ERC-20 in the sense that <strong>ERC-721 tokens are</strong> <strong>non-fungible</strong>. <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-non-fungible-token-nft/">
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Investing","slug":"trading-and-investing","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-trading.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-trading-101.jpg","rating":80,"sections":[{"slug":"where-to-trade-crypto","title":"Where Can You Trade Cryptocurrencies?","featured_image_id":10342,"status":"published","chapter_id":7,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/where-to-trade-crypto","featured_image":{"id":10342,"uuid":"0bd8d78a-9423-48ee-9161-34dc1872b97c","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/where-to-trade-crypto-featured-image.jpg","path":"crypto/storage/optimized/where-to-trade-crypto-featured-image.jpg","original_path":"crypto/storage/original/where-to-trade-crypto-featured-image.jpg","name":"where-to-trade-crypto-featured-image.jpg","original_name":"where-to-trade-crypto-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"85.96KB"},"youtube_video":null},{"slug":"how-to-invest-in-crypto","title":"Investing in Crypto: What Investing Options Do You Have?","featured_image_id":10729,"status":"published","chapter_id":7,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-invest-in-crypto","featured_image":{"id":10729,"uuid":"3439a1db-9892-404a-b4b6-a1db5a34bca4","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/how-to-invest-in-crypto-featured-image.jpg","path":"crypto/storage/optimized/how-to-invest-in-crypto-featured-image.jpg","original_path":"crypto/storage/original/how-to-invest-in-crypto-featured-image.jpg","name":"how-to-invest-in-crypto-featured-image.jpg","original_name":"how-to-invest-in-crypto-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"75.22KB"},"youtube_video":null},{"slug":"ico-vs-ido","title":"ICO vs IDO vs IEO: Which One is the 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Them?","featured_image_id":11359,"status":"published","chapter_id":7,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-an-airdrop","featured_image":{"id":11359,"uuid":"7b43c968-1275-4d3e-acb1-1707a43a4014","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","path":"crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","original_path":"crypto/storage/original/what-is-an-airdrop-featured-image.jpg","name":"what-is-an-airdrop-featured-image.jpg","original_name":"what-is-an-airdrop-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"66.05KB"},"youtube_video":null},{"slug":"how-to-get-free-crypto","title":"How to Get Free Crypto Assets?","featured_image_id":6542,"status":"published","chapter_id":7,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-get-free-crypto","featured_image":{"id":6542,"uuid":"4fceb9ab-391e-4ef9-b00d-c871a49878a3","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-get-free-crypto.o.jpg","path":"crypto/storage/media/how-to-get-free-crypto.o.jpg","original_path":"crypto/storage/media/how-to-get-free-crypto.jpg","name":"how-to-get-free-crypto.o.jpg","original_name":"how-to-get-free-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"93.93KB"},"youtube_video":null},{"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main Principles","featured_image_id":null,"status":"published","chapter_id":7,"language":"en","order":6,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-arbitrage-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-fud","title":"What is FUD: How to Use It to Your Advantage While Investing in Crypto?","featured_image_id":11394,"status":"published","chapter_id":7,"language":"en","order":7,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-fud","featured_image":{"id":11394,"uuid":"defd32c5-d3e1-4e66-9f58-e2ee316bad3a","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-fud-featured-image.jpg","path":"crypto/storage/optimized/what-is-fud-featured-image.jpg","original_path":"crypto/storage/original/what-is-fud-featured-image.jpg","name":"what-is-fud-featured-image.jpg","original_name":"what-is-fud-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"65.30KB"},"youtube_video":null},{"slug":"investing-in-cryptocurrency","title":"Investing in Cryptocurrency: How to Manage Your Risks?","featured_image_id":null,"status":"published","chapter_id":7,"language":"en","order":8,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/investing-in-cryptocurrency","featured_image":null,"youtube_video":null},{"slug":"what-is-a-rug-pull-in-crypto","title":"What is a Rug Pull in Crypto?","featured_image_id":6532,"status":"published","chapter_id":7,"language":"en","order":9,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-a-rug-pull-in-crypto","featured_image":{"id":6532,"uuid":"be8043fb-078c-4487-9af9-d2d9c2b574ea","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","original_path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.jpg","name":"what-is-a-rug-pull-in-crypto.o.jpg","original_name":"what-is-a-rug-pull-in-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"92.28KB"},"youtube_video":null},{"slug":"how-to-avoid-rug-pulls-in-crypto","title":"How to Spot and Avoid Rug Pulls?","featured_image_id":6555,"status":"published","chapter_id":7,"language":"en","order":10,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-rug-pulls-in-crypto","featured_image":{"id":6555,"uuid":"80cbed9d-3b4b-45d9-9a85-d2d8108c0f32","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","path":"crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","original_path":"crypto/storage/media/how-to-avoid-rug-pulls.jpg","name":"how-to-avoid-rug-pulls.o.jpg","original_name":"how-to-avoid-rug-pulls.