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Token Standards on EVM Chains - BEP20 vs ERC20 vs TRC20 Comparison
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Token standards are the set of rules, conditions, and functions that dictate how a crypto token works. Before delving into token standards, it is helpful to understand the mechanisms of a smart contract standard. Fundamentally, smart contract standards are rules that a smart contract must comply with in order to function as intended on the underlying blockchain network.
These standards are application-level specifications, such as token standards, name registries, and library-package formats. With this set of smart contract standards and clearly defined parameters, anyone with sufficient knowledge may create their own ERC token. In short, these standards enable smart contracts to perform their basic functions.
Token standards are a subset of smart contract standards. For blockchains that support smart contracts, token standards represent a guide for the creation, issuance, and deployment of new tokens on them.
Most blockchain smart contracts currently use Ethereum, and the most common token standards are ERC-20, ERC-721, ERC-777, and ERC-1155.
#ERC20 #BEP20 #CRYPTO
These standards are application-level specifications, such as token standards, name registries, and library-package formats. With this set of smart contract standards and clearly defined parameters, anyone with sufficient knowledge may create their own ERC token. In short, these standards enable smart contracts to perform their basic functions.
Token standards are a subset of smart contract standards. For blockchains that support smart contracts, token standards represent a guide for the creation, issuance, and deployment of new tokens on them.
Most blockchain smart contracts currently use Ethereum, and the most common token standards are ERC-20, ERC-721, ERC-777, and ERC-1155.
#ERC20 #BEP20 #CRYPTO
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Token Standards on EVM Chains - BEP20 vs ERC20 vs TRC20 Comparison
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