Crypto Academy week 12-Homework post for[@pelon53]||Tokens (Part 2)

in SteemitCryptoAcademy3 years ago (edited)

EXPLAIN THE ERC-1155 TOKEN IN DETAILS?.

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The ERC-1155 token is a kind of token that has the capability to save under it other tokens that look like they are ERC-721/ERC-20 and also store them the same time applying same address. interesting part is that, it modifies the function of the two standards, making them more reliable and also to correct the mistakes on the ERC-721 and ERC-20 standards.
WHY WAS THE ERC-1155 CREATED?
The ERC-1155 was created to solve the:

  1. Limitations of the ERC-20 Token:
    Take for instance, ERC-20 token, the main limitation, its the way it reacts to transfer events.it hangs up tokens in contracts when tokens are mistakenly sent to the wrong address.your transfers will be lost if transfered to the wrong address.

  2. Limitations Of The ERC-721 Token
    For instance, getting a straight token identifier is not possible,this issue causes transactions having these tokens to be difficult. The second problem there is that of traversing the tokens
    WHAT CAN REALLY BE ACHIEVED WITH THE ERC-1155

  3. Massive transferring as standards: it can make massive transfers of tokens added in a contract. several tokens can be transferred.

  4. Two tokens same contract: it is capable of creating more than one fungible token just like the ERC-20 and also can explain more than one non fungible token just like the ERC-721 in same contract.

  5. Token type detection: it can adapt once it detects the interface of a particular token because of its multi-token origin.

  6. Token transfers secured: it helps in voiding or reversing token to the owner when there is an error of addresses.

EXPLAIN HOW TO VERIFY THE AMOUNT OF ERC-721 TOKENS EXISTING AT THE TIME OF DOING THE HOMEWORK.

Login the etherscan website.click on Tokens as shown below

Screenshot_20210503-063800_1.png

it displays a drop down options.you will find ERC-721 Tokens.

Screenshot_20210503-063718_1.png

Here the amount as at the time of the screenshot is 11,038 ERC-721 token contracts found.

Screenshot_20210503-063746_1.png

EXPLAIN THE TRC20 TOKEN AND CHECK THE AMOUNT OF TRC20 TOKENS EXISTING AT THE TIME OF THIS HOMEWORK. WITH SCREENSHOT USING TRONSCAN

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TRC20
A USD-pegged fixedcoin given by Tether. The token completes issuance, holding and transfer via smart contract on TRON, with a completely free and open process, 0 transfer fee, and fast delivery. It is also integrates into other programs that are highly stretchable formed on smart contract.

Advantages

  1. it is very easy to link up with Dapp eco-system
  2. it Ensures fiat value
  3. it's totally free and open process, 0 transfer cost, and fast delivery
  4. it helps to develop TRON Dapps

login on the website tronscam.com. click on the menu options

Screenshot_20210503-071431_1.png

click on Tokens over view

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Here we can see the total tokens

#pelon53-s2week4 #cryptoacademy

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