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"111.99KB"},"youtube_video":null},{"slug":"how-to-avoid-crypto-taxes","title":"The Key Legal Techniques of Avoiding Crypto Taxes","featured_image_id":6526,"status":"published","chapter_id":7,"language":"en","order":11,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-crypto-taxes","featured_image":{"id":6526,"uuid":"1e44162c-ef1d-4010-81b4-9e8d1809aedf","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","path":"crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","original_path":"crypto/storage/media/how-to-avoid-crypto-taxes.jpg","name":"how-to-avoid-crypto-taxes.o.jpg","original_name":"how-to-avoid-crypto-taxes.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"99.10KB"},"youtube_video":null}]},{"id":8,"title":"Crypto Analysis","slug":"crypto-analysis","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-analysis.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-analysis-101.jpg","rating":100,"sections":[{"slug":"what-is-bullish-and-bearish","title":"Bearish and Bullish Markets: Do They Matter?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-bullish-and-bearish","featured_image":null,"youtube_video":null},{"slug":"best-technical-analysis-indicators-for-crypto","title":"5 Best Crypto Technical Analysis Indicators You Must Know About","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/best-technical-analysis-indicators-for-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-candlesticks","title":"Technical Analysis: What are Candlesticks, Trendlines, and Patterns?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-candlesticks","featured_image":null,"youtube_video":null},{"slug":"how-to-track-new-crypto-coins","title":"Crypto Tracking: How to Track Your Favorite Coins & Tokens?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-track-new-crypto-coins","featured_image":null,"youtube_video":null},{"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-research-crypto","featured_image":null,"youtube_video":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-mining.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-mining-101.jpg","rating":80,"sections":[]},{"id":10,"title":"Crypto Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":318,"original_id":null,"author_id":40,"translator_id":null,"title":"What is ERC-777?","slug":"what-is-erc-777","section":"E","keyword":"ERC-777","status":"published","definition":"a token standard for producing fungible tokens on the Ethereum network, which allows a novel token contract interaction method that is backward compatible.","content":"<p>ERC-777 is a token standard that allows producing tokens on the Ethereum blockchain, similar to the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-erc-20/">
ERC-20 token standard. However, it <strong>makes complex token trading possible</strong> and helps clear up any confusion over various processes like <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-minting/">
minting and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-burning/">
burning. This standard transforms current fungible token models and offers a safer and more effective approach to carry out the token exchange.</p>\n<p>Even though ERC-777 ontracts interact in the same manner ERC-20 contracts do, the distinctive feature of the former is a <strong>hook mechanism</strong>. It simplifies the exchange of tokens between accounts and contracts. The hook mechanism is enabled once the tokens get sent to a computer-based analytical contract.</p>\n<p>Besides that, the ERC-777 token standard has many more advantages. For starters, it allows anyone to <strong>add new capabilities to tokens</strong>. For example, you can add an emergency recovery mechanism that would assist you if you were to misplace your <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-private-key-secret-key/">private keys</a></strong>.</p>\n<p>Another advantage of ERC-777 is the \"<strong>tokensReceived</strong>\" code, which is included in a contract. It is activated when tokens are received. The code helps to avoid the duplicate call that occurs with the <strong>ERC-20</strong> token standard when only the ERC-20 token owner is changed during the asset transfer from one <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">
smart contract</strong></a> to another.</p>\n<p>Additionally, the ERC-777 uses the brand-new <strong>ERC-820 standard</strong>. It makes it possible to register meta-data for contracts, facilitating a fundamental type of introspection. In addition to expanding capabilities, this makes it possible for <strong>backward compatibility</strong>.</p>\n<p>Moving further, the token standard has a <strong>new transfer function</strong>. Any identification info can be added to the transfer in a field called \"bytes.\" It is then used to instantly alert the recipient contract when a transfer gets completed.</p>\n<p>Now, even though the early security issues of ERC-777 have been fixed, it can still have some limitations like any other token.</p>\n<p>For instance, since it is possible to send ERC-777 tokens to any Ethereum address, you can essentially transfer them to contracts that do not support them, completely locking them in. And, even if the tokens can be mannualy moved, it is very hard to identify who sent the tokens back and from where.</p>\n<p>If you're curious <strong>where to get tokens based on the ERC-777</strong> standard, you can acquire them on most popular exchanges like <a href=https://www.bitdegree.org/"/crypto/goon/binance/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Binance</strong></a> or <a href=https://www.bitdegree.org/"/crypto/goon/bybit/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Bybit</strong></a>. For instance, <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bancor-bnt/">Bancor (BNT)</strong></a>, <a href=https://www.bitdegree.org/"https://www.bitdegree.org/cryptocurrency-prices/maker-mkr-price/">MakerDAO (MKR)</strong></a>, or <strong><a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-loopring-lrc/">Loopring (LRC)</a></strong> are all based on this standard.