After the emergence of Blockchain technology, various business people had benefited from it. By using this technology, many crypto businesses getting more popular and are also carried out by many startups, and entrepreneurs.
Among the various blockchains, Ethereum is a prominent blockchain network, especially for crypto token development. So that it gets more demand and popular in the crypto industry. It comprises many different token standards for Ethereum token development. Apart from various Ethereum token standards, ERC20, ERC721, and ERC1400 well developed token standards.
Here get a detailed look at each of the above-mentioned token standards,
ERC20 - The best token standard for fungible token development. It has the best token functionalities. Currently, emerging startups are preferring ERC20 token standards for ICO fundraising to get funds easier. That's why, it is considered the industry-specified token standard.
ERC721 - The best token standard for non-fungible token development. It is an ideal token standard, which is firstly developed for NFT development. It comprises unique features and functionalities to create NFT tokens with solitary functions.
ERC1400 - It is the most preferred security token standard for security token development in the crypto marketplace. In fact, ERC1400 is combined with ERC20 and ERC777 standards. By creating a security token, you can launch the STO platform safely.
Advantages of creating Ethereum tokens -
- Simple and easy to deploy
- Secure and faster transactions
- Highly used for fundraising platforms like ICO and STO
- Have higher liquidity
- Reduced risk level
- Due to wide usage and familiarity, Ethereum tokens can generate high revenue.
I hope you may get some clarity about Ethereum token standards and the advantages of creating Ethereum tokens.
If you are a startup, have a plan to create Ethereum-based crypto tokens for your business growth? Then, the next important factor to consider is finding the right Ethereum token development company.
Look out for the eminent Ethereum Token Development company to get the best services. They will assist you to create your tokens on your desired token standard with the latest features at an affordable cost.