Blockchain Exam CBDE Topic 1 Question 104 Discussion

Actual exam question for Blockchain's CBDE exam

Question #: 104
Topic #: 1

[All CBDE Questions]

What is the difference between ERC20 and ERC721 Tokens in simple terms?

AThe tokens of a certain ERC20 symbol are all the same, the tokens of an ERC721 symbol are all different. So, ERC20 tokens are fungible, while ERC721 tokens are non-fungible.

BThe tokens of a certain ERC20 symbol are all different, the tokens of an ERC721 symbol are all the same. So, ERC20 tokens are non-fungible while ERC721 tokens are fungible.

Show Suggested Answer

Suggested Answer: A

by Dianne at Nov 15, 2024, 08:02 AM

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Trinidad

7 months ago

Ha! I bet the person who wrote this question owns a bunch of NFTs. Gotta keep up with the crypto trends, you know?

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Kristel

6 months ago

A) The tokens of a certain ERC20 symbol are all the same, the tokens of an ERC721 symbol are all different. So, ERC20 tokens are fungible, while ERC721 tokens are non-fungible.

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Cassi

6 months ago

Ha! I bet the person who wrote this question owns a bunch of NFTs. Gotta keep up with the crypto trends, you know?

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Oneida

7 months ago

A) The tokens of a certain ERC20 symbol are all the same, the tokens of an ERC721 symbol are all different. So, ERC20 tokens are fungible, while ERC721 tokens are non-fungible.

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Lashawn

7 months ago

So, ERC20 tokens are like dollar bills, all the same, while ERC721 tokens are like unique pieces of art. Got it!

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Billye

7 months ago

Option A makes the most sense to me. The non-fungibility of ERC721 tokens is what sets them apart from the fungibility of ERC20 tokens.

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Leslee

7 months ago

I agree with Nobuko. The key difference is that ERC20 tokens are interchangeable, while ERC721 tokens are not.

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Pilar

6 months ago

I agree with Nobuko. The key difference is that ERC20 tokens are interchangeable, while ERC721 tokens are not.

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Latrice

6 months ago

B) The tokens of a certain ERC20 symbol are all different, the tokens of an ERC721 symbol are all the same. So, ERC20 tokens are non-fungible while ERC721 tokens are fungible.

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Yan

6 months ago

A) The tokens of a certain ERC20 symbol are all the same, the tokens of an ERC721 symbol are all different. So, ERC20 tokens are fungible, while ERC721 tokens are non-fungible.

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Lorrine

7 months ago

That makes sense. Fungible means each token is the same, while non-fungible means each token is unique.

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Casey

7 months ago

I think the difference is that ERC20 tokens are fungible, while ERC721 tokens are non-fungible.

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Nobuko

8 months ago

Option A is the correct answer. ERC20 tokens are fungible, meaning they are all the same, while ERC721 tokens are non-fungible, meaning each token is unique.

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