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Blockchain CBDE Exam - Topic 1 Question 104 Discussion

What is the difference between ERC20 and ERC721 Tokens in simple terms?
A) The tokens of a certain ERC20 symbol are all the same, the tokens of an ERC721 symbol are all different. So, ERC20 tokens are fungible, while ERC721 tokens are non-fungible.
B) The tokens of a certain ERC20 symbol are all different, the tokens of an ERC721 symbol are all the same. So, ERC20 tokens are non-fungible while ERC721 tokens are fungible.

Blockchain CBDE Exam - Topic 1 Question 104 Discussion

Actual exam question for Blockchain's CBDE exam
Question #: 104
Topic #: 1
[All CBDE Questions]

What is the difference between ERC20 and ERC721 Tokens in simple terms?

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Suggested Answer: A

by Dianne at Nov 15, 2024, 08:02 AM

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Carlee
6 months ago
Yup, ERC721 is all about uniqueness!
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Raul
7 months ago
Surprised people still mix these up!
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Freeman
7 months ago
Wait, isn't it the other way around?
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Hubert
7 months ago
Totally agree, fungibility is key for ERC20!
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Pok
7 months ago
ERC20 tokens are fungible, while ERC721 tokens are unique!
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Anglea
7 months ago
I remember studying this, and I think ERC20 is for currencies and ERC721 for collectibles. So, A seems right, but I hope I’m not mixing them up!
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Moon
8 months ago
I recall that ERC20 tokens are all the same, but I’m not entirely sure about the specifics of ERC721. I think they represent unique items, like collectibles.
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Cordelia
8 months ago
I'm a bit confused about the definitions. I thought both types of tokens could be unique in some way, but I guess ERC721 is definitely the one that's non-fungible.
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Evangelina
8 months ago
I think ERC20 tokens are fungible, meaning they are interchangeable, while ERC721 tokens are unique. I remember practicing a question like this.
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France
8 months ago
The key distinction is that ERC20 tokens are interchangeable, like regular currency, while ERC721 tokens are unique and non-fungible, like digital collectibles. This is an important concept to grasp for working with blockchain-based assets.
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Terrilyn
8 months ago
Wait, I'm still not sure I understand the difference. Are you saying ERC20 tokens are different, and ERC721 tokens are the same? I'm a bit confused by the wording here.
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Adelle
8 months ago
Okay, I think I got it. ERC20 tokens are fungible, so they're all the same, while ERC721 tokens are non-fungible, meaning each one is unique. That makes sense.
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Rashad
8 months ago
Hmm, I'm a bit confused. Are you saying ERC20 tokens are all the same, and ERC721 tokens are all different? I need to re-read the question carefully.
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Geoffrey
8 months ago
This is a straightforward question. ERC20 tokens are fungible, meaning each token is interchangeable, while ERC721 tokens are non-fungible, meaning each token is unique.
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Trinidad
2 years ago
Ha! I bet the person who wrote this question owns a bunch of NFTs. Gotta keep up with the crypto trends, you know?
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Kristel
1 year ago
A) The tokens of a certain ERC20 symbol are all the same, the tokens of an ERC721 symbol are all different. So, ERC20 tokens are fungible, while ERC721 tokens are non-fungible.
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Cassi
1 year ago
Ha! I bet the person who wrote this question owns a bunch of NFTs. Gotta keep up with the crypto trends, you know?
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Oneida
1 year ago
A) The tokens of a certain ERC20 symbol are all the same, the tokens of an ERC721 symbol are all different. So, ERC20 tokens are fungible, while ERC721 tokens are non-fungible.
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Lashawn
2 years ago
So, ERC20 tokens are like dollar bills, all the same, while ERC721 tokens are like unique pieces of art. Got it!
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Billye
2 years ago
Option A makes the most sense to me. The non-fungibility of ERC721 tokens is what sets them apart from the fungibility of ERC20 tokens.
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Leslee
2 years ago
I agree with Nobuko. The key difference is that ERC20 tokens are interchangeable, while ERC721 tokens are not.
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Pilar
1 year ago
I agree with Nobuko. The key difference is that ERC20 tokens are interchangeable, while ERC721 tokens are not.
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Latrice
1 year ago
B) The tokens of a certain ERC20 symbol are all different, the tokens of an ERC721 symbol are all the same. So, ERC20 tokens are non-fungible while ERC721 tokens are fungible.
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Yan
1 year ago
A) The tokens of a certain ERC20 symbol are all the same, the tokens of an ERC721 symbol are all different. So, ERC20 tokens are fungible, while ERC721 tokens are non-fungible.
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Lorrine
2 years ago
That makes sense. Fungible means each token is the same, while non-fungible means each token is unique.
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Casey
2 years ago
I think the difference is that ERC20 tokens are fungible, while ERC721 tokens are non-fungible.
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Nobuko
2 years ago
Option A is the correct answer. ERC20 tokens are fungible, meaning they are all the same, while ERC721 tokens are non-fungible, meaning each token is unique.
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Valentine
1 year ago
Exactly. Each ERC721 token is unique.
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Catarina
1 year ago
So, ERC721 tokens are non-fungible then?
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Jame
1 year ago
Yes, that's correct. ERC20 tokens are fungible.
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Ruthann
2 years ago
I think ERC20 tokens are all the same, right?
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