in

Understanding Ethereum Tokens: ERC-20, ERC-223, ERC-721, ERC-777 Compared

ERC stands for Ethereum Request for Comments and is followed by a number. This number will indicate what the token is capable of doing, and how it will interact with smart contracts and other dapps: [Understanding Ethereum Tokens](https://www.oobit.com/blog/understanding-ethereum-tokens/)

* ERC-20 – the most popular of the Ethereum token standards (used by BNB, USDT, LINK)
* ERC-223 – incorporate tokenFallback technology which ensures that should the token be sent to a smart contract that does not work with that particular type of token, the tokens are returned to the original address.
* ERC-721 – are non-fungible tokens (NFT), that cannot be replaced or replicated, can represent ownership over an asset.
* ERC-777 – a revised version of ERC-20 with features like offering users more control over their tokens and allowing operators to send tokens on behalf of other addresses.



View Reddit by thumbsdrivesmecrazyView Source

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

6 Comments

Loading…

0

What do you think?

Akon launches AkoinNFT to empower artists

ETH ready to launch to $2,000 as technical align

Ethereum (ETH) Price Skyrockets $2100 Levels With Address Activity Hitting 35-Month High