Examples of smart contracts
Popular Smart Contracts
Smart contracts are self-executing computer programs that enable reliable and secure digital agreements without the need for intermediaries. In the web 3.0 era, these contracts are essential for creating and managing digital assets such as non-fungible tokens (NFTs) and fungible tokens (FTs).
In this article, we will explore how the ERC721, ERC1155, and ERC4337 contracts are transforming the management of digital assets in web 3.0, enabling the creation of new decentralized applications and business models.
Examples of smart contracts:
The ERC721 contract is a smart contract standard used to create non-fungible tokens (NFTs) on the Ethereum blockchain. NFTs represent unique and one-of-a-kind assets such as digital artworks, collectibles, and tickets. Each NFT created from the ERC721 contract is unique and can be identified by a unique identifier registered on the blockchain. This enables the creation of new decentralized business models in the web 3.0 space, especially in the art and digital collectibles sector, as well as in game development, where unique tokens can represent characters, items, and abilities.
On the other hand, the ERC1155 contract is a smart contract standard on the Ethereum blockchain that allows the creation of digital tokens, both fungible and non-fungible, within a single contract. This enables the creation of more complex business models, such as in online gaming and digital collectibles, where tokens can represent different types of virtual items.
Lastly, the ERC4337 contract is a smart contract standard used to create governance tokens on the Ethereum blockchain. Governance tokens are used to grant voting power to token holders in decisions related to the management of a project or protocol. This enables the creation of decentralized governance models where the community can make important decisions without the need for intermediaries.
In addition to these examples, smart contracts have the potential to be used in many other sectors, including finance, real estate, logistics, and more.
By Sonica W3 Learning Center