Understand the methods of exchange of Ethereum token
As ECR20 notebooks, you are probably curious to know the different methods to exchange your token for other cryptocurrencies. In this article, we will immerse ourselves in different approaches and explain how to determine which method is used when exchanging tokens.
ERC-20
token standard **
Before diving into the specifics of the exchange of tokens, it is essential to understand the ERC-20 standard, which is the foundation of all the ECR20 tokens. The ERC-20 standard defines a set of rules to create and manage digital assets, including the types of tokens like ECR20.
Exchange methods
There are several chip exchange methods available in Ethereum ecosystem:
- ERC-721 Nonbobilist tokens (NFT)
: This method is used to exchange NFT, which represent unique digital elements.
- ERC-721 NFT Norm with additional fields : Certain implementations of the ERC-721 include additional fields which can be used to store information on the exchanged token.
- Swap Token ERC-20 : This is the standard method to exchange ECR20 tokens and other ERC-20 tokens.
Specific Methods for ECR20
As an ECR20 token holder, you are probably interested in understanding how to exchange your token. Here are some methods that can be used:
- ERC-721 NFT Standard : To exchange your ECR20 token for another ECR20 token using the non-bubble token standard ERC-721, you will have to:
* Create an instance of the ERC721 'contract on Ethereum (for example, via the implementation' ERC721 ” of Openzelin).
* Define the “Tokenuri” property to point to your original ECR20 token.
* Define a new variable for the exchanged token and initialize it with the address of your target token.
- Swap Token ERC-20 : To exchange an ECR20 token for another ERC-20 token using the standard method, you will have to:
* Create an instance of the “ERC20” contract on Ethereum (for example, via the `ERC20 ”implementation of Openzelin).
* Define the "Address" property to point to your original ECR20 token.
* Define a new variable for the exchanged token and initialize it with the address of your target token.
Code example
To illustrate these concepts, consider an example using theERC721 '' contract of OpenZeppelin:
Solidity
Pragma Solidity ^ 0.8,0;
Contract Mytoken {
// Standard implementation of ECR20 token 20
structure nft {
Message bytes256;
}
SWAP (NFT MEMORY NFT) public function (
// Define the Tokenuri property to point to your original ECR20 token
NFT.TOKENURI = "0x ...";
// Define a new variable for the exchanged token and initialize it with the address of your target token
Address exchangedstokenaddress = 0x ...;
// update the balance of the exchanged token
Swaptoken (swappingtokenaddress, nft.message);
}
SwaptoKen function (address exchangedstokenddress, public memory message) public {
// Check if the exchanged token exists and update its balance
require (msg.sender! = address (0), "swap only authorized for the ECR20 token");
uint256 balance = totalsupply ();
Swaptoken.balanceof (msg.sender, 0, swappedtokenaddress);
}
Function Totalsupply () Returns of public view (Uint256) {
Back 1;
}
}
` ‘
In this example, the “swap” function defines the “tokenuri” property of an NFT instance to point out your original ECR20 token and defines a new variable for the exchanged token. The “swaptotoke” function checks if the exchanged token exists before updating its balance.
Conclusion
Understanding how to exchange tokens with different methods may seem complex, but decompose it into smaller steps and familiarize yourself with the ERC-20 standard will make it more manageable. Do not forget to always follow the best safety and development practices of intelligent contracts when implementing tokens swaps in your Ethereum projects.