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ERC-20
The most well-known standard for fungible tokens is called ERC20, and it was put forth by Vitalik Buterin, the man behind the Ethereum concept, back in 2015. This token is widely used for various types of initial offerings. I avoid the terms ICO and IEO, because these are now far from the only ways to conduct a public offering of tokens (but that’s not what the article is about).
Specifics: interchangeable standard, has a ticker for exchanges, divisible (the number of decimal places is determined by the creator of the smart contract), must have a total supply (the number of tokens, more than which cannot be issued).
ERC-721
Tokens that are unique are frequently created using this standard. Land in Decentraland , Binance Collectibles , here are examples of ERC-721.
ERC-721 was proposed as an EIP (Ethereum Improvement Proposal) by Dieter Shirley in 2017, became official in 2018.
Specifics: non-fungible standard, no ticker, indivisible, necessarily exists only in a single copy.
I won't linger on ERC-721 because, like ERC-20, it is widely used.
ERC-1155
The idea of this standard was proposed by the developers of the Enjin project in 2018. Enjin is a project that strives to simplify the creation of games on Ethereum. Therefore, the standard they proposed should first be considered as a gaming standard, although its application is not limited to this.
Specifics:
- enables you to issue several tokens within a single contract;
- tokens in one contract can be fungible and non-fungible at the same time;
- supports atomic swaps;
- supports “batch” transactions;
- Not all transactions require waiting for the end of the block.
If the first two points are clear, then the third and fourth may raise questions. First, let's look at atomic swaps.
VISIT : https://www.blockchainx.tech/erc20-token-development/