The ERC-1155 is a versatile Ethereum token standard that enables a single smart contract to manage multiple token types, including fungible, non-fungible, and semi-fungible tokens, optimizing efficiency and reducing transaction costs.

ERC-1155 Explained

Date: May 9, 2023 | Updated: May 24, 2023

The ERC-1155 is a groundbreaking multi-token standard on the Ethereum blockchain. It enables the creation of both fungible and non-fungible tokens (NFTs) under a single smart contract. This innovation streamlines processes and cuts costs significantly.

Comparing ERC Standards

Understanding the differences between ERC-20, ERC-721, and ERC-1155 is key. ERC-20 tokens are fungible, like Bitcoin, where each unit is identical to another. ERC-721 tokens are unique, non-fungible tokens used for digital collectibles and art. They cannot be split into smaller units and each has a unique identifier.

ERC-1155 stands apart by allowing a single contract to manage multiple token types, including semi-fungible tokens (SFTs). This makes it a versatile and efficient standard for developers on the Ethereum network.