The ERC-20 standard has dominated the crypto asset space for years. Let’s dive into the ERC-20 standard, an important framework for creating tokens.
– each unit is interchangeable with another. If you held a BinanceAcademyToken, it wouldn’t matter what specific token you had. You could trade it for someone else’s, and they’d still be functionally identical, just like cash or gold.
This isn’t a problem exclusive to Ethereum. Rather, it's a necessary trade-off in secure, distributed systems. The community plans to address these problems in the migration toLearn more about scalability issues inWhile not an issue with the technology itself, the ease with which a token can be launched could be considered a downside in some respects. It takes minimal effort to create a simple ERC-20 token, meaning that anyone could do it – for good or for bad.
Some of the less common standards are the ones used in non-fungible tokens . Sometimes, your use case actually benefits from having unique tokens with different attributes. If you wanted to tokenize a one-of-a-kind piece of art, in-game asset, etc., one of these contract types might be more appealing.standard, for instance, was used for the immensely popular CryptoKitties DApp. Such a contract provides an API for users to mint their own non-fungible tokens and to encode metadata .
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