What is the difference between ERC 20 and ERC 1155?
ERC 20 are designed and used solely on the ethereum platform
ERC1155 uses a single smart contract to represent multiple tokens at once
I believe this will be a little helpful
- ERC20 - ERC20 is a protocol standard that implies rules and standards to issue tokens on ethereum network. It’s an official protocol for proposing improvements to the Ethereum (ETH) network. ERC stands for Ethereum Request for Comment, and 20 is the proposal identifier. This token standard defines a set of rules that apply to all ERC20 tokens that allow them to interact seamlessly with one another. ERC-20 defines six different functions for the benefit of other tokens within the Ethereum system. These are generally basic functionality issues, including the method in which tokens are transferred and how users can access data regarding a particular token.
- ERC1155 -ERC1155 is an another token standard that are created by ENJIN team that can create both fungible tokens (like erc20) and non fungible assets (cryptokitties). ERC-1155 tokens are secure, tradable and immune to hacking. ERC-1155 a new way of creating tokens that allow for more efficient trades and bundling of transactions – thus saving costs. The core concept behind ERC-1155 is that a single smart contract can govern an infinite number of tokens. Erc1155 allows multiple tokens send, further improvements and so on.
Thank you for sharing detail explainations
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Thanks to this info, another new learning for me today.
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What is an ERC20 token?
An ERC20 token is a blockchain-based asset with similar functionality to bitcoin, ether, and bitcoin cash: it can hold value and be sent and received.
What is ERC-1155?
ERC-1155 is a digital token standard created by Enjin that can used to create both fungible (currencies) and non-fungible (digital cards, pets and in-game skins) assets on the Ethereum Network. By using the Ethereum network, ERC-1155 tokens are secure, tradable and immune to hacking.