Ethereum Token Standards Brief Intro

Each of the token standards starts with “ERC”.
ERC is an acronym for “Ethereum Request for Comments”.
ERCs are standards at the application level. They can include more than just token standards. Other examples are name registries, “library/package formats”.
The ERC token standards allow applications and smart contracts to interact with them in a predictable way by requiring a set of functions for a specific token type.
The most popular token standards (per ethereum.org):
- ERC-20 – standard interface for fungible tokens
- ERC-721- standard interface for non-fungible tokens (NFTs)
- ERC-777 – allows the building of extra functionality on top of tokens
- ERC-1155 – used for utility tokens and NFTs; allows for bundling of transactions, lower costs