Riya Garg

A Short Note on the ERC20 Token Standards

The ERC20 token standard is one of the most widely adopted protocols on the Ethereum blockchain. It provides a set of rules and functions for creating and managing tokens.

ERC20 tokens are fungible and interchangeable, making them compatible with various wallets, exchanges, and decentralized applications (DApps). This standard has played a crucial role in the growth and development of the Ethereum ecosystem and the tokenization of digital assets.

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Riya Garg

A short note on the Non-Fungible Token

Non-fungible tokens (NFTs) are unique digital assets that represent ownership or proof of authenticity of a specific item, such as artwork, collectibles, or virtual real estate. Unlike cryptocurrencies, NFTs cannot be exchanged on a one-to-one basis due to their distinct properties.

They leverage blockchain technology to provide verifiable ownership, immutability, and scarcity, revolutionizing the concept of digital ownership and creating new opportunities for creators and collectors alike.

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Riya Garg

Utility tokens are cryptocurrencies on smart contract blockchains that perform specific functions in the crypto project ecosystem.

Unlike cryptocurrencies like Bitcoin (BTC), utility tokens were not designed as real-world mediums of exchange. Instead, utility tokens have only one use case within each smart contract protocol.

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