Ethereum based tokens which can be bought, sold, or traded, have become the backbone of Ethereum ecosystem, innovative companies use them as internal currencies within their ecosystem. ERC 20 is the most well-known among all the standards present within the entire crypto community, and most tokens issued on top of the Ethereum platform use it. Helping developers to accurately predict how new tokens will function within the larger Ethereum system. 6 Types Of ERC Token Standards Hence, it is very easy to create several tokens and they all interact with each other in a standard way as if they are all same. It is very useful when a developer wants to add extra tokens, he won’t have to go through the customization rather the knowledge of Ethereum token standard will do the trick. ERC-223 ERC-223 has not become a token standard yet, it is a proposal right now which is being mulled upon by the Ethereum community. As a result, it hasn’t been implemented into the production tokens yet and Cryptocurrency MLM exchanges may have to modify before making use of this token standard. ERC-721 This token standard is also a proposal so far, the basic purpose of which is to create a non-fungible token. In the other standards, tokens are fungible which means they exchangeable or equal to another unit. This is a problem only when you want to assign a different price to some tokens or want them to be different from others. In case you are investing these tokens in different areas of business, for example, you allot 100 tokens to electricity and 100 to real estate, you will probably have assign them different prices as the value of businesses may vary. This token standard will make the business investment very easy for traders.