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What is the difference between ERC20 and ERC721 Tokens in simple terms?
Suggested Answer: A
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31 comments · newest first
CA
Carlee
11 months ago
Yup, ERC721 is all about uniqueness!
RA
Raul
11 months ago
Surprised people still mix these up!
FR
Freeman
11 months ago
Wait, isn't it the other way around?
HU
Hubert
12 months ago
Totally agree, fungibility is key for ERC20!
PO
Pok
12 months ago
ERC20 tokens are fungible, while ERC721 tokens are unique!
AN
Anglea
12 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!
MO
Moon
1 year 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.
CO
Cordelia
1 year 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.
EV
Evangelina
1 year ago
I think ERC20 tokens are fungible, meaning they are interchangeable, while ERC721 tokens are unique. I remember practicing a question like this.
FR
France
1 year 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.
TE
Terrilyn
1 year 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.
AD
Adelle
1 year 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.
RA
Rashad
1 year 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.
GE
Geoffrey
1 year 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.
TR
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?
KR
Kristel
2 years 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.
CA
Cassi
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?
ON
Oneida
2 years 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.
LA
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!
BI
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.
LE
Leslee
2 years ago
I agree with Nobuko. The key difference is that ERC20 tokens are interchangeable, while ERC721 tokens are not.
PI
Pilar
2 years ago
I agree with Nobuko. The key difference is that ERC20 tokens are interchangeable, while ERC721 tokens are not.
LA
Latrice
2 years 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.
YA
Yan
2 years 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.
LO
Lorrine
2 years ago
That makes sense. Fungible means each token is the same, while non-fungible means each token is unique.
CA
Casey
2 years ago
I think the difference is that ERC20 tokens are fungible, while ERC721 tokens are non-fungible.
NO
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.
VA
Valentine
2 years ago
Exactly. Each ERC721 token is unique.
CA
Catarina
2 years ago
So, ERC721 tokens are non-fungible then?
JA
Jame
2 years ago
Yes, that's correct. ERC20 tokens are fungible.
RU
Ruthann
2 years ago
I think ERC20 tokens are all the same, right?