Tokens & NFT 2.0
The interfaces used to interact with these standards are inspired by EIP1155, a Multi-Token standard for multiple token types (fungible, non-fungible, or other configurations).
One of the main questions about NFT 2.0 is which characteristics make them the next generation of digital assets on the blockchain.
How different are they compared to traditional ERC20 tokens / ERC721 NFTs?
How Tokens & NFT 2.0 are different?
See the LSP4 - Digital Asset Metadata standard for more information.
The existing tokens and NFTs standards do not offer a standard way to attach information to the contracts themselves. Such information (= metadata) is crucial to make each token or NFT descriptive and customized.
Consider the current ERC20 and ERC721 standards as an example. These standards only define a
tokenURI. But how about if we would like to attach more specific data to the asset? (e.g., icon, asset creator(s), token utility or motive, community behind it).
The Tokens and NFT 2.0 Standards solve this problem by using ERC725Y as a backbone. ERC725Y enables smart contracts to have very flexible and extensible storage. With ERC725Y, any information or metadata can be attached to the token or NFT.
Tokens and NFT 2.0 introduce a new
force parameter (default: FALSE). The intention behind it is to prevent transfers that can result in assets being lost forever.
- Accidental transfers: pasting the wrong recipient address or making a typo due to input mistakes.
- Unsafe transfers: sending assets to unwanted or untrusted addresses.
In the LUKSO ecosystem, the
force parameter restricts transfer to Externally Owned Accounts (EOA) or contracts that do not implement the LSP1 - Universal Receiver standard. The reason behind it is that contracts not implementing the
universalReceiver(...) functionality might not be able to register or transfer these assets after receiving them.