Crypto Academy ||Season-2 ||Week-4|| Homework Post for @pelon53|| Tokens Part-2

Once again, we will learn about Token and few types of tokens that are used in the crypto trading. In previous lecture learned about the Token not the types of token that are mentioned in the lecture. But in this lecture, we will learn more about Token. We learn what are the ERC token and TRC Token in details, and this is task that is giving the lecture by professor #pelon53. I will try to give answer to all the question in well manner. Let’s start the Homework.

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What is ERC-1155 token Explain this Token?

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It is digital token that is created by Enjin. Fungible and also Non-fungible asset on Ethereum Blockchain is created by ERC-1155 token. ERC Token are more secure using Ethereum network. No one can easily hack this token. This Token enhance the process of creation of asset. It make the transaction more easy. We can save cost by using this token. We can produce and create Utility token like BNB and BAT by using this token. We can also create Non-fungible tokens like cyptokitties by using this ERC 1155 token.
ERC-1155 allow to make safe and secure transactions. In this token the transactions are bundled with each other. Cost of this token is less then other tokens. This token is builds on by the previous work of ERC_20 and ERC_721. ERC20 and ECR721 are token that are used separately because both these are belong to different categories of fungible and non-fungible tokens. Use these tokens separately, this way they charge more cost. To Solve this problem ECR1155 Token is created. This token is handled fungible, non-fungible and semi fungible tokens. This why it saves resources, time and as well as cost when we interact with a specific contract.

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Difference between ERC-1155 and ERC-721

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ERC-1155	ERC-721
It support Both Fungible and Non-fungible Token	It only support Non-fungible
It transfer the bundle of Token IDs in single transaction.	It transfer only single ID of token in one transaction.
It is deployed one time for single smart contract for unlimited types of tokens.	It is deployed every time for single smart contract.
It support many languages.	It support only one language.
It can store data on chain without storing any additional data.	This token only supports the Static metadata. Smart contract managed the storage of URI.
It terminates all the Metadata to URI Which can on web or IPF	It contain metadata legacy like name and symbols, which are not supported by some advance token

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Characteristics of ERC-1155 Token

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There are many feature and characteristics of this token, but we will explain few of them.

• ERC-1155 Token is support Fungible, Non-fungible and Semi fungible token as well.
• Due to its support to Fungible, Non-fungible and Semi fungible token It saves cost.
• It can run and execute multiple transaction at single time.
• In this token there are many options that permits users to trade and upgrade the asset without any hurdle.

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Verify the amount of ERC-721 tokens that are existing at the time of doing your homework. Screenshot of my work are here.

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For Verifying the amount of token I will use Etherscan as requirement. For verifying the amount of token ERC-721 you will follow the following steps. I will explain in easy way.

• First we open the Link as www.etherscan.io site.

• Next we find the tab of token that is marked in the screen
• Click on the Token tab and then dropdown appear.
• Then Click on the ERC721 Top Token in dropdown.

• After Clicking on the this we see that the amount of token that available at doing my homeowork.

11,083 ERC-721

Token available while I doing this home work.

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What is TRC-20 Token and how to check the amount of TRC20 tokens existing at the time.

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What is TRC20 Token?

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It is a token that is created by the Tron Blockchain. It is one of the famous and well-known token in market. It is technical Standard that is basically based on the Smart Contract implementation. TRC20 token allows trader to make safe and secure transaction without any fear. No one can easily hack. TRC-20 Token is one the most demanded token in the market.
TRC20 is similar to ERC20 in any sense. Tron Virtual Machin helps to TRC standard to produce the TRC-20 Tokens. They add more logic in TRC20 then TRC10. TRC20 token have high level of bandwidth and capacity then TRC10 token.

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Characteristics of TRC-20 Token

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• It supports the Smart Contract.
• Cost of Transaction is less.
• It can transaction up to 2000 transaction in a second.
• Transactions are done in TRC20 through Peer-to-peer trading.
• It can be approaches by Applications that are decentralized.

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How to find amount of TRC-20 token available at doing homework

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For Verifying the amount of TRC-20 token, I will use Tronscan as requirement. For verifying the amount of token ERC-20 you will follow the following steps. I will explain in easy way.

• First we open the Link as www.Tronscan.io site. As we can see in figure that is marked

• Next we find the tab of token that is marked in the screen.
• And Then Click on the Token tab and then dropdown appear.
• Then Click on the TOKEN TRACKER in dropdown.

• After Clicking on Token Tracker next screen we navigate the marked space at middle right of screen that is TRC-20.

Now w see that the amount of TRC-20 token that available at doing my homework.

15,906 TRC-20

Token available while I doing this home work.

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Conclusion

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In this post we learn about the Tokens. A man that involved in crypto trading should aware of Tokens. This why we learn about Token and types of tokens that are used in crypto trading. We learn about ERC Token and also learn about the nature of token. We also learn about how to verify the amount of ERC-721 token that are existing at doing home. We learn about TRC 20 Token and find amount this token available at doing the home work.
THANK YOU

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Thank to Professor:

@pelon53

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Written By:

@abdulsabor

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