Homework Task-Steemit Crypto Academy | Week 12 | Course By @pelon53

(A). Explain the ERC-1155 Token in detail.

The ERC-1155 token is a new type of digital standard token created by Enjin within Ethereum with the ability to change the landscape of DApps within this blockchain to create fungible tokens like Cryptocurrencies and non fungible tokens like art images,cards, musics, games, recipes etc.

It has a multitoken functionality that is storable under its control, it can take place of ERC-20 or ERC-721 token, or both of the two at same time under the same address by improving the functionality of the two standards tokens as well.

Thus, making it more efficiently standard and addressing known errors of implementation on the ERC-20 and ERC-721 standards. ERC-1155 have a new multiples of functions that were designed to give the user a better experience and easy programmin procedures.

ERC-1155 tokens were created so as To cut off the incompatibility and limitations of the ERC-20 token and ERC-721 token and also the traversing problem of ERC-721.

The token, ERC-20 have a very obvious limitations with regard to transfer where any transactions that would be erroneously made to wrong address can never be recovered likewise the ERC-721 limitations is that the user has to pay for every single transaction even if it is to a single person and that increase the cost of charges for transaction to be high thus limiting user to the ethereum network.

ERC-1155 is created to solve the existing problem and give the user the interface for easy programming, simple designing features and more secured operation, multiple transfer standard with single commission charges, different token type detection, many amount of tokens in a single contract.

It can even prevent the enormous fragmentation that is happening these days. This new standard shows more importance and advantages compared to ERC-20 and ERC-721 and it's taking up space and becoming more popular as time goes.

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

Updating the information of token on Etherscan required that the address of the token contract should be verified first. This is important so as to be sure of the contract code is certainly what is being transferred in the Blockchain and to make the contract audittible and readable for everyone.

As a contractor, there are different steps to follow in verification of a token.
To verify and publish the amount of ERC-721 on Etherscan

Open the app and write anything in the search box that would take you to the Etherscan home

On getting to the main interface, tap on the three lines at the right hand top of the screen.

Tap on more and Select verify contract
Enter the contract address to be verified and fill and select the complier version and type and check the terms and condition box to accept, then click on continue.

Scroll down and fill out the constructor argument forms at the next page and check Google

RECAPTCHA and Tap verify and publish.
A Page will appear with the code which is filled with the details of the contract and will be made public for Etherscan users

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

As we are all aware of the existence of cryptocurrency and Blockchains that is taking up spaces in this modern world, new crypto token is always evolving and every crypto token created tends to have it's unique features and functions and their prices also differs accordingly.

Just like ERC-20 for example, created on the ethereum network just after the arrival of Ethereum. TRC20 also is another token that was created on a popular token development platform called Tron which is a stable platform that was first introduced in September 2017, by Justin sun with some set of objectives looking forward to achieve.

What makes Tron platform to stand out of all is it's stronghold capacity of handling thousands of transaction in just a second.

TRC20 token a technical standard with a smart contract foundation is among the popular tokens of Tron in the Blockchain marketplace that starts getting the attention of crypto maniacs in the Blockchain system.

It is a risk free token thus helping the crypto traders to have a secured transaction and this is making it to be more popular among the users.

TRC20 is very useful in handling a very bulky transaction that TRC10 cannot handle, and also has a very high bandwidth capacity and full of energy level.

TRC20 is a better choice for new start-up and entrepreneurs that wants to go into crypto market easily and raise billions of funds effectively.

There are a total number of 15,982 TRC20 tokens at moment of writing this homework with thousand accounts of users on the Tronscan website.

@pelon53