Standardisation is critical to enabling effective decentralization.
Ethereum Token Standards
A standard interface for fungible (interchangeable) tokens, like voting tokens, staking tokens or virtual currencies.
A standard interface for non-fungible tokens, like a deed for artwork or a song.
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 enables more efficient trades and bundling of transactions to save costs. This standard enables creating both utility tokens (such as $BNB or $BAT) and Non-Fungible Tokens like CryptoPunks.
|Token Taxonomy Framework|