Crypto Academy Season 2 Week 4 Homework Post for @pelon53 - Tokens Part 2

Greetings fellow steemians,

Professor @pelon53 took us through the part 1 of tokens in his previous lecture and now he has given his lecture on the part two of this topic.

After going through his lecture and doing my own research I will now try to complete his homework task.

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Introduction

ERC is a short term for the words Ethereum Requests For Comments.
As the first word suggests this token is used on the ethereum platform.
As we all know tokens that are used on the ethereum platform also function with the help of smart contracts.

Explain the ERC-1155 Token in detail.

ERC- 1155 in simple terms are tokens that are meant to happen different tasks.

As I explained already, tokens are meant to have specific functions, but an ERC- 1155 token possess different functions.

We can may say they do a little bit of everything that tokens are supposed to do.

This token was created in 2018 and it is used on the ethereum blockchain.

The ERC- 1155 tokens are also implemented by smart contracts.

The ERC-1155 token was designed specifically for video game industries even though it can also be used by other industries.

But this type of token is mostly used by gamers.
Because gamers create all sort of tokens when they are playing games on the blockchain, a new concept of token had to be adapted in order for these tokens to be sent ,received or even processed at once.

The ERC-1155 is able to support these because of it's multi-functional nature.

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

ERC-721

ERC-721 tokens can also be referred to as Nfts.
Nfts is a short term for Non fungible tokens.
As its name suggest's these tokens are unique.

For a token to be qualified as an ERC-721 standard, they should possess their own unique set of characters which cannot he found in any other token.

The following are the ways to verify the amount of ERC-721 tokens existing at the time of doing my homework.

a) Search for https://etherscan.io on google.

b) After opening the site click on tokens as indicated by the red shape.

c) On the drop down menu click on ERC-721 top tokens as indicated by the red shape.

d) As seen and indicated by the red shape at the time of doing my homework the number of ERC-721 tokens were 11,092.

Explain the TRC-20 Token and check the amount of TRC-20 tokens existing at the time of doing your homework. Present screenshot (use tronscan)

This is a token type based on TRON.
The TRC-20 token is used in creation of games and other functions too.

It has the features of smart contracts. It is a token which is similar to that of ERC-20 because they perform the same functions.

They possess the same codes that is scrip codes to be precise. A good example of this token is the USDT-Tether. The fees involved in making of transactions on TRC-20 token is very low which makes it a merit of it. The speed of transactions is also very fast and safe with this token type.

how to check the number of existing TRC-20 tokens using tronscan

a).Click here to open tronscan on google.

b) Place your mouse pointer at tokens as indicated by the red shape.

c) Click on tron tracker as shown by the red shape.

d) from the resulting screen, click on TRC-20 as indicated by the red shape.
It can be seen by the black shape that at the time of doing my homework the number of TRC-20 tokens are 15,938.

Conclusion

After careful examination of the professor's lecture I have done my homework task rather enjoyably.

Thank you.