What is the ERC 1155 multi token standard?

The ERC-1155 multi token standard lets developers manage multiple fungible and non-fungible tokens and token standards under one contract. ERC token standards are defined features of tokens that run on the Ethereum blockchain. ERC-20, ERC-721, and ERC-1155 are some of the most popular ERC token standards, along with ERC-777.

How does ERC-1155 work?

ERC-1155 solves for this by combining the two token standards. ERC-1155 is a token standard that enables the efficient transfer of fungible and non-fungible tokens in a single transaction. Witek Radomski, Andrew Cooke, Philippe Castonguay, James Therien, Eric Binet, and Ronan Sandford proposed the new standard in June 2018 with EIP-1155.

What are the advantages of ERC 1155 vs ERC 20?

The advantage of ERC-1155 is that it allows the creation of many different tokens under the same contract ( with ERC-20, a new contract needs to be deployed for every token). ERC-1155 is more suitable for multi-token economics, for example if a project has one token is designated as a security token (STO) and another Utility token.

Do smart contracts implement the ERC-1155 standard?

Smart contracts implementing the ERC-1155 standard MUST implement all of the functions in the ERC1155interface. Smart contracts implementing the ERC-1155 standard MUST implement the ERC-165 supportsInterfacefunction and MUST return the constant value trueif 0xd9b67a26is passed through the interfaceIDargument.