Token Standards

Token Standards on Ignite Chain

A token in every blockchain ecosystem function as the central element of a new economy and ecosystem. The standard of a particular token defines a set of rules that governs its utility and issuance. ERC tokens (Ethereum Request for Comments), which is a technical standard used for smart contracts, such as ERC20, ERC721 on the Ethereum are the example of token standards.

Token standards on Ignite Chain

Ignite chain introduces two types of token standards with its own unique function including IGT-20 and IGT-721. Both this token standards can be divided into separate categories as fungible tokens (IGT20) and non-fungible tokens (IGT721).

Fungible tokens are all equal, divisible and interchangeable. It all can be divided into smaller token units such as 0.1 IGT, 0.002 IGT. Whereas non-fungible tokens (NFTs) are all distinct and non-divisible. Thus it could represent a unique asset, like a certificate or a collectible in-game item.

pageIGT-20 TokenspageIGT-721 Tokens