Everything that happens on Ethereum, at the most fundamental level, is represented by data. Whether you swap ETH for USDC on Uniswap or buy a CryptoPunk on OpenSea, everything included in the transaction—your wallet address, fungible tokens, non-fungible tokens, decentralized applications, etc.—is broken down into smaller, computer-readable chunks of data. 

For a transaction to be considered legitimate, its data must be shared across the network, validated, and processed by computers that then store the transaction data in a block. A transaction’s size and complexity determines the cost and time required to process it.

In the same way that not all transactions are created equal, not all tokens on Ethereum are created equal. Some tokens are generic and easily interchangeable (for example, UNI, COMP and GRT) while others are unique (for example, non-fungible tokens or NFTs). As such, different token standards exist to address different use cases.

This article discusses ERC-1155, a flexible Ethereum token standard that allows for the transfer of multiple types of token at once.

What is ERC-1155? 

All updates to Ethereum go through the Ethereum Improvement Proposal (EIP) process. Anyone from the community can submit a proposal. If it meets certain standards, it becomes an EIP which is then discussed and voted on. If the proposal passes, Ethereum is updated with its improvements.

“ERC” stands for Ethereum Request for Comments. It is a type of EIP focused on standards for Ethereum applications, a category that includes tokens. 

Tokens are transferable units of value….

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