A transaction is the needed indicator to execute some aspect of a smart contract’s functions. They are mined by block producers for a fee called gas.
Deborah Joy Peter
ERC-20 works for fungible tokens. But what is a fungible token? It is a token replaceable by another identical item. Discover the six mandatory functions of the ERC-20 standard here.
The ERC-721 standard caters specifically to non-fungible tokens. What are they and how do these tokens impact smart contracts? NFTs for short, these are unique digital assets.
Referred to as the multi-token standard, the ERC-1155 protocol is the accepted interface that can combine multiple token types under a single contract.
An Ethereum account is an entity with an ether (ETH) balance that can send transactions on the chain. These accounts are either user-controlled (human) or deployed as smart contracts (code-dependent).