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Learn about ERC1155, a novel type of token standard on the EVM networks, its functions, and how it revolutionizes token interaction on the KodaDot platform.
ERC1155 is a token standard on the Ethereum blockchain that allows for the creation of both fungible and non-fungible tokens within a single contract. It offers an efficient, flexible, and unified approach to token creation and management.
ERC1155 operates by deploying a single smart contract on the Ethereum blockchain for an unlimited variety of digital assets. Each token within the contract is identified by a unique ID, allowing it to function as either a fungible or non-fungible token.
ERC1155 tokens stand out due to their ability to represent multiple token types within a single contract. This enables an unlimited variety of assets to be managed by one contract, increasing efficiency and flexibility in token interaction.
With the ERC1155 standard, take advantage of the flexibility and efficiency it offers in token interaction on the KodaDot platform. Whether fungible or non-fungible, each token holds a unique ID, offering you a broad range of possibilities for digital asset management.