions.

Sometimes, token contracts do not handle token transfers correctly, sometimes because the fee was too low, or the contract was incorrectly programmed. In these cases, examining your transaction on a blockchain explorer like Etherscan will show an error:

By now, you may have noticed that within your Exodus wallet, your ANT, GNT, REP, EOS, and other ERC20 assets share the same receiving address as your Ethereum address. Now you know why!

All ERC20 tokens transact on the same network that your Ethereum wallet uses. Hence, an ETH address is also a GNT address, is also an EOS address, and so forth.

Exodus currently (ver.1.62.0) supports the following ERC20 tokens: 0x, Aragon, Augur, Adtoken, Aeron, Aeternity, Aion, Airswap, Amber, AppCoins, Binance Coin, BAT, Bancor, Bread, ChainLink, Cindicator, Civic, Decentraland, Dent, Dentacoin, DigixDAO, Dragon, District0x, Edgeless, Ethos, FirstBlood, FunFair, Gnosis, Golem, Genesis Vision, Iconomi, Kin, KuCoin, Kyber, Loopring, Lunyr, Maker, MediShares, Melonport, Metal, Monaco, Matchpool, Mithril, Numeraire, OmiseGo, Pillar, Po.et, Polymath, Populous, Power Ledger, Qash, Quantstamp, Raiden, Request, Revain, Ripio, Rivetz, SALT, Santiment, SingularDTV, Status, Storj, Storm, Substratum, TAAS, TenX, Time New Bank, Veritaseum, Viberate, Walton, Wax, WeTrust, Wings and iExec RLC.