How Does ERC-1155 Improve Gas Efficiency over ERC-20 and ERC-721?
ERC-1155 improves gas efficiency by allowing batch operations. Instead of requiring separate transactions for each token type, it can transfer multiple fungible or non-fungible tokens in a single transaction.
This significantly reduces the overall gas cost. Furthermore, it combines the logic for both fungible and non-fungible tokens into one contract, saving deployment and interaction costs.
Glossar
ERC-1155
Standard ⎊ This refers to the Ethereum Request for Comment specification that defines a multi-token standard, allowing a single contract to manage both fungible and non-fungible assets simultaneously.
Erc-20
Architecture ⎊ The ERC-20 standard defines a uniform API for fungible tokens on the Ethereum blockchain, facilitating interoperability between decentralized applications and exchanges.
Gas Efficiency
Optimization ⎊ Gas efficiency, within cryptocurrency and derivatives, represents the minimization of computational resources expended per unit of transactional throughput.
Fungible and Non-Fungible
Interchangeability ⎊ Fungibility, within financial instruments, denotes the property of an asset having units that are mutually interchangeable; each unit possesses equivalent value and characteristics, crucial for efficient market operation and standardized contract design.