What are the tokens of Ethereum? Introduction to well-known tokens

The Ethereum ecosystem has attracted a large user base. Although its high gas fees and crowded network are often criticized, due to its safe, stable and innovative mechanism, it has always been the preferred public chain for many Dapps deployment. Ethereum Since its operation, it has also experienced large and small upgrades and optimizations. In the Ethereum system, different tokens represent a variety of digital assets. So what types of tokens are currently issued based on Ethereum? Are all the tokens that have been issued based on Ethereum valuable? This is the issue that everyone is most concerned about. There are currently three main types, namely ERC-20, ERC-721, and ERC-1155. Relatively speaking, ERC-20 is more valuable. The editor will explain it in detail below.

What are the types of tokens issued based on Ethereum?

There are three main types of tokens issued based on Ethereum, namely ERC-20, ERC-721, and ERC-1155. The following is a detailed introduction to the tokens:

1, ERC-20

This is the most common Ethereum token standard and is adopted by a large number of project parties. It defines the token transfer function, query function, etc., making the interaction of tokens on Ethereum simple.

First implemented in 2015, ERC20 uses this token standard to allow developers to create fungible/fungible tokens for Ethereum-based applications or protocols.

2. ERC-721

This is a non-fungible token standard, and each token is unique. It is often used to represent unique assets such as crypto art, collectibles, etc.

Utilizing the ERC721 standard, it is possible to create non-fungible/non-fungible tokens, that is, each token has a unique value, represents a verifiable unique digital object, and cannot be exchanged with each other like ERC20 tokens.

3. ERC-1155

This is a multi-token standard that allows multiple tokens to be created and managed simultaneously in one contract. It combines the features of ERC-20 and ERC-721 to provide higher flexibility.

Using ERC1155, one contract can be formulated to support multiple types of individually configurable tokens, thereby reducing the complexity of the token creation process.

Well-known tokens

1. DAI

DAI is a stable currency whose value is pegged to the U.S. dollar. The issuance and management of DAI is automated through smart contracts to maintain its stability.

2. USDT

USDT is a token pegged to the U.S. dollar. It is a stablecoin and is widely used in cryptocurrency transactions.

3. UNI

UNI is the token of the Uniswap protocol, a decentralized trading platform used to exchange tokens on Ethereum.

4. LINK

LINK is the token of the Chainlink network, a blockchain project used to realize connections between smart contracts and external data sources.

5. MANA

MANA is the token of the Decentraland virtual reality platform, which is used to purchase virtual land, props and services.

6. BAT

BAT is the abbreviation of Basic Attention Token. It is a token used for advertising and content rewards, and is used in the advertising system in the Brave browser.

Are all tokens issued based on Ethereum valuable?

Relatively speaking, ERC-20 is more valuable. The prices of many ERC20 tokens have increased since the coin was first launched, especially with the popularity of the Ethereum blockchain.

Since ERC20 is part of Ethereum, all ERC20 tokens can use tools within the Ethereum ecosystem to trade, track or monitor transactions

The ERC20 standard allows the use of the Ethereum blockchain to exchange different of tokens. Investors can trade Uniswap for Tamadoge or ApeCoin for LuckyBlock because they both use the ERC20 standard.

The ERC20 standard enables creators to agree on a basic set of technical specifications. All new coins created using this standard will be interchangeable while still retaining their specific and independent purpose.

Most stablecoins are ERC20, which means investors can use cryptocurrencies denominated in their local currency to go to any exchange and start from a familiar starting point for different transactions. This is why ERC20 dominates the crypto world. .

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