Crypto Token Standards for Other Blockchains 

Though Ethereum established the concept of a Turin Complete computational blockchain, it wasn’t long before other chains emerged, often looking to emulate, and improve on, its use of Smart Contracts while applying token standards that are very similar.

Tezos Token Standards

The Tezos blockchain offers Smart Contract functionality but is designed to provide a more scalable infrastructure than Ethereum. Users can vote on proposals described in a TZIP format – Tezos Improvement Proposal. 

TZIP-7 introduced the equivalent of the ERC-20 token standard, described as FA1.2. It allows Smart Contracts to create and transfer fungible assets on the Tezos Blockchain.

FA2.0 provides hybrid support of fungible and non-fungible tokens on Tezos, making it comparable to ERC-1155. It supports batching and the use of meta-data.

NEO Token Standards

NEO is often considered the Chinese version of Ethereum, and just like Ethereum supports Smart Contracts and token standards. Where Ethereum has EIPs (Ethereum Improvement Proposals) NEO has NEPs (NEO Enhancement Proposal).

NEP 5 set out the token standards for general Smart Contract interaction, following very closely to ERC-20, defining Supply, Symbol, Transfer and Balance; NEP 5 was improved in NEP-17.

NEO also supports NFTs through the NEP 11 standard. NEP 11 allows for non-fungible tokens definitions such as Name, Owner, Asset Type, and customisable token attributes that are particularly relevant within art collections and gaming.

EOS Token Standards

The EOS blockchain was launched in 2018 with the grand ambition of becoming the most scalable Turing Complete blockchain, aiming to process millions of transactions per second. Like Ethereum, it has its own Smart Contract logic, unique consensus mechanism, and a comparable approach to token standards.

EOS, the native currency, is managed in a system contract – the eosio.token contract. It is comparable to the ERC-20 standard, though multiple tokens can be managed from this single contract – creating, issuing, transferring and adjusting the supply of EOS tokens.

EOS has a specific standard for handling non-fungible tokens, dGoods, developed through Mythical Games, part of the wider EOS ecosystem. 

dGoods are comparable to ERC-1155 given they provide a hybrid standard for both fungible and non-fungible items, including:

• Metadata Templates for 3d & 2d assets – such as in-game items, tickets, music files & art
• Certificates of Authenticity – Immutable fields describing an object’s attributes and proving authenticity
• One token contract handling multiple tokens – Contracts can include token subsets allowing for any number of different tokens handled in one contract
• Fungible & non-fungible – Sub-tokens can have fungible and non-fungible characteristics within the same contract

Ethereum provided a standard format for the exchange of unique items of value – tokens – 

giving a new generation of creative entrepreneurs the freedom to invent entirely new digital economies free of the friction in the analogue world.

There is no concern about Imperial vs Metric or driving on the left-hand side or the right. Standards make life simpler, and because Ethereum was essentially creating a new world, its founders got to develop their own set. Though rival blockchains have emerged, all retain the  concept of token standards introduced by Ethereum, showing their fundamental importance to the growth of blockchain-based economies.