Having an idea to create your own ERC720/721 token? Don’t worry, you have just vacated the right place to build your own token. Yeah, Coinjoker- Ethereum ERC 720/721 Token Development company offers complete guidance from the scratch to build your own ERC 720/721 token.
Let’s see clear explanation about ERC 720/721 token, before you create it own.
What does ERC mean?
ERC is the abbreviation of Ethereum Request for Comments. An ERC is approved by Ethereum community developers in the form of a memorandum describing methods, behaviors, research, or innovations applicable to the working of the Ethereum ecosystem. It is submitted either for peer review or simply to convey new concepts or information. After core developers and community approval, the ERC proposal becomes a standard.
What does ERC-721 token actually mean?
The goal of this proposal, ERC-721 is to created for a non-fungible token. But, In ERC-20 and ERC-223 standards we have a supply of tokens, where tokens are fungible.
ERC-721, each token is completely unique and non-interchangeable with other tokens. Best example for ERC 721 token is- Many people have dogs, but THAT dog is theirs and they will not accept some other dog as a substitute. You can use ERC-721 tokens to represent those dogs and dog ownership.
ERC-721 standard defines a minimum interface a smart contract must implement to allow unique tokens to be managed, owned, and traded. It does not mandate a standard for token metadata or restrict adding supplemental functions.
- Multiple products - Each product has its own inventory levels and total supply, housed in one contract
- Subscriptions - Products can (optionally) expire and be renewed by paying additional funds
- Affiliate program - Affiliates can get a cut of sales they refer with individual, whitelisted rates (including recurring affiliate revenue with subscriptions)
- Roles-based permissions - The store has three roles: CEO, CFO, and COO
- Full ERC-721 Compatibility - Each license issued is also an ERC-721-compatible token
- CLI Admin Tools - With Ledger hardware wallet support
The ERC-721 services:
We are providing wide range of services for ERC 721 in various forms like
- Wallet development
- Smartcontract development
- Blockchain APP Development
- Ethereum Consulting
- Smart contract Auditing services
- Cryptocurrency Development Services.
Covering different business verticals like:
- Retail and Ecommerce
- Finance and Banking
- Education and E-learning
- Media and Entertainment
- Travel and Tourism
- Medical and Healthcare.
The benefits of ERC 721-compatible tokens:
- Piracy deterring -- Because the private key is used to validate the license, owners are dis-incentivized to share that key. Because if the key is shared, for example, on a file-sharing site the license can be transferred, stolen, and sold.
- Surveillance free -- There is no "license server" tracking the user. Ownership of the token is validated by any Web3 provider (e.g. Infura or even a self-hosted node)
- Scarce -- The number of licenses available for a given product can be limited
- Transferable -- Users can transfer or resell their licenses (e.g. they can be auctioned on sites such as Rarebits or OpenSea)
- Cryptocurrency-based -- Normal-cryptocurrency benefits apply such as near-instant payments, permissionless, decentralized ownership, etc. No approvals, Stripe, Shopify store, or bank account necessary.
Coinjoker- Ethereum 720/721 Token Development Company
Our company offers high-end secure and complete customizable and unique business solutions to create your own ERC 720/721 token creation. And also we provide 24/7 support, and instant bug identification and resolving your problems instantly. Our dedicated developers helps you to create Non-fungible and unique token as per your requirements with shorter duration of time.