This article provides a detailed explanation of various Ethereum token standards. We welcome suggestions for adding new standards or correcting existing ones. Additionally, we encourage feedback to improve descriptions and clarify relationships between standards, as many explanations are derived from related Ethereum Improvement Proposals (EIPs).
Key Token Standards
ERC-20: Standard Fungible Token (EIP-20)
A standardized API for fungible tokens (homogeneous tokens), enabling transfers and balance tracking.
Related Standards:
- ERC-667
- ERC-777
- ERC-995
ERC-223: Protected Token Transfers (ERC-223)
Addresses ERC-20’s flaw of lost funds due to unsupported contract transfers. ERC-223 ensures tokens behave like native ETH transfers.
Related Standards:
- ERC-667
- ERC-777
ERC-667: TransferAndCall Token Standard (ERC-667)
Prevents accidental token locks in non-ERC-223 contracts. Distinct from ERC-223 but functionally similar.
Highly Related Standards:
- ERC-223
- ERC-777
ERC-721: Non-Fungible Token Standard (EIP-721)
Represents unique assets (NFTs) like digital art or real-world property, enabling ownership tracking and delegation.
Example Use Cases:
- Digital collectibles (e.g., CryptoKitties)
- Real estate titles
ERC-777: Operator-Based Token Standard (ERC-777)
Replaces approvals with operator mappings, reducing gas costs and enabling data attachments.
Related Standards:
- ERC-20
- ERC-223
Specialized Standards
ERC-809: NFT Rental Standard (ERC-809)
Enables leasing NFTs via smart contracts, ideal for shared asset usage.
ERC-864: Shared NFT Ownership (ERC-864)
Allows fractional ownership of NFTs.
Related Standards:
- ERC-721
ERC-1155: Multi-Token Standard
Supports batch transfers of multiple token types (fungible and non-fungible).
Highly Related Standards:
- ERC-888
- ERC-998
FAQs
Q1: What’s the difference between ERC-20 and ERC-777?
A1: ERC-777 uses operators for transfers, reducing gas fees, while ERC-20 relies on approvals.
Q2: Can ERC-721 tokens be subdivided?
A2: No, but standards like ERC-864 enable shared ownership.
Q3: Is ERC-1155 backward-compatible?
A3: Yes, it works with both ERC-20 and ERC-721.
Conclusion
Ethereum’s token standards evolve to address diverse use cases—from fungible assets (ERC-20) to complex NFTs (ERC-721, ERC-1155). Developers should choose standards based on project needs, ensuring compatibility and security.
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### Keywords:
- Ethereum token standards
- ERC-20
- ERC-721
- ERC-1155
- NFT
- Smart contracts
- Fungible tokens