Ethereum Token Standards
•
0 likes•5 views
BlockchainX's expert developers have answers for you with state of the art ERC20 Token Development service.
Recommended
Recommended
More Related Content
Similar to Ethereum Token Standards
Similar to Ethereum Token Standards (20)
Recently uploaded
Recently uploaded (20)
Ethereum Token Standards
- 2. What is an ERC? The Ethereum Request for Comments is known by its acronym, ERC. This idea is modeled on the Request for Comments published by the Internet Engineering Task Force (IETF) and the Internet Society (ISOC), which are the main technical development and regulatory bodies of the internet. An Ethereum Improvement Proposal, or EIP, is one kind of proposal
- 3. Ethereum is currently used by the majority of blockchain smart contracts, and the most widely used token standards ERC-223 Token ERC-721 Token ERC-20 Token ERC- 827 Token ERC- 948 Token ERC- 884 Token
- 4. ERC20 Token To comply with ERC20 token development standards, an Ethereum token has to include a specific set of functions that mean they act and They can be used in a certain way. But codifying these principles allows other applications and smart contracts to interact with ERC- 20 tokens in a known, standardized and predictable way. Arguably these are a little more than common sense, since without them the deployment and administration of the tokens would be more than complex
- 5. This proposal seeks to solve the problem of ERC-20 tokens getting stuck when they are sent to a smart contract that is not designed to work withto create ERC20 token. Significant funds have been lost when users have accidentally sent tokens to such contracts. ERC-223 Token
- 6. ERC-721 Tokens Most tokens are 'fungible' - this means that any token is equal to another. Fungibility is an important principle for monetary supplementing – every $10 bill needs to be treated the same way (and be considered equally valuable) as any other, for example. ERC-721 proposes a token standard where tokens are not fungible: each one is unique. ERC-827 Token ERC-20 tokens allow only the transfer of value. ERC827 allow the transfer of values and datas.
- 7. Additionally, third parties may approve spending tokens. The creators of ERC-827 have taken the trouble to keep their code short and maintain full compatibility with ERC-20 tokens. ECR-948 Token This proposal is designed to connect subscription businesses with consumers. Businesses with a subscription model are booming, particularly in sectors such as streaming media (e.g. Netflix). As more and more businesses start using blockchain, it will be important to support subscriptions on Ethereum and other platforms.
- 8. ERC-884 Token Following a recent Bill, Delaware General Corporation Law now explicitly allows the use of blockchain to maintain company share registry. ERC-884 is designed to represent equity issued by any Delaware corporation, both public and private, and includes various provisions over and above ERC20 token that support the use of this use case. This includes the requirement for token owners to be whitelisted/identity verified as an integral part of the token.
- 9. SOCIAL MEDIA These are just a few of the many proposals for Ethereum token standards. The beauty of a decentralized system is that anyone can make proposals for improvements and have them considered by the community.