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OZ ERC1155.md

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153 - OZ ERC1155

OpenZeppelin ERC1155: is a novel token standard that aims to take the best from previous standards to create a fungibility-agnostic and gas-efficient token contract.

  1. The distinctive feature of ERC1155 is that it uses a single smart contract to represent multiple tokens at once

  2. Accounts have a distinct balance for each token id, and non-fungible tokens are implemented by simply minting a single one of them.

  3. This approach leads to massive gas savings for projects that require multiple tokens. Instead of deploying a new contract for each token type, a single ERC1155 token contract can hold the entire system state, reducing deployment costs and complexity.

  4. Because all state is held in a single contract, it is possible to operate over multiple tokens in a single transaction very efficiently. The standard provides two functions, balanceOfBatch and safeBatchTransferFrom, that make querying multiple balances and transferring multiple tokens simpler and less gas-intensive.

Slide Screenshot

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Slide Text

  • ERC1155 Token Standard
    • Fungibility-agnostic
  • Single Contract -> Multiple Tokens
  • Convenient & Efficient
  • Single Tx -> Multiple Tokens
  • balanceOfBatch()
  • safeBatchTransferFrom()

References

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