Understanding ERC Standards: The Building Blocks of Ethereum Tokens

📜 What Are ERC Standards?

ERC (Ethereum Request for Comments) standards are technical specifications that define how smart contracts should behave to ensure interoperability across the Ethereum ecosystem. Think of them as blueprints for creating compatible blockchain components.

🔑 Key ERC Standards Every Developer Should Know

1. ERC-20: The Token Standard

interface IERC20 {
    function totalSupply() external view returns (uint256);
    function balanceOf(address account) external view returns (uint256);
    function transfer(address recipient, uint256 amount) external returns (bool);
    function allowance(address owner, address spender) external view returns (uint256);
    function approve(address spender, uint256 amount) external returns (bool);
    function transferFrom(address sender, address recipient, uint256 amount) external returns (bool);
    
    event Transfer(address indexed from, address indexed to, uint256 value);
    event Approval(address indexed owner, address indexed spender, uint256 value);
}

Use Cases: Utility tokens, stablecoins, governance tokens

2. ERC-721: Non-Fungible Token (NFT) Standard

contract MyNFT is ERC721 {
    uint256 private _tokenIdCounter;
    
    constructor() ERC721("MyNFT", "MNFT") {}
    
    function mint(address to) public {
        _safeMint(to, _tokenIdCounter);
        _tokenIdCounter++;
    }
}

Use Cases: Digital art, collectibles, in-game assets

3. ERC-1155: Multi-Token Standard

contract GameItems is ERC1155 {
    uint256 public constant GOLD = 0;
    uint256 public constant SWORD = 1;
    
    constructor() ERC1155("https://game.example/api/item/{id}.json") {
        _mint(msg.sender, GOLD, 10**18, "");
        _mint(msg.sender, SWORD, 1, "");
    }
}

Use Cases: Gaming assets, bundled NFTs, semi-fungible tokens

📊 ERC Standards Comparison

Standard Fungibility Batch Transfers Unique Features
ERC-20 Fungible No Simple token transfers
ERC-721 Non-Fungible No Unique token IDs
ERC-1155 Both Yes Multiple token types

🔧 Implementation Tips

  • Use OpenZeppelin's implementations as base contracts
  • Always implement all required interface methods
  • Test with multiple wallet providers (MetaMask, WalletConnect)
  • Follow security best practices for each standard

🚀 Your ERC Challenge

Create an ERC-1155 contract that:

  1. Mints fungible in-game currency
  2. Mints unique character NFTs
  3. Allows batch transfers of items

Use OpenZeppelin's library and test on Remix IDE!

⚠️ Common Pitfalls

  • Mixing token standards in single contracts
  • Not handling approval workflows properly
  • Ignoring metadata standards (ERC-721 Metadata)
  • Forgetting to implement required events

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