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Published on Mar 1, 2022

ERC-1155

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#Glossary
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The ERC-1155 tokens are based on the Ethereum network, making them secure, tradable, and resistant to any cyberattacks whatsoever. The ERC-1155 digital token standard is used to create fungible tokens, often in the form of currencies for various platforms.

The ERC-1155 is specifically optimized to make transactions more secure and efficient. It can also be bundled, lowering the overall cost of the transaction while transferring tokens. The ERC-1155 is an upgrade over its older counterparts including the ERC-20 and ERC-712 token standards.

Another great advantage of using ERC-1155 tokens is that it actually verifies whether a transaction was successfully completed. In case the transaction went void, the tokens are reverted back to the sender.


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