Know your ERC20's from your NFTs
What is a token, anyway?
The world's biggest blockchain is Bitcoin (you might have heard of it). The second largest is Ethereum, which uses a cryptocurrency called Ether (sometimes called ETH).
The Ethereum chain has a really powerful feature: it's possible to write computer programs called smart contracts
and save them on the chain, and execute them later.
There's a special kind of smart contract called a token contract
that allows anyone to create their own token on the Ethereum network.
is a kind of digital asset that can be used as a medium of exchange.
ERC20 - the fungible standard
TokenMaker fungible tokens conform to the ERC20 standard, which means they exhibit properties that are known and expected by popular exchanges and wallets.
By adhering to this standard, our tokens remain compatible with the widest range of applications and offer the highest level of interoperability.
Fungible tokens of the same type (that is, controlled by the same contract) are replaceable with one another - they are functionally identical, in the same way regular banknotes are.
ERC721 - non-fungible tokens (NFT)
TokenMaker allows anyone to mint their own NFT's. A non-fungible token is unique: it contains information that is embedded at the time of minting.
Typically, this information is a web address to some metadata that describes a digital asset: a picture, a photograph, a movie or sound clip, a document, or any other media that can be stored digitally.
The best way to explore to tokens is to create some for yourself (for free!) and experiment for yourself.
Next, we'll explore how to create tokens with TokenMaker