Coin Rivet recently sat down with Enjin co-founder and CTO Witek Radomski to discuss the creation and increasing popularity of the ERC-1155 standard.The creation of ERC-1155
Speaking on the origin of ERC-1155, Witek – who is the author of the standard – noted: “We developed ERC-1155 because we saw a need in token standards and Ethereum – what exists is ERC-20 and ERC-721.”
ERC-20 and ERC-721 are limited because they can only issue single transfers in a smart contract. ERC-1155 meanwhile has the function to issue unlimited mixed fungible and non-fungible tokens (NFTs).
Witek stated: “There is no clear, easy way to create multiple types and classes of tokens. So when you think of a game you can have things like currencies, maybe credits or gold, and those are fungible tokens. You might have non-fungible unique items or characters inside that game as well.
“We needed a way to create all types of tokens and then manage them in the same contract, because when you have ERC-20, for example, if you deploy multiple contracts of that onto the blockchain, each contract is its own little island, and it has its own approvals and permissions.
“They can’t easily interoperate – you have to jump through a bunch of hoops to do things on multiple tokens at once.”
Roughly a year ago, the standard was first created on the Ethereum GitHub page. Over the past year, the community has been commenting and leaving feedback, and from there the standard has been revised to make it more applicable to different use cases.
“Now we have something like 350 comments on the page – everyone offering their reviews, their fixes, their new ideas – and we revise the standard over and over and now its really well refined. We’re actually putting it into final state form soon,” revealed Witek.‘It acts like a vending machine’
Speaking on how well the Ethereum community has received the standard, Witek noted that previously there were only real...