What is a token contract?

ERC1155, short for “Ethereum Request for Comments 1155”, is a token standard mainly used for NFTs (non-fungible tokens) . With NFTs increasing in popularity and more artists wanting to create NFTs, it’s beneficial to have a token standard such as the ERC1155 to regulate these tokens.

A Token Contract is a special type of Smart Contract, which maps blockchain addresses to balances of value units – aka tokens. These software programs hold code, which specifies a set of functions and attributes of the value units, created and managed by the contract.

Put simply, ERC20 tokens are contracts that implement the ERC20 standard . Operations handled by these contracts include getting the total supply and balance of tokens, and the methods used to transfer them.

To find out what this address is, we recommend looking at the token’s website for more information or going on https://etherscan.io/tokens and searching directly for the name of your token .

An ERC20 token is a standard used for creating and issuing smart contracts on the Ethereum blockchain . Smart contracts can then be used to create smart property or tokenized assets that people can invest in. ERC stands for “Ethereum request for comment,” and the ERC20 standard was implemented in 2015.