</p>","level":"medium","meta_title":"What is ERC-777? Definition & Meaning | Crypto Wiki","meta_description":"ERC-777 meaning: ERC-777 - a token standard for producing fungible tokens on the Ethereum network, which allows a novel token contract interaction method that is backward compatible.","meta_keywords":null,"language":"en","created_at":"2022-03-10T14:36:49.000000Z","updated_at":"2023-05-08T10:34:52.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-erc-777"},"prevSection":{"id":315,"original_id":null,"author_id":40,"translator_id":null,"title":"What is Equity?","slug":"what-is-equity","section":"E","keyword":"Equity","status":"published","definition":"is the money that would be sent back to an organization's investors if all of the company's assets were liquidated and obligations were paid off.","content":"<p><strong>From the finance perspective, equity refers to the value of a firm that is able to be assigned to its investor.</strong></p>\n<p>Original coin offers produce crypto ownership for the general public. Furthermore, blockchain enterprises that seek money issue cryptocurrencies to the public in the same way that traditional stocks do, through<a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-initial-coin-offering-ico/"> initial public offerings (IPOs)</strong></a>.</p>\n<p>Equity on a company's balance sheet represents the investor's ownership of the company. It is determined by subtracting a company's total assets from its total liabilities.</p>\n<p>Investing in a firm that provides equity shares is considered to be very advantageous for a few reasons. For starters, <strong>equity shares have a higher possibility to earn a profit than any other financial good</strong>. If the dividend yield is not as high at the moment, the potential for capital gain is tangible.</p>\n<p>Additionally, investors in equity shares benefit from tax advantages. The increased yield on stock shares is attributable to an increase in concept or capital gains, which are taxed at a lower rate than other earnings in most nations.</p>\n<p>The owner of shares has the right to sell their shares to another individual. The buyer is required to ensure the documents of ownership so the new owner gets dividends, and the right to vote.</p>\n<p>Finally, with a corporate form, the owners' obligations are typically restricted. In the majority of situations, the equity portion is paid in full. Shareholders may lose part, but not all of their funds. They are also not liable for the corporation's failure to meet its responsibilities.</p>\n<p>Besides, investors can select to obtain <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-token/">tokens of a cryptocurrency project and stake them to get a continuing stream of income. <strong>The number of rewards relies on the whole equity or tokens they possess of the particular cryptocurrency.</strong></p>\n<p>Organizations that prioritize <strong>value</strong> above <strong>evolution</strong> have a greater book value of stock than market value. In general, this shows that the market is skeptical of the firm's ability to produce value in the future, while value investors believe the market is absolutely wrong.</p>\n<p>Besides, a firm’s book value of equity is decided by the sector in which it operates and how it keeps its assets. Because they are unable to issue relatively high profits from their assets, organizations usually have a book value that is lower than their market value. This means that the worth of the organization is determined by the stock market.</p>\n<p>Equity is often presented in a financial report under its market value, which may be significantly larger or lower than the book value. <strong>The basis for this distinction is that financial records are backward-looking, while market experts forecast future profit development.</strong></p>","level":"medium","meta_title":"What is Equity? Definition & Meaning | Crypto Wiki","meta_description":"Equity meaning: Equity - is the money that would be sent back to an organization's investors if all of the company's assets were liquidated and obligations were paid off.","meta_keywords":null,"language":"en","created_at":"2022-03-10T14:17:02.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-equity"},"currentChapter":"E","currentSection":"what-is-erc-721","chapterTitle":"E","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-erc-721","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Crypto Terms: Letter E
What is ERC-721?
ERC-721 MEANING:
ERC-721 -
a token standard for non-fungible tokens based on Ethereum.
Let's find out ERC-721 meaning, definition in crypto,
what is ERC-721,
and all other detailed facts.
ERC-721 is different from ERC-20 in the sense that ERC-721 tokens are non-fungible. NFTs, or non-fungible tokens, are tokens that have different features setting them apart from one another.
For example, a $20 banknote is fungible. This is the case because you can give one of these banknotes to someone, and there is no need for you to get the same one back, because they are all the same. A non-fungible example might be a concert ticket. Even though the two tickets appear to be identical, the places they provide might be completely different. As a result, they cannot be switched.
In the Ethereum community, there is a strong belief that ERC-721 might have a variety of intriguing use cases that go far beyond collecting CryptoKitties, which made this asset class popular.
A number of competing blockchains, including Binance Smart Chain, have also established token specifications that are comparable to ERC-721. These tokens aid in bringing the idea to the blockchain, making sure that sensitive information about the asset can be immortalized.
Furthermore, NFTs can also be used to provide a digital version of one-of-a-kind masterpieces. Ownership of these pieces can easily be proven via blockchain records. Thus, this can become a great tool to reduce counterfeiting.