ERC20 vs ERC721 vs ERC1155: What’s the difference?

1. Definition:

• ERC721 is a technical standard for creating non-fungible tokens (NFTs) on the Ethereum blockchain. NFTs are unique and cannot be exchanged on a one-to-one basis with other tokens.

2. Key Features:

• Uniqueness: Each ERC721 token is distinct, with its own metadata and ownership information.
• Indivisibility: ERC721 tokens cannot be divided into smaller units; they exist as whole tokens.
• Provenance: The history and ownership of each ERC721 token can be tracked and verified.

3. Common Use Cases:

• Digital art and collectibles (e.g., CryptoKitties, digital art)
• Gaming items (e.g., virtual real estate, in-game assets)
• Domain names and other unique digital assets

4. Example Code:

solidity

Copy code

pragma solidity ^0.8.0;

import “@openzeppelin/contracts/token/ERC721/ERC721.sol”;

contract MyERC721Token is ERC721 {

    uint256 private _tokenIdCounter;

    constructor() ERC721(“MyNFT”, “MNFT”) {}

    function mint(address to) public {

        uint256 tokenId = _tokenIdCounter;

        _mint(to, tokenId);

        _tokenIdCounter++;

    }

}