The Top 3 ERC Standards leading today

  • ERC 20 tokens are another name for ”fungible tokens”.
  • Fungibility defines the ability of an asset or Token to be exchanged for assets of the same value, say two 1 dollar notes.
  • Each ERC-20 Token is strictly equivalent to the same value regardless of its feature and structure.
  • ERC tokens’ most popular application areas are Stablecoins, governance tokens, and ICOs.
  • ERC-721 tokens are the standards for non-fungible tokens (NFTs).
  • These tokens can’t be exchanged for anything of equal value since they are one-of-a-kind.
  • Each ERC-721 represents the value of the respective NFT, which may differ.
  • The most popular application areas of ERC-721 tokens are NFTs in gaming.
  • ERC-1155 is a smart contract interface representing fungible, semi-fungible, and non-fungible tokens.
  • ERC-1155 can perform the function of ERC-20 and ERC-720 and even both simultaneously.
  • Each Token can represent a different value based on the nature of the token; fungible, semi-fungible, or non-fungible.
  • ERC-1155 is applicable for creating NFTs, redeemable shopping vouchers, ICOs, and so on.

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