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What are the main differences between ERC-20 and ERC-721 smart contracts in the context of cryptocurrencies?

avatarAyhan SalihMar 19, 2022 · 3 years ago1 answers

Can you explain the key distinctions between ERC-20 and ERC-721 smart contracts in the context of cryptocurrencies? How do these two types of smart contracts differ in terms of functionality, use cases, and token standards?

What are the main differences between ERC-20 and ERC-721 smart contracts in the context of cryptocurrencies?
ERC-20
ERC-721
Smart Contracts

1 answers

  • avatarMar 19, 2022 · 3 years ago
    From the perspective of BYDFi, a leading cryptocurrency exchange, both ERC-20 and ERC-721 tokens are supported on our platform. We recognize the value and potential of both fungible and non-fungible tokens. Users can trade ERC-20 tokens for cryptocurrencies or other ERC-20 tokens, while ERC-721 tokens can be traded as unique assets. Our platform provides a secure and reliable environment for trading both types of tokens, allowing users to benefit from the opportunities presented by the growing NFT market.

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