The blockchain industry has evolved significantly, introducing various token standards to serve different purposes. The most widely used standards include ERC-20, ERC-721, ERC-1155, and the newly emerging ERC-404, each offering unique functionalities in the crypto space.
ERC-20 is the most popular Ethereum token standard, primarily used for fungible tokens. These tokens are interchangeable, meaning each unit holds the same value. They are widely used in DeFi, ICOs, and governance tokens due to their ease of integration into wallets and exchanges.
ERC-721 introduced non-fungible tokens (NFTs), which are unique and cannot be replaced or exchanged on a one-to-one basis. This standard powers digital art, collectibles, and gaming assets, allowing true ownership and scarcity on the blockchain.
ERC-1155 is an advanced token standard that supports both fungible and non-fungible tokens within a single contract. This makes it ideal for gaming platforms and metaverse applications, where users interact with various asset types, including in-game currency and digital items.
ERC-404 is a newer, experimental standard that combines aspects of fungible and non-fungible tokens, allowing partial ownership of NFTs. This innovation is gaining traction in fractionalized NFTs, real-world asset tokenization, and decentralized finance.
Selecting the appropriate token standard depends on your project’s goals. Whether you need a fungible token for trading, a unique NFT for digital ownership, or a hybrid model, expert guidance is crucial.
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