stylusguide
  • 1. Welcome to Arbitrum Stylus and Rust
    • Brief Introduction to Arbitrum Stylus
    • Importance of Rust in Blockchain Development
    • What You'll Learn in This Tutorial Series
  • 2. Setting Up Your Development Environment
    • Installing Rust
    • Setting Up Arbitrum Stylus
    • Basic Commands
  • 3. Your First Smart Contract: Hello World
    • Introduction to Smart Contracts
    • Writing the Hello World Contract
    • Deploying and Testing Your Contract
  • 4. Understanding Smart Contract Storage: Simple Storage
    • Basics of Contract Storage
    • Writing the Simple Storage Contract
    • Interacting with Storage Variables
  • 5. Creating Your Own Token: Token Contract
    • Introduction to Tokens and Standards
    • Writing the Token Contract
    • Deploying and Testing Your Token
  • 6. Additional Resources and Next Steps
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  • Understanding Tokens and ERC Standards
  • What are Tokens?
  • Overview of ERC Standards
  1. 5. Creating Your Own Token: Token Contract

Introduction to Tokens and Standards

Understanding Tokens and ERC Standards

What are Tokens?

Tokens are digital assets created and managed on a blockchain. They can represent various assets or utilities, such as currency, property, or even access rights. Tokens can be fungible or non-fungible:

Fungible Tokens

These are interchangeable and identical to each other. The most common standard for fungible tokens on Ethereum is the ERC-20 standard. Examples include cryptocurrencies like DAI or USDC.

Non-Fungible Tokens (NFTs)

These are unique and cannot be exchanged on a one-to-one basis. Each token has distinct properties and metadata. The ERC-721 and ERC-1155 standards are used for NFTs. Examples include digital art and collectibles.

Overview of ERC Standards

ERC-20 Standard

ERC-20 is a technical standard used for fungible tokens on the Ethereum blockchain. It defines a common list of rules that all Ethereum tokens must follow, allowing developers to create interoperable tokens.

Key Functions of ERC-20:

  • totalSupply: Returns the total supply of the token.

  • balanceOf: Returns the account balance of another account with address owner.

  • transfer: Transfers a number of tokens to another address.

  • approve: Allows another account to withdraw a certain number of tokens, often for spending by smart contracts.

  • transferFrom: Transfers tokens from one address to another using an allowance.

  • allowance: Returns the number of tokens allowed to be spent by another account.

ERC-721 Standard

ERC-721 is a standard for creating non-fungible tokens (NFTs). Each token has unique characteristics and is represented by a unique ID.

ERC-1155 Standard

ERC-1155 is a multi-token standard that allows for the creation of both fungible and non-fungible tokens within the same smart contract.

These standards ensure that tokens created on the Ethereum blockchain can be used across various dApps and platforms without compatibility issues.

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Last updated 7 months ago