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What is an ERC-1155 token and what is its future?

The ERC-1155 token is a standard that describes an intelligent contract interface that can represent any number of fungible and non-fungible token types. nbsp; On the other hand, existing standards like ERC-20 require the implementation of separate token-type contracts. The ERC-721 Standard Token ID is a unique non-fungible index. And the pool of these non-fungibles is implemented as a single contract with configurations for the entire collection. In contrast, the ERC-1155 standard allows each token ID to represent a new configurable token type. That is, it can have its own metadata, deployments, and other attributes.

On the other hand, you can have a record that indicates the type of token (or tokens) in a transaction. In this way, A single provisioned contract can include any combination of fungible tokens, non-fungible tokens, or other configurations (e.g., semi-fungible tokens).

Additionally, the standard ensures that the event logs issued by the smart contract contain enough data to keep an accurate record of all current token balances. A database or browser can wait for events and provide categorized and indexed searches for each ERC-1155 token in the contract. In addition, smart contracts no longer need to manage the indexes of each token ID. In fact, the IDs don’t have to be sequential in any way.

What is an ERC-1155 token and what is its future?
What is an ERC-1155 token and what is its future?

This is a radical departure from Enum (the ability to navigate through all of the tokens in the chain), but it offers a significant efficiency benefit and even allows for a fully standardized record of every token minted. revered, burned and transferred.

This was not possible in a standardized way until today and will enable cool ecosystem advantages such as deep data analytics for tokens and extensive token explorers. Imagine being able to rewind and fast forward over time and analyze completely different usage patterns and ERC-1155 token lifecycles, regardless of the smart contract used. Analyze.

Token holders can get more information about their assets, e.g. B. Exactly when it was minted. Your particular token, and in the future, tools may be developed that provide useful information for businesses that rely on this technology

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