In this article we are going to talk about Non-Fungible Tokens (NFTs) and one of the most usable Ethereum Request for Comments (ERCs), the ERC 998.
This standard is proposed by Fabian Vogelsteller and Vitalik Buterin in 2015. Tokens in this standard are all fungible. Meaning that value of every token created in this standard is similar to other tokens. For example, all of the $LINK tokens’ value and price are the same, and all of the $UNI tokens’ value and price are the same.
So, in this standard, tokens created by the same contract will always value the same and buying an ERC 20 token is the same as buying another ERC 20 token of the same.
This standard is proposed by William Entriken, Dieter Shirley, Jacob Evans, and Natasha Sachs. Tokens in this standard are all non-fungible. This means that value of tokens created in this standard are not the same. As an example, buying a Bored Ape Yacht Club NFT will not cost you as the same as buying another Bored Ape Yacht Club NFT. So buying different NFTs of the same collection will cost you differently and by rarity and other features of the NFT.
It is proposed by Witek Radomski, Andrew Cooke, Philippe Catstonguay, James Therien, Eric Binet, and Ronan Stanford. This standard gave another ability to NFTs. In this standard you can make copies of one NFT. For example, you can make 10 copies of an NFT and all of those NFTs will value the same, but will value differently compared to other NFTs.
If you are making a card game and you want to sort the cards by rarity, you can use this standard. For example you make a super rare NFT card with only 10 of them and a rare NFT card with 100 of them. All of the super rare cards will value the same but they will differ from the rare cards and the rare cards will value the same.
Lastly we are here to determine what composable NFTs are. This standard was proposed by Matt Lockyer, Nick Mudge, and Jordan Schalm in 2018. ERC 998 is an extension to the ERC 721 standard that adds the ability for non-fungible tokens to own other non-fungible tokens and ERC 20 tokens. This standard acts as an extension of ERC-721, allowing you to “compose” a new token from a group of ERC-721 assets.
For example, your in-game character can now be composed of all of its underlying NFTs: shield, sword, boots, special items, and even other ERC-20 tokens. When you are ready to sell or trade the character, it takes just one blockchain transaction, after which all underlying assets belong to the new owner.
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Researcher, Enthusiast, Blockchain and Crypto Lover, Cryptography Lover, Ethereum is the King.
In this article we are going to talk about Non-Fungible Tokens (NFTs) and one of the most usable Ethereum Request for Comments (ERCs), the ERC 998.
This standard is proposed by Fabian Vogelsteller and Vitalik Buterin in 2015. Tokens in this standard are all fungible. Meaning that value of every token created in this standard is similar to other tokens. For example, all of the $LINK tokens’ value and price are the same, and all of the $UNI tokens’ value and price are the same.
So, in this standard, tokens created by the same contract will always value the same and buying an ERC 20 token is the same as buying another ERC 20 token of the same.
This standard is proposed by William Entriken, Dieter Shirley, Jacob Evans, and Natasha Sachs. Tokens in this standard are all non-fungible. This means that value of tokens created in this standard are not the same. As an example, buying a Bored Ape Yacht Club NFT will not cost you as the same as buying another Bored Ape Yacht Club NFT. So buying different NFTs of the same collection will cost you differently and by rarity and other features of the NFT.
It is proposed by Witek Radomski, Andrew Cooke, Philippe Catstonguay, James Therien, Eric Binet, and Ronan Stanford. This standard gave another ability to NFTs. In this standard you can make copies of one NFT. For example, you can make 10 copies of an NFT and all of those NFTs will value the same, but will value differently compared to other NFTs.
If you are making a card game and you want to sort the cards by rarity, you can use this standard. For example you make a super rare NFT card with only 10 of them and a rare NFT card with 100 of them. All of the super rare cards will value the same but they will differ from the rare cards and the rare cards will value the same.
Lastly we are here to determine what composable NFTs are. This standard was proposed by Matt Lockyer, Nick Mudge, and Jordan Schalm in 2018. ERC 998 is an extension to the ERC 721 standard that adds the ability for non-fungible tokens to own other non-fungible tokens and ERC 20 tokens. This standard acts as an extension of ERC-721, allowing you to “compose” a new token from a group of ERC-721 assets.
For example, your in-game character can now be composed of all of its underlying NFTs: shield, sword, boots, special items, and even other ERC-20 tokens. When you are ready to sell or trade the character, it takes just one blockchain transaction, after which all underlying assets belong to the new owner.
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Discrete logarithm is one of the most important parts of cryptography. This mathematical concept is one of the most important concepts one can find in public key cryptography. Let’s first determine a very basic algorithm to make public keys in cryptography and then describe how discrete logarithm can help us in this algorithm.Diffie-Hellman Key ExchangeIn this method, there are two people, Alice and Bob, who want to make a safe channel to exchange messages, which Eve is an untrusted person wh...
Researcher, Enthusiast, Blockchain and Crypto Lover, Cryptography Lover, Ethereum is the King.
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