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Crypto Conversations | ERC-1155: Why this Ethereum standard is special
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The Ethereum blockchain hosts a slew of tokens, and not all of them are created similarly. For instance, some Ethereum tokens are fungible and easily interchangeable (most of these follow the ERC-20 standard) while some others are unique- called the non-fungible tokens or the NFTs.
Therefore, the blockchain has different token standards for each of these different use cases. (image) As time goes by, the Ethereum blockchain keeps introducing newer ERC token standards to keep up with the evolving crypto...
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