List Out The Contrasting Fact of Fungible Tokens & Non- Fungible Token

List Out The Contrasting Fact of Fungible Tokens & Non- Fungible Token


What Is Fungible Token?

Fungible tokens are commonly used as a monetary value and are exchanged as currencies. In the exchange of fungible tokens, it does not hold any meaning, since they have the same value which are chiefly utilized to track balances and make payments.

Non Fungible Tokens

The crypto tokens which hold data in place of value and are unique are known as non fungible tokens. No two NFT’s can hold the same value. These tokens do not inherit any value as well as differ from cryptocurrencies.

Fungible Tokens and Non Fungible Tokens

Fungible: Easily Interchangeable used to buy and sell assets. They have no additional value.

Non Fungible: Also interchangeable with unique data value

Fungible: Depends on ERC-20

Non Fungible: Based on ERC-721 Standards

Fungible: Chiefly used to make payments and track assets

Non Fungible: Chiefly used to represent owners unique entity

Fungible: Value transfer depends on the number of tokens an owner’s possession.

Non Fungible: Value transfer is based on the unique value that a token possesses.

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Sophia Linnea

Sophia Linnea

SecurityTokenizer - First-Rated STO Development Company offering end-to-end STO solutions such as Security Token Offering Services, STO Dashboard Development, STO Marketing & STO Consulting Services >> https://www.securitytokenizer.io/

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