ERC-1155

What is ERC-1155?

ERC-1155 is a token standard on the Ethereum blockchain that allows for the creation of both fungible and non-fungible tokens (NFTs) within a single smart contract. It was proposed by Enjin and is designed to combine the functionalities of ERC-20 and ERC-721 standards, offering improved efficiency and flexibility.

Key Features

1. Multi-Token Standard: Can represent both fungible and non-fungible tokens.

2. Batch Transfers: Allows multiple token types to be transferred in a single transaction.

3. Gas Efficiency: Reduces gas costs for token transfers and approvals.

4. Semi-Fungible Tokens: Supports tokens that are fungible within a specific subset.

5. Metadata Handling: Provides a standardized way to include metadata for tokens.

Advantages

1. Reduced Contract Deployment: One contract can manage multiple token types.

2. Lower Transaction Costs: Batch operations reduce overall gas fees.

3. Improved Scalability: More efficient use of blockchain resources.

4. Versatility: Suitable for various use cases, including gaming and collectibles.

5. Enhanced Interoperability: Easier integration with wallets and exchanges.

Use Cases

1. Gaming: Managing in-game items and currencies.

2. Digital Art: Creating collections with both unique and edition-based pieces.

3. Event Tickets: Issuing both fungible (general admission) and non-fungible (VIP) tickets.

4. Supply Chain: Tracking both fungible (bulk goods) and non-fungible (unique items) assets.

Comparison with Other Standards

1. ERC-20: ERC-1155 can replicate ERC-20 functionality with added benefits.

2. ERC-721: Offers similar NFT capabilities but with improved efficiency.

3. ERC-777: Provides some advanced features but focuses only on fungible tokens.

Implementation Considerations

1. Smart Contract Complexity: More complex to implement than simpler standards.

2. Wallet Support: Not all wallets fully support ERC-1155 tokens.

3. Security: Requires careful implementation to prevent vulnerabilities.

4. Metadata Management: Proper handling of metadata is crucial for NFT aspects.

Similar Terms

• ERC-20: The standard for fungible tokens on Ethereum.

• ERC-721: The standard for non-fungible tokens on Ethereum.

• NFT (Non-Fungible Token): Unique digital assets, often following ERC-721 or ERC-1155 standards.

• Smart Contract: Self-executing contracts with the terms directly written into code.

• Ethereum: The blockchain platform that EIPs are designed for.