Standards
Research Papers
Academic and industry research
EIP-20: ERC-20 Token Standard
Fabian Vogelsteller, Vitalik Buterin
EIP-20 defines a standard interface for fungible tokens on the Ethereum network. Before this standardization, token development lacked interoperability, complicating integration with decentralized exchanges and wallets. By mandating a uniform set of functions and events, the ERC-20 standard ensures that any token adhering to the specification can interact seamlessly with dApps, contracts, and wallets across the ecosystem. This standardization was a pivotal catalyst for the Initial Coin Offering (ICO) era and the broad expansion of decentralized finance (DeFi), as it allowed developers to issue new assets that were immediately compatible with existing infrastructure without requiring custom code integration for every new project.
EIP-721: Non-Fungible Token Standard
William Entriken, Dieter Shirley, Jacob Evans, Nastassia Sachs
EIP-721 introduced the standard for non-fungible tokens (NFTs) on Ethereum, providing a programmatic way to track ownership of unique, distinct assets. Unlike fungible tokens (ERC-20), each ERC-721 token has a unique identifier, allowing for the representation of digital art, collectibles, real-world assets, and in-game items. The standard defines how to transfer tokens, check ownership, and manage metadata associated with these unique assets. By providing a common framework, EIP-721 laid the foundation for the NFT market, enabling the verifiable scarcity and provenance of digital items. Its adoption transformed how ownership and digital content are managed on-chain, proving the viability of blockchain for identity and creative industries.
EIP-1155: Multi Token Standard
Witek Radomski, Andrew Cooke
EIP-1155 introduced the Multi Token Standard, an efficient framework capable of representing multiple token types—both fungible and non-fungible—within a single smart contract. This architectural improvement addresses the limitations of EIP-20 and EIP-721, which require separate contract deployments for each token type. By reducing the number of contract deployments, the standard significantly lowers gas costs and complexity for dApps, particularly in gaming and complex asset ecosystems where many unique and non-unique items coexist. EIP-1155 allows for batch transfers and multi-asset management in one transaction, offering significant scalability benefits for decentralized applications requiring diverse tokenized inventories.