What are Token Standards?

Token standards are protocols for representing digital assets on the blockchain. Some examples of token standards include ERC-20, BEP-20, ERC-721, TRC-20, and OMNI. These standards define a token contract's functions and characteristics, such as how the tokens can be transferred and what information they transfer. In addition, different blockchain platform applications allow different tokens to be easily exchanged and understood. The Difference Between Coins and Tokens Coins and tokens are both types of digital assets that are built on top…

Ethereum (ETH) Token Standards

Ethereum token standards are protocols for creating and issuing tokens on the Ethereum blockchain. These standards provide a set of rules that must be followed for a token to be compatible with Ethereum wallets and other Ethereum-based smart contracts. Several different token standards have been developed for Ethereum, including ERC-20, ERC-721, and ERC-1155. Ethereum Popular Token Standards The most popular token standard on Ethereum is ERC-20, which defines a set of rules for creating a fungible token (i.e., interchangeable) that…