Crypto Academy Week 12 | Homework Post for @pelon53 | Tokens, Part 2.

Hi prof.@pelon53, I am very happy to be part of this lecture. I must say that the explanation to this lecture was well understood. In the previous class you digested well on tokens.

Explain the ERC-1155 Token in detail.

First of all lets get to know the full meaning of ECR. ECR means Ethereum Requests for Comments which are Ethereum's technical documents for smart contract developers. They lay out a set of guidelines for implementing tokens in the Ethereum ecosystem. To name a few, there are several different forms of ERC tokens. ERC-20, ERC-223, ERC-721, ERC-777, ERC-884, and ERC-1155 are only a few examples. For the purpose of this assignment, I want to focus my attention on the ERC-1155 token.

Enjin developed the ERC-1155 digital token standard, which can be used to build both fungible and non-fungible assets on the Ethereum Network.
They can be used to describe properties or objects in Enjin's blockchain games ecosystem. As a result, a single asset can be used in a variety of games. The ERC-1155 token also stores tokens that behave like ERC-20 or ERC-721 tokens, or both, under the same address. Lets take a look at how ERC-1155 can be used to create fungible and non-fungible tokens. Lets take fungible first.

The ERC-1155 specification enables large-scale token transfers directly from a smart contract's tokens. For instance , if we have a series of NFT tokens or fungible tokens (or both), we can move many of these tokens in a single process, making the transfer efficient.
The stable token transfer is by far one of the most promising features of the ERC-1155 token. To accomplish this, the ERC-1155 standard smart contract includes a feature that checks to see if the transaction was completed and, if it wasn't, returns tokens to the issuer.

To summarize, ERC-1155 was created to bring both worlds together under a single contract, overcoming the limitations of the other ERC tokens and making their management more effective. Furthermore, this approach will prevent the current massive token fragmentation by allowing the same form of contract to manage both types of tokens.

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

• First of all go to google and search etherscan.io
• Click the etherscan.io that appears first.
• On the etherscan.io Homepage, tap on the three horizontal lines by the top-right of the page to explore more options.
• Click on tokens
• select ERC-721 Top Tokens.

The number of the ERC-721 Tokens available at the moment is shown which is a total of 11,108 ERC-721 tokens

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

The TRC-20 token standard is used to program tokens on Tron. Since Tron is a public blockchain, everyone can create their own TRC-20 token with the same basic set of rules, and their token can communicate with any of the other Tron applications.

TRC20 is basically a technical standard that is built on the use of smart contracts when creating and launching a TRC20 token on the Tron blockchain. TRC20 is the Tron blockchain's native token standard. TRC20 tokens are one of the most widely used tokens on the market. As at the time of writing this post TRX was around 0.1455$ which was also ranked 20th. It also had a market cap of 9.984Bn, Total supply of 100.851Bn TRX.

TRC20 standard tokens allow traders and investors to conduct risk-free token transactions. Even though TRC-20 tokens have the same functionality as ERC-20 tokens, users prefer TRC-20 to ERC- 20 due to higher fees and poor user interface.

How to check the amount of TRC20 tokens available

• Go to tronscan.io/
• Tap the three horizontal lines by the top-right corner of the page.
• Select token
• Click Token Tracker.

The total number of tokens available as at the time of writing is 15,991 tokens

To the attention of prof. @pelon53. Thank you for this wonderful lecture