Crypto Academy Week 12 | Homework Post for @pelon53 @Tokens, Part 2.

My submission of homework 📄 for @pelon53.

What is ERC-1155 token?

ERC-1155 is a great innovation in crypto platform,developed in 2017 by enjin.It can be used to creat fungible as well as not fungible tokens.It uses Ethereum Network which makes it safe secure and protected from hackers.

ERC-1155 tokens combines the works of ERC-20 and ERC-721 and produce more useful token which will be utility as well as non fungible.Mostly E1155 is used in gaming platforms. The advantage of ERC-1155 is that it allows the formation of many tokens under the same contract which is not possible in case of ERC-20

Features of ERC-1155 token

• They Serve as both fungible and non fungible tokens.
• Multiple transactions can be made at same time with less transaction cost than other tokens such as ERC-20 and ERC-721.
• The main characteristic of the ERC-1155 Multi Token Standard as multiple tokens are observed in a single smart contract.

Explain how you verify the amount of ERC-721 tokens existing at the time of doing your homework. Provide screenshot (etherscan)

• visit to etherscan.io/ from your phone.

  Opening interface

Opening interface

• At the opening page you will find 3 horizontal lines at the top right corner click on them.

• Various option will be shown click on tokens.

After clicking on tokens select ERC 721 top tokens.

The number of the ERC-721 Tokens available at the moment is 11,083.

Explain the TRC20 Token and check the amount of TRC20 tokens existing at the time of doing your homework.screenshot needed (use tronscan)

What is TRC20 Token?

It is a stable blockchain platform which was firstly introduced by Justin sun in 2017. TRC20-USDT is the stablecoin issued by Tether on the TRON network,actually they are native tokens of tron blockchain. It is fully compatible to ERC‌-20.

TRC 20 are one of the famous tokens in market and are becoming primary focus for crypto lover’s.TRC Tokens are safe for investors as well as traders for making transactions risk free.They have a high energy level and bandwidth capacity then TRC10.

Tron price right now is $0.1232

Features of TRC20 Tokens

• It's compatible with smart contracts.
• Transaction cost is very low.And the speed is very high.while as ERC cost is high and speed is low.
• 2000 transactions per second as ERC can only make 30 transactions per socond.
• They can be accessed by Decentralized applications.
• TRC20 tokens can be transacted through P2P (peer to peer) trading.

How to check the amount of TRC20 tokens available at the moment.

• Visited https://tronscan.org/#/ from mobile.

• Click on the horizontal lines at the top-right corner.
• Select token and and you’ll see various options .

• Click on Token Tracker.

Click on to TRC20 and you can see the tokens available are 15904..

Thanks to professor @pelon53 for this wonderful lecture.