Report post

What is ERC-1155 token?

The idea is simple and seeks to create a smart contract interface that can represent and control any number of fungible and non-fungible token types. In this way, the ERC-1155 token can do the same functions as an ERC-20 and ERC-721 token, and even both at the same time.

What is multi-token standard?

A standard interface for contracts that manage multiple token types. A single deployed contract may include any combination of fungible tokens, non-fungible tokens or other configurations (e.g. semi-fungible tokens). What is meant by Multi-Token Standard?

Is ERC 1155 fungible?

While ERC-20 tokens are fungible and ERC-721 tokens non-fungible, ERC-1155 is a multi token standard - the same token contract may include any combination of fungible tokens, non-fungible tokens or semi-fungible tokens. Fungible tokens work like currency. A $5 bill may be exchanged with another $5 bill without any difference in value.

What is a non fungible token?

Non-fungible tokens are unique and noninterchangeable, like a painting or book. Prior to ERC-1155, the two predominant token standards were ERC-20 for fungible tokens and ERC-721 for non-fungible tokens. They could not (and cannot) be wrapped into the same smart contract.

Related articles

Canadian Authorities Initiate New Project to Combat Crypto Fraud

Canadian Authorities Initiate New Project to Combat Crypto Fraud2024-09-06 09:48:40The Alberta Securities Commission (ASC) has collaborate […]

Canadian Crypto Exchanges Faces Deadline For CIRO Membership

Canadian Crypto Exchanges Faces Deadline For CIRO Membership2024-08-06 23:33:50Canadian crypto exchanges face a looming deadline to comply with new regulations, specifically CIRO membership. With the crypto deadline approaching, exchanges are scrambling to adapt and ensure regulatory compliance. The question arises: are Canadian exchanges urgently pursuing regulatory compliance? This article explores the challenges and opportunities facing Canadian crypto exchanges as they navigate the changing regulatory landscape.

Best Ethereum ETFs In Canada For 2024

Best Ethereum ETFs In Canada For 20242024-08-01 02:52:21Discover the top Ethereum ETFs in Canada for 2024, including a comprehensive guide on what Ethereum ETFs are and how they work. Learn about the evolving investments in Ether ETFs like ETHR and CI Galaxy’s ETHX, as well as the purpose and benefits of investing in ETHH. Stay ahead of the curve with our curated list of top Ethereum ETFs for Canadian investors.

Canadian Tribunal Strikes Down Bitfarms’ Poison Pill Against Riot Platforms

Canadian Tribunal Strikes Down Bitfarms’ Poison Pill Against Riot Platforms2024-07-25 15:35:16On Wednesday, Bitcoin mining firm Riot Platforms announ […]

Solana ETFs Could Be Approved Without CME Futures: SOL Price Prediction

Solana ETFs Could Be Approved Without CME Futures: SOL Price Prediction2024-07-21 22:57:17Solana ETFs’ approval prospects and SOL price predictions are gaining momentum, with investors speculating on the potential impact of these funds on SOL’s growth. The outlook is being closely watched, especially during U.S. elections, as market sentiment could shift. While CME futures are not yet a necessity, the ETF approval may serve as a significant catalyst for SOL’s price movement. Stay tuned for updates on this developing trend.

The World's Leading Crypto Trading Platform

Get my welcome gifts