Crypto Academy Week 12 - Homework Post for @pelon53

Hello everybody, Hope you all are fine and in good health!

My this post is a Homework Task assigned by professor @pelon53

Explain the ERC-1155 Token in detail.

ERC-1155

ERC-1155 is a digital token standard made by Enjin that can be used to make both fungible (monetary forms) and non-fungible (computerized cards, pets and in-game skins) resources on the Ethereum Network. By utilizing the Ethereum organization, ERC-1155 tokens are secure, tradable and insusceptible to hacking. To discover more about the determinations of the ERC-1155 norm, look at EIP 1155. 

ERC-1155 another method of making tokens that consider more effective trades and packaging of trades – hence saving expenses. This symbolic standard considers the production of both utility tokens (like $BNB or $BAT) and Non-Fungible Tokens like CryptoKitties. 

ERC-1155 incorporates advancements that consider more productive and more secure trades. Trades could be packaged together – in this way, lessening the expense of moving tokens. ERC-1155 expands on past work, for example, ERC-20 (utility tokens) and ERC-721 (unique one-time collectables).

TYPES OF TOKENS THAT ARE CREATED BY ERC-1155:

Fungible tokens:

ERC-1155 can be utilized to produce fungible tokens-utility coins that go about as money for different stages. The upside of ERC-1155 is that it permits a wide range of tokens under a similar agreement (with ERC-20, another deal should be conveyed for each token). ERC-1155 is more appropriate for multi-token financial matters. For instance, if an undertaking has one token is assigned as a security token (STO) and another Utility token. 

Non-Fungible Tokens (NFTs):

NFTs can appear as computerized collectable felines (for example, crypto kitties) or computer game weapons. What separates NFTs is that every token is exceptional. 

Semi-fungible tokens: 

This another sort of token could "seat a show" or a "50 dollar Walmart coupon". On account of a Walmart coupon, every token is fungible (same as one another) until the token is reclaimed or utilized available. When a coupon is recovered, it no longer holds esteem and shouldn't be traded like an ordinary token. In this model, the coupon is "fungible" until it is reclaimed ("non-fungible"), subsequently the name semi-fungible token.

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

VERIFICATION OF ERC-721 TOKENS

The ERC-721 standard, in particular, doesn't give an interface to question recorded responsibility for a token. Different expansions to the bar may incorporate this extra usefulness, yet this will be executed on an agreement by-contract premise. For instance, CryptoKitties (as deployed) won't ever give an approach to get this data, paying little mind to what different advancements arise.

STEPS TO VERIFY THE AMOUNT OF ERC-721:

1. Search on Google “ETHERSCAN” and open the website

2. Click on the “Tokens” placed on the menu bar

3. You will be directed to another page where you can verify the total amount of tokens.

This below screenshot shows the amount of ERC-20 tokens that exist, which are 11,122 tokens.

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

TRC-20 TOKEN:

TRC‌-20 is a specialized technical standard which is used for smart contracts. TRC- 20 standards are used to implement tokens over TRON Blockchain by using TVM (TRON Virtual Machine). TRC-20 Tokens are fully compatible to ERC‌-20.

TRC20 tokens are overseen in a profoundly secure framework through a distributed organization that is scattered. Since they tap into the all-around fast organization of the blockchain, they exist on. There is almost no dread of safety break or extortion in the framework. 

STEPS TO CHECK THE AMOUNT OF TRC 20 TOKEN:

STEP 1:

Go on Google and search “TRONSCAN” and click on the first website.

STEP 2:

After opening the site, click on “Data” from the top menu bar as mentioned in the below screenshot.

STEP 3:

Then Click on Top Statistics to show the overall statistics. And at Right side we will have TRC 20 Tokens entered on Tronscan.

Note: As mentioned in the above screenshot, I have found 16757 TRC20 tokens existing at the time of doing my homework.