Crypto Academy Week 12 - Homework Post for @pelon53 - TOKENS, PART 2: ERC-20 and ERC-721

Hello smart minds,

Tokens in blockchain have allowed for more advanced blockchain applications. Thanks to @pelon53 for going into great detail about tokens.

Source;
https://pixabay.com/photos/money-home-coin-investment-2724245/

Explain the ERC-1155 Token in detail.

The ERC-1155 tokens are based on the Ethereum blockchain. Individuals (buyers and sellers) can easily execute smart contracts on the Ethereum network blockchain using these tokens.
ERC-1155 tokens are built on the Ethereum blockchain network's ERC-1155 token standards and can be used in both fungible and non-fungible transactions. The ERC-1155 token standard was created to address the shortcomings of the Ethereum token standards ERC-20 (for fungible Ethereum tokens) and ERC-720 (for non-fungible Ethereum tokens).
The following functions are enabled on the Ethereum network by ERC-1155 tokens based on the ERC-1155 Ethereum network standards:
• Token transfers in bulk/mass, regardless of token type (whether fungible or non-fungible).
• When executing a smart contract, ERC-1155 tokens enables the use of multiple tokens at the same time, i.e. fungible and non-fungible tokens could be used in the same contract.
• Transactions on ERC-1155 tokens are more secure than those on other ERC tokens.
• Smart contracts could be executed more efficiently and in bulk with ERC-1155 tokens, reducing token transfer transaction costs on both ends (buyer and seller).
On Enjin's platform, ERC-1155 tokens are currently the best option for transacting (the creators of the ERC-1155 standard). To use ERC-1155 tokens in smart contracts, developers must follow all ERC-1155 interface requirements as well as the ERC-165 support interface, according to the Ethereum Improvement Proposals (EIPs).

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

To use Etherscan to check the number of ERC-721 tokens in circulation at any given time, go to Etherscan.io first.

Next, go to “Tokens” in the top navigation menu and select “ERC721 Top Tokens”:

On clicking the ERC721 Top Tokens link, find the Non-Fungible Tokens (NFTs) and the total amount of ERC-721 tokens could be verified as shown below:

At the time of this writing, 11,137 ERC-721 tokens were available.

Explain the TRC20 Token and check the amount of TRC20 tokens existing at the time of doing your homework.

TRC-20 is a token based on the TRC-20 token standard for executing smart contracts on the TRON blockchain network with the TRON Virtual Machine (TVM). Self-executing transactions between sellers and buyers in a smart contract can be easily coded and executed using the TRC-20 token, which is based on the TRC-20 standard. Individuals can transact on any TRON app or service by using TRC-20 tokens. TRC-20 tokens are, to put it simply, tokens built on the TRON blockchain network.
To check the amount of TRC-20 tokens, first visit tronscan.org.

Find the tokens tab on the top navigation menu and select “Token tracker”:

On the token’s tracker page, sort tokens according to token type by selecting TRC20 for TRC20 tokens.

On selecting TRC-20, find the amount of TRC-20 tokens existing at each point in time as shown below:

At the point of this writing 16,060 TRC-20 tokens are available.

Conclusion

This class introduced me to cryptocurrency tokens and the possibilities they offer. Thanks again to @pelon53 's efforts.
Special mention:
@imagen