Token Standard

A token standard is a set of rules and specifications that defines how tokens behave on a particular blockchain. Token standards ensure that all tokens following the same standard are compatible with wallets, exchanges, and applications on that network. The most well-known standards include ERC-20 (fungible tokens on Ethereum), ERC-721 (NFTs), ERC-1155 (multi-token), BEP-20 (BNB Chain), and BRC-20 (Bitcoin).