Crypto Academy Week 12 - Homework Post for @pelon53 | ERC tokens

Hello steemians, I am here to submit my homework post for @pelon53 for the wonderful lecture on ERC tokens. As time goes on, this community is becoming more useful and educative as well. I would like to acknowledge the crypto Academy community and the professors for giving us such a big opportunity to educate us about the crypto world.

Without wasting enough time, I would present my homework.

1) Explain the ERC-1155 Token in detail.

The ERC -1155 is basically one of the newly developed tokens in the blockchain Ethereum platform. The Ethereum itself is a decentralised platform that runs smart contracts. As we all know, every blockchain platforms has tokens. However, the most common tokens on the Ethereum blockchain now is the ERC-20 tokens. These tokens are fungible tokens. Meaning it can be used in tradings and can be exchanged. We have the ERC-721 which are also Non fungible. Meaning it can't be used in tradings but rather serves a different purpose.

The ERC-1155 tokens is a very special token which can be used to create fungible, non fungible and semi fungible tokens. Basically, the ERC-1155 Tokens acts like a combination of both the ERC-20 and ERC-721.

Someone may ask why is it necessary for the creation of the ERC-1155 since the job could be done by both the ERC-20 and ERC-721.

The main reason for creating the ERC-1155 was gaming. Gaming consists of both fungible and non fungible asset. I mean both currencies and collectables like arrows, swords, shield etc. It requires two smart contracts (the us of ERC-20 and ERC-721) in Exchanges of currencies (fungible) and the weapons (non fungible) which could be complicated. However, the ERC-1155 can allow just one smart contracts to tackle all the tokens.

Basic features

• The ERC-1155 runs more transactions simultaneously compared to both the ERC-20 and ERC-721

• The ERC-1155 tokens are used to create both ERC-20 and ERC-721 tokens. (used for multiple purposes)

2)Explain how you verify the amount of ERC-721 tokens existing at the time of doing your homework. Present screenshot (use etherscan)

Step 1

Open etherscan from your browser

Step 2

click the menu bar (the three horizontal parallel lines) at the top right click on tokens from the drop down menu

Step 3

click on ERC721 top tokens from the drop down

Step 4

The amount of ERC-721 tokens would be displayed

amount is 11098 ERC-721

3)Explain the TRC20 Token and check the amount of TRC20 tokens existing at the time of doing your homework. Present screenshot (use tronscan)

The TRC20 Tokens

Just like having the ERC-20 tokens on the Ethereum blockchain platform, The TRC20 is the common token on the Tron blockchain platform.

The TRC20 is also used in smart contracts and aslo has a low transaction fee compared to the ERC-20.

A large numbers of people can easily use ths TRC20 because the tron network is available on most devices. Looking at the tron platform, the charges are almost negligible because of the value of tron.

The TRC20 can also be used on decentralised platforms and can be exchanged as well.

How to check the amount of TRC20 using tronscan.

Step 1

open tronscan in the web browser

Step 2

click the menu bar (the three horizontal parallel lines) at the top right and click on tokens from the menu that appears

Step 3

click on token tracker from the next menu

Step 4

Click on TRC20 the amount of TRC20 would be displayed.

THE TOTAL AMOUNT OF TRC20 IS 15950

CONCLUSION

After the presentation and my research on the ERC-1155 , the Roadmap of the ERC-1155 has been very useful in combining both task of the ERC-20 and ERC-721 in just a single smart contract.