Saturday, February 4

Tag: ERC-721

ERC-721 Transfers Surpassed ERC-20 First Time Since 2019: Here’s What It Is
Blockchain

ERC-721 Transfers Surpassed ERC-20 First Time Since 2019: Here’s What It Is

The number of ERC-721 transfers on the Ethereum network has beaten the same metric for another standard, ERC-20. While some users may think ERC-721 is a unique type of token, it is simply the NFT token standard used in every collection out there. Read Also: Terra 2 Testnet Goes Live, Mainnet Launch With Airdrop To Follow The ERC-721 is a standard for non-fungible tokens, which are unique assets with different values than other tokens issued from one smart contract because of their rarity or visuals. Each token brought out with the  ERC-721 standard has a unique variable, called a token, which would be globally unique. The tokenId is then used by decentralized apps for giving an output of an image of a certain item. Despite the huge drop in the fame of NFT...