ERC-1155 Definition
ERC-1155, also known as the Multi Token Standard, is a type of Ethereum token standard that enables a single contract to produce any type of digital asset, including fungible (identical) and non-fungible (unique) tokens. It was developed by the Enjin team and was officially adopted as a standard in June 2019. This standard is an improvement on the ERC-20 and ERC-721 standards, allowing for more efficient creation and management of digital assets on the Ethereum blockchain.
ERC-1155 Key Points
- ERC-1155 is a standard for smart contracts on the Ethereum blockchain.
- It allows for the creation of both fungible and non-fungible tokens within a single contract.
- ERC-1155 was developed by the Enjin team and became an official Ethereum standard in June 2019.
- This standard improves upon previous standards by allowing for more efficient creation and management of digital assets.
- ERC-1155 tokens are commonly used in gaming and other applications that require unique digital items.
What is ERC-1155?
ERC-1155 is a protocol standard that defines how smart contracts can manage multiple token types on the Ethereum blockchain. It is an advanced version of the ERC-20 and ERC-721 standards, which are used to create fungible and non-fungible tokens, respectively. With ERC-1155, a single contract can create and manage an almost unlimited number of both fungible and non-fungible tokens.
Who developed ERC-1155?
ERC-1155 was developed by the Enjin team, a company that provides an ecosystem of interconnected blockchain-based gaming products. The team proposed the standard to the Ethereum community, and it was officially adopted as a standard in June 2019.
When was ERC-1155 created?
The ERC-1155 standard was proposed by the Enjin team in 2018 and was officially adopted as a standard by the Ethereum community in June 2019.
Where is ERC-1155 used?
ERC-1155 is used on the Ethereum blockchain, and it is commonly used in gaming and other applications that require unique digital items. For example, in a blockchain-based game, each game item or character can be represented as a non-fungible token, while in-game currency can be represented as fungible tokens, all within a single smart contract.
Why is ERC-1155 important?
ERC-1155 is important because it allows for more efficient creation and management of digital assets on the Ethereum blockchain. By allowing a single contract to manage multiple token types, it reduces the complexity and gas costs associated with creating and managing multiple token contracts. This makes it easier and more cost-effective for developers to create and manage digital assets.
How does ERC-1155 work?
ERC-1155 works by defining a standard set of rules that a smart contract must follow to manage multiple token types. These rules include how tokens are created, transferred, and destroyed. When a developer wants to create a new digital asset, they can use the ERC-1155 standard to create a smart contract that manages the asset. This contract can then be used to create, transfer, and destroy tokens as needed.
