Tokens are usually built by an Ethereum blockchain, Creating a token is an easy process as you don’t need to modify the codes from the particular protocol, Tokens are digital assets or unit of value issued by a company, that can be used by a method of payment inside the project. Most of the tokens are launched on Ethereum blockchain.
ERC 721 is a type of unique token, Mainly used for Gaming purpose Because these tokens are the advanced version which is used by many gaming platforms. This token can be developed on the Ethereum blockchain network and it allows unique tokens to be managed, owned and traded. In ERC-721 token each tokens can hold a different value.
The ERC-721 Standard is the backbone for the creation and trading of non-fungible assets.
ERC20 token is the digital tokens that can be used on the Ethereum Platform. Ethereum is a decentralized network that is able to support decentralized applications such as DApps. It can be easily integrated with wallets and exchange platforms.
ERC-1400 token is a Crypto token built on Ethereum blockchain and it was created by Polymath along with numerous external contributors. Security tokens can be a digital form of all financial securities and they might have their own Ethereum-based token standard called ERC-1400, it works with several other token standards to manage both Fungible and Non-fungible token.
ERC223 allowing users to transfer tokens to smart contracts and wallets with the same function. Also, ERC-223 tokens improve on the adaptability of ERC-20s by making transfers require only 1 step rather than 2. That means that ERC-223 token transfers need only half the Gas (i.e. cheaper) as compared to ERC-20 token transfers.
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