Token standards are a set of rules and protocols that define how digital tokens function and interact on a particular blockchain network. These standards specify properties such as token issuance, transfer mechanisms, and supply management. Adherence to a common standard ensures interoperability among different applications and wallets within an ecosystem. Examples include ERC-20 for fungible tokens and ERC-721 for non-fungible tokens on Ethereum.
Context
News in the digital asset space frequently references new token standards or updates to existing ones, which can enable novel functionalities or improve efficiency. The creation of new standards often reflects the evolving needs of decentralized applications and the broader Web3 economy. These standards are crucial for fostering innovation and maintaining compatibility across diverse blockchain projects.
The firm tokenized a $500M private equity fund on a permissioned subnet, optimizing capital efficiency and democratizing institutional access via fractionalization.
The seamless integration of upgradable, tradable collectibles into a messaging application abstracts blockchain complexity, defining a new high-volume SocialFi onboarding funnel.
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