From our previous class, we learnt about tokens and the purpose for which they were created and how they have specified functions. The ERC-1155 works on the Ethereum blockchain through smart contracts and performs functions that are carried out by the ERC-20 and ERC-721. That is, it allows creation of fungible and non-fungible tokens within the same standards. ERC-1155 was created for efficiency and far less easy transactions between fungible and non-fungible tokens.

Games are one of the main reasons for the creation or ERC-1155 tokens. Games have collectibles and currencies also. There are times you want to trade your items for gold or use your gold to purchase some other items or collectibles. With ERC-20 and ERC-721 it is only possible to trade just fungible tokens like gold coins in games for other fungible tokens like rubies with the case of ERC-20, and just non-fungible tokens like a tier 1 helmet for another non-fungible token like a health potion with ERC-721. What do you do when you want to trade your potion for gold to purchase another collectible? This is where ERC-1155 comes in.

ERC-1155 is the combination of the two functions. It allows you to trade gold for rubies or potions for either gold or rubies and also trade potions for other collectibles. Basically it allows for a single smart contract to handle the tokens.

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How to Verify the Amount of ERC-721 Tokens

To verify the amount of ERC-721 tokens existing currently visit etherscan.io. Click Tokens at the top.

Now select ERC721 Top Tokens

Now you can tell the number of ERC-721 tokens available as provided by Etherscan. The number of tokens currently available are 11,044.

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TRC20 Token

TRC20 token is a standard Tron token that works on the Tron blockchain. It involves smart contracts just like ERC-20 tokens and also has many similarities with the ERC-20 token. The only difference with the smart contracts is that Tron uses a virtual machine called Tron Virtual Machine(TVM) which works on the smart contracts. TRC20 token is also compatible with Ethereum.

How to Check the Amount or TRC20 Tokens

To check the number or TRC20 tokens available you first have to visit tronscan website.
Click Tokens

Now select Tron Tracker

Click TRC20

Now you can see the number of TRC20 tokens available. Currently there are 15,816 TRC20 tokens.

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Conclusion

It's very important to know about the different types of tokens and their functions. This would help you in your token creation and help you get the right functions and qualities you want your tokens to posses. I'm glad I partook in this class. I'm learning a lot. Thanks once again @pelon53. I hope you like my work.