Different Token Standards

In this article we are going to describe ERC 20 tokens / ERC 721 tokens and ERC 1155 tokens:

ERC 20:

-This is the token standard from all cryptocurrencies
-It´s a fungible token, meaning one token can be exchanged for another token with the exact same value (Ex: 1 ETH=1ETH)
-Each ERC 20 token is exactly the same

ERC 721:

-This is a Non Fungible Token, this meaning each token is completely different from the others and there are not two tokens (NFTs) that have the exact same value
-They are one of a kind Tokens

ERC 1155:

-This token can be fungible, semi-fungible and non fungible
-Can perform like a ERC 20 token and a ERC 721 token or bouth at the same time
-It can be used to create NFTs, tickets, shopping vouchers...

ERC 20 and ERC 721 are used to release individual fungible and non fungible tokens, whereas ERC 1155 can release several tokens all at once.

Updated on: 17/04/2022

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