Token Standards

Different blockchains have a different set of rules for developers willing to develop tokens or projects on their blockchain. If you want to make a token on a popular blockchain, you need to follow their standards. These standards are a set of rules. Below are some popular token standards.

• ERC-20 (Standard Ethereum token, it is transferable and fungible).
• ERC-721 (Popular standard these days, Non fungible token used in NFT trading)
• BEP-2 (Binance chain token. pegged tokens of multiple chains even bitcoin)
• BEP-20 (Binance Smart chain, runs parallel to Binance chain and uses EVM (Ethereum Virtual Machine), pegged tokens)
• QRC-20 (Same as ERC-20 for QTUM chain)
• TRC‌-20 (A technical standard used for smart contracts on the TRON blockchain)
• Goguen (Upcoming Protocol to build cardano smart contracts on distributed ledger)

These are some of the most popular standards for tokens. These standards are API callbacks and predefine functions to follow when creating a token. If you comply with these standards your token or coin will be identified from that standard.

There are a lot of token standards in Ethereum alone, but above are some of the most popular and widely adopted standards.