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What the important differences between ethereum?

What’s the difference between ERC and EIP?

a) Ethereum Request for Comments (ERC) are wont to define standards for the usage of Ethereum. Ethereum Improvement Proposals (EIP) are wont to improve the Ethereum Protocol itself.
b) Ethereum Request for Comments (ERC) are wont to propose new distributed applications on top of the Ethereum layer, while Ethereum Improvement Proposals (EIP) are wont to improve existing mining software.
c) Ethereum Request for Comments (ERC) are an open platform to debate continuous forking of the Ethereum platform. Successful forks are then incorporated within the Ethereum Improvement
Proposals (EIP) for further voting by the Ethereum Consortium.

2. What’s the difference between ERC20 and ERC721 Tokens in simple terms?

a) The tokens of a particular ERC20 symbol are all equivalent, the tokens of an ERC721 symbol are all different. So, ERC20 tokens are fungible, while ERC721 tokens are non-fungible.
b) The tokens of a particular 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.
c) The ERC20 token standard was the primary standard token contract out there which was superseded by ERC721 tokens so as to support different token standards. one among the token standards that were necessary as non-fungible tokens. Since ERC721 tokens exist there’s no need for ERC20 tokens anymore.

3. so as to implement an ERC20 token contract, we’d need a minimum of to implement the subsequent functions and events so as to satisfy the interface requirements:

a) total supply(), balance(address), allowance(address,address), transfer(address,uint256), approve(address,uint256), transfer from(address,address,uint256). Events: Transfer(address,address,uint256), Approval(address,address,uint256)
b) name(), symbol(), totalSupply(), balanceOf(address), ownerOf(uint26),approve(address,uint256), takeOwnership(uint256),transfer(address,uint256),Events: Transfer(address,address,uint256),
Approval(address,address,uint256)

4. Why is it important to follow equivalent Interfaces?

a) Because websites that attempt to interface with the Token would need to know the precise ABI. With the standard Interfaces, it’s clear how the interaction has got to be defined.
b) By following the quality interface the Ethereum Foundation can easily validate the Tokens and approve any audits
c) The Interface may be a mere suggestion for the developer. the particular Token contract can look totally different and would still be considered an ERC20/ERC721 token.