What is a token standard, in plain terms?
A token standard is an agreed list of functions and events a contract must provide, so wallets and marketplaces can work with it.
A token standard is an agreed list of functions and events that a contract promises to provide. Because every compatible contract answers the same questions in the same way, wallets and marketplaces can display and move tokens without custom code for each project.
The common questions a standard answers
- Who holds this token?
- How many tokens does this address hold?
- Move this token from one address to another
- Who is allowed to move tokens on my behalf?
One-of-a-kind and multi-copy
On Ethereum and similar chains, ERC-721 describes tokens where each ID is unique. ERC-1155 allows one contract to manage many token types, some unique and some in editions. Other chains use their own standards that follow similar ideas.
What a standard doesn’t promise
A standard sets the minimum. A contract can add extra functions on top, including ones that let the owner pause transfers or change metadata. Following a standard does not mean a contract is safe or fair.
Next: can the contract be changed after I buy? General information only. Nothing here is financial, legal or investment advice.
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