Cryptocurrency Q&A
What is the difference between ERC-20 and ERC-721?
What is the difference between ERC-20 and ERC-721?
Bianca
Sun May 12 2024
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6 answers
1301
Could you please elaborate on the fundamental distinctions between ERC-20 and ERC-721? I'm particularly interested in understanding their unique use cases and the technological disparities that underlie them. As a crypto enthusiast, I've come across these terms frequently but am still a bit hazy on their specific differences. ERC-20 tokens seem to be quite prevalent in the cryptosphere, while ERC-721 tokens appear to have a more specialized role. Could you clarify these points for me, and perhaps also provide some examples of projects that utilize these token standards? Thank you for your time and expertise in this matter.
6 answers
SamsungShineBrightnessRadianceGlitter
Tue May 14 2024
These tokens represent a uniform asset, allowing seamless exchange and trading.
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PulseEclipse
Tue May 14 2024
Conversely, ERC721 tokens are non-fungible, meaning each token is unique and cannot be replaced.
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EnchantedSeeker
Tue May 14 2024
ERC721 tokens symbolize a collection of distinct assets, emphasizing individuality and scarcity.
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Raffaele
Tue May 14 2024
ERC20 and ERC721 tokens vary significantly in their fungibility aspect.
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BlockchainLegend
Tue May 14 2024
Additionally, ERC721 tokens lack divisibility, unlike ERC20 tokens, which can be fractionalized.
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