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Token Standards

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Introduction

Many Ethereum development standards focus on token interfaces. These standards help ensure smart contracts remain composable, so for instance when a new project issues a token, that it remains compatible with existing decentralized exchanges.

Prerequisites

  • Ethereum development standards
  • Smart contracts

Token standards

Here are some of the most popular token standards on Ethereum:

  • ERC-20 - A standard interface for fungible (interchangeable) tokens, like voting tokens, staking tokens or virtual currencies.
  • ERC-721 - A standard interface for non-fungible tokens, like a deed for artwork or a song.
  • ERC-777 - ERC-777 allows people to build extra functionality on top of tokens such as a mixer contract for improved transaction privacy or an emergency recover function to bail you out if you lose your private keys.
  • ERC-1155 - ERC-1155 allows for more efficient trades and bundling of transactions – thus saving costs. This token standard allows for creating both utility tokens (such as $BNB or $BAT) and Non-Fungible Tokens like CryptoPunks.
  • ERC-4626 - A tokenized vault standard designed to optimize and unify the technical parameters of yield-bearing vaults.

Further reading

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