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TOKEN STANDARDS
Token interfaces are one of the various Gather development standards. These standards aid in the composability of smart contracts, ensuring that, for example, when a new project releases a token, it is compatible with current decentralized exchanges.
Tokens can symbolize almost anything:
- a player's ability card in-game
- tickets
- financial assets such as a company's stock
- fiat currency such as the US dollar
- an ounce of gold
- and more...
Gather provides a comprehensive standard for these features. That is where the GRC-20 & GRC-721 come into action. Developers can use these standards to create token applications that work with other products and services.
The GRC-20 establishes a standard for Fungible Tokens, which means that they have a feature that ensures that each Token is identical (in type and value) to every other Token. A GRC-20 Token, for example, functions similarly to the GTH, meaning that one Token is and will always be equal to all other Tokens.
A GRC-721 token on Gather Network is similar to an ERC-721 token on Ethereum. The GRC-721 introduces a standard for NFT, in other words, this type of Token is unique and can have a different value than another Token from the same Smart Contract.
All NFTs have a
uint256 variable called tokenId, so for any GRC-721 Contract, the pair contract address, uint256 tokenId must be globally unique.Last modified 1yr ago