What are the differences between an ERC-20 wallet and an ERC-1155 wallet in terms of functionality and usability?

3 answers

• Nov 29, 2021 · 3 years ago
  An ERC-20 wallet is specifically designed to store and manage tokens that follow the ERC-20 standard on the Ethereum blockchain. It allows users to send, receive, and store ERC-20 tokens. On the other hand, an ERC-1155 wallet is designed to support both fungible and non-fungible tokens. It provides a more versatile solution for managing different types of tokens, including both single and multiple token types.
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• Nov 29, 2021 · 3 years ago
  When it comes to functionality, ERC-20 wallets are more straightforward and easier to use. They are widely supported by various cryptocurrency wallets and exchanges, making it convenient for users to manage their ERC-20 tokens. On the other hand, ERC-1155 wallets offer more advanced features and flexibility. They allow users to manage multiple token types within a single wallet, which can be useful for projects that issue both fungible and non-fungible tokens.
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• Nov 29, 2021 · 3 years ago
  From BYDFi's perspective, we believe that both ERC-20 and ERC-1155 wallets have their own advantages and use cases. While ERC-20 wallets are more commonly used and supported by existing infrastructure, ERC-1155 wallets provide a more comprehensive solution for managing different types of tokens. It ultimately depends on the specific needs and requirements of the user or project to determine which type of wallet is more suitable.
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