Steemit Crypto Academy Season 2 Week4 | Homework Post for @pelon53 : TOKENS PART 2: ERC-20 and ERC-721

in SteemitCryptoAcademy3 years ago (edited)

ERC-1155 and TRC-20.png

Hello to Everyone
First of all, I wish everyone a good day. Thank you to professor @pelon53 for this nice research assignment. My homework this week will be about ERC-1155 and TRC20. Before explaining the ERC-1155 token, I would like to give small and brief information about Ethereum. I would also like to show you the long spellings of ERC and EIP.

ethereum-coin-on-edge-wo.jpg
source / license

Ethereum

Ethereum was developed by Vitalik Buterin. It works on blockchain technology and has a smart contract function. It is a decentralized system.
ERC, Ethereum Requests for Comments
EIP, Ethereum Improvement Proposal

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ERC-1155

The ERC-1155 token was developed by Enjin (game platform built on blockchain with "ethereum network") in 2018. ERC-1155 is a "multi token". To briefly describe ERC-1155, ERC-1155 is an improvement product. For this reason, it is also referred to as EIP-1155 (Ethereum Improvement Proposal). It is produced to be used in areas where ERC-20 and ERC-721 are insufficient. We can say that by taking the good sides of ERC-20 and ERC-721, they produced ERC-1155. Blockchain based game where ERC-20 and ERC-721 are insufficient, etc. We can say that it is a token produced for other platforms.
For example: Using the "Ethereum Network" on the ERC-1155 "Enjin" platform, they can be exchanged like ERC-20 and converted into non-exchangeable tokens such as Non-Fungible Token (NFT).
As we mentioned earlier, ERC-1155 is an enhancement token. Let's briefly talk about these improvements.
For example, in ERC-721, you can only send 1 NFT for each transaction. However, this situation changes in ERC-1155. In ERC-1155, we can send more than one NFT in a single transaction. The benefits of this are; for example, You want to send 3 NFT. In ERC-721, you have to make 3 transactions and you have to pay commission for each transaction. In ERC-1155, you can send it at once. This feature provides us convenience and saves you from additional commission fees. Also, since ERC-1155 is compatible with both tokens, it allows us to send both exchangeable and Non-Fungible Token in the same contract.
The advantage over ERC-20 is that in ERC-20, you cannot recover your tokens that you sent to the wrong address. The tokens you send to the wrong address are deleted. This is different for ERC-1155s. Tokens that you sent incorrectly can be returned to your wallet.

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HOW TO DETERMINE EXISTING ERC-721 TOKENS?

Click https://etherscan.io/ first to go to the "Etherscan" website. Next, please follow the steps I showed with the screenshot.

Step 1

ERC-721 SS 1.jpg

Hover the cursor over the box I show in the screenshot.

Step 2

ERC-721 SS 2.jpg

In this step, we click on the "ERC-721 Top Tokens" option that I showed with the box.

Step 3

ERC-721 SS 3.jpg

In this step, there is the total number of ERC-721 tokens generated in the area I show with the box. The total number of ERC-721 tokens is 11.118 at 02:12 on 07/05/2021 in Turkish time.
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Tron.jpg
source / license

TRC20

TRC20 is based on the same logic and similar rules as ERC-20. While ERC-20 is based on "Ethereum Network", TRC20 is based on "Tron Network". Whatever we can do with the ERC-20, we can do it with the TRC20. It is a blockchain product on TRC20. They can be reproduced within certain rules. Its use is increasing very quickly. We can easily say that it is ahead of the ERC-20. Because most of the stock exchanges continue with TRC20. Because it allows us to do our transactions in a more secure way. It is cheaper and more useful than ERC-20. Another difference from ERC-20 is that the decimal number in ERC-20 is up to 6. In TRC20, it is up to 18. Thanks to this feature, they have a larger transaction volume.

TOKEN STRUCTURES TRC-20.
1.Token NameThe name of the token we will create
2.Token SymbolA symbol representing the token we created
3.Total SupplyTotal amount of tokens supplied
4.Token DecimalsThe number of units the token will be divided into
5.BalanceOf a specific address.
6.TransferIt allows the token to be sent to another user, but determines which account it was sent from and from which it was received, as well as the ID.
7. Transfer FormGranting transfer permission to 3rd parties
8. AuthorizeApproval for token transfer

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HOW TO DETERMINE EXISTING TRC20 TOKENS?

To find out the number of TRC20 tokens available, we first go to the "Tronscan" website by clicking here https://tronscan.io/#/. We will then be able to see the current TRC20 token amount by following the steps I showed with screenshots.

Step 1

TRC20 SS 1.jpg

After entering the "Tronscan" site, we click on "TOKENS", where I show it with the box.

Step 2

TRC20 SS 2.jpg

Then, from the menu that opens, click on the "TOKEN TRACKER" section, which I show with a box.

Step 3

TRC20 SS 3.jpg

We choose the TRC type we want to see in this section. We click on TRC20.

Step 4

TRC20 SS 4.jpg

After clicking on TRC20, the current TRC20 token amount is written in the field I show with the box and arrows. The total amount of TRC20 tokens is 15,985 at 02:44 on 07/05/2021 in Turkey time.

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Conclusion

In this lesson, we have covered ERC-20 and ERC-721. In this course, we learned by researching ERC-1155 and TRC20 tokens as per our research assignment given by professor @pelon53. Thanks to this homework, I got very good information about ERC-1155 and TRC20.
I realized how ERC-1155 is a "multi token". I've seen how much convenience ERC-1155 provides on NFT platforms. I saw that the TRC20, on the other hand, made up almost all of the shortcomings of the ERC-20. Since I usually use TRC20, I did not know that the difference between them was so great. I have learned a lot of useful information in this lesson.
Thanks again to professor @pelon53 who helped me learn this information and improve myself a little more.

CC:
@pelon53

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Hola @adamsmoke

Gracias por participar en la Academia Cripto de Steemit.

Escala de Estimación.PuntajeObservación
Explicar ERC-1155.2Bien desarrollado
Verificar Token ERC-721.1
Explicar TRC20.2.25Bien explicado
Originalidad1.15Contenido original
Presentación1.3Se puede mejorar
Calificación7.7

Thanks professor @imagen

Hello professor @imagen. My submission is expiring and no votes have been received yet. Is there anything I need to do? Thank you in advance for your interest.

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