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

Limited Time Offer

25%

Off

Get Premium CBDE Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Trinidad

3 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?

upvoted 0 times

Kristel

2 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.

upvoted 0 times

...

Cassi

3 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?

upvoted 0 times

...

Oneida

3 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.

upvoted 0 times

...

Lashawn

3 months ago

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

upvoted 0 times

...

Billye

3 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.

upvoted 0 times

...

Leslee

4 months ago

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

upvoted 0 times

Pilar

3 months ago

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

upvoted 0 times

...

Latrice

3 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.

upvoted 0 times

...

Yan

3 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.

upvoted 0 times

...

Lorrine

4 months ago

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

upvoted 0 times

...

Casey

4 months ago

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

upvoted 0 times

...

Nobuko

4 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.

upvoted 0 times