Openlake Supports Both ERC721 AND ERC1155 Protocols

Openlake supports ERC721 and ERC1155 with ETH, MATIC,BSC and Flow blockchain networks.

1. ERC1155

Openlake supports ERC1155, the multi token standard. Comparing to ERC721 and ERC20, ERC1155 has the advantages as below:

1. Batch Transaction
2. Faster Speed than ERC721
3. Support both Fungible and Non-Fungible Tokens
4. Better localization support for metadata including token name, description, image etc.
5. Support token URIs which can retrieve token metadata from 3^rd webservice.

2. ERC721

Openlake also supports ERC721 which has better ecosystem support.