The ERC-1155 digital token standard was developed by Enjin to provide enhanced security compared to previous token standards.
Monthly Archives: November 2023
ERC-20 tokens are specifically created and utilized exclusively on the Ethereum blockchain.
ERC-223 is a token standard on the Ethereum platform. It operates through the use of smart contracts, which provide a secure means for users to transfer tokens to their digital wallets.
Fiat currency, known as “legal tender,” is supported by a central government, like the Federal Reserve, and operates alongside its own banking system, such as fractional reserve banking. This type of currency can exist in physical form or as electronic money.
ERC-721 is a token standard specifically designed for non-fungible tokens (NFTs) on the Ethereum blockchain. This standard provides a set of rules and guidelines for creating and managing unique digital assets that cannot be exchanged on a one-to-one basis like traditional cryptocurrencies. Unlike fungible tokens, such as ERC-20 tokens, ERC-721 tokens are indivisible and cannot be replaced with another token of the same value. Each ERC-721 token is unique and can represent ownership or proof of authenticity for a specific digital asset, such as artwork, collectibles, or virtual real estate. This standard has gained significant popularity in the world of blockchain-based digital assets, enabling the creation and trading of unique and scarce items on decentralized marketplaces. The use of ERC-721 has opened up new possibilities for artists, creators, and collectors to tokenize and monetize their digital creations in a secure and transparent manner. With the rise of NFTs, ERC-721 has become a crucial component of the Ethereum ecosystem, revolutionizing the way we perceive and interact with digital assets.
ERC-777 is a token standard that can be traded and is derived from ERC-20. It allows for a different approach to interacting with a token contract, while still maintaining compatibility with previous versions.
Escrow is a financial instrument that involves the holding of assets or cash by a third party. This occurs while a buyer and a seller finalize a transaction.
Electronic sports, also referred to as e-sports, is a phrase utilized to describe competitive gaming in the digital realm. This form of gaming involves players engaging in battles against one another, either individually or as part of a team, typically within a competitive setting.
Ethash serves as the algorithm employed in the process of proof of work mining for Ethereum and other cryptocurrencies based on ETH.
Ether is the preferred mode of payment utilized in the functioning of Ethereum, the distribution application platform.