As noted above, changing the electrolyte concentration changes the electrode potential.

You can do this experiment several times increasing electrode potentials from low to high.

An extract from the table of standard electrode potentials is shown below.

Its standard electrode potential is 0.34, slightly higher than the potential for iron (at 0.44).

The standard electrode potential is the tendency of a bulk material to draw free electrons to itself.

Then one looks up the standard electrode potential, E, in volts, for each of the two half reactions.

This method of calibration avoids the need to know the standard electrode potential.

A related concept in electrochemistry is the electrode potential at the point of zero charge.

Yet it is also a strongly electropositive metal, with a high negative electrode potential.

Potentiometer: An instrument that measures the electrode potential of the solution.