How to create your own ERC 720/721 token?

Having an idea to create your own ERC720/721 token? Don’t worry, you have just vacated the right place to build your own token. Yeah, Coinjoker- Ethereum ERC 720/721 Token Development company offers complete guidance from the scratch to build your own ERC 720/721 token.

 

Let’s see clear explanation about ERC 720/721 token, before you create it own.

 

What does ERC mean?

 

ERC is the abbreviation of Ethereum Request for Comments. An ERC is approved by Ethereum community developers in the form of a memorandum describing methods, behaviors, research, or innovations applicable to the working of the Ethereum ecosystem. It is submitted either for peer review or simply to convey new concepts or information. After core developers and community approval, the ERC proposal becomes a standard.

 

What does ERC-721 token actually mean?

 

The goal of this proposal, ERC-721 is to created for a non-fungible token. But, In ERC-20 and ERC-223 standards we have a supply of tokens, where tokens are fungible. 

 

ERC-721, each token is completely unique and non-interchangeable with other tokens. Best example for ERC 721 token is- Many people have dogs, but THAT dog is theirs and they will not accept some other dog as a substitute. You can use ERC-721 tokens to represent those dogs and dog ownership.

 

ERC-721 standard defines a minimum interface a smart contract must implement to allow unique tokens to be managed, owned, and traded. It does not mandate a standard for token metadata or restrict adding supplemental functions.

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