đĒCIS-2 Token Types
In this section you'll learn about the component responsible for creating different types of tokens on Concordium.
What is the Concordium Interoperability Standard (CIS-2)?
Concordium uses a standard for creating tokens called Concordium Interoperability Standard, abbreviated to CIS-2.
In simpler terms, CIS-2 acts as a blueprint or specification that defines the structure and behavior of different token types on the Concordium blockchain. Developers implement the standard within smart contracts to ensure that all the CIS-2 tokens adhere to the same rules and interact seamlessly with each other.
Unlike other Layer-1 token standards, CIS-2 supports multiple token types in one standard: Fungible tokens, Non-fungible tokens, semi-fungible tokens, and Soulbound tokens.
CIS-2 defines the required properties and functions common to all CIS-2 tokens, ensuring interoperability and consistency.
How does CIS-2 work?
As a developer, let's say you want to create different types of digital tokens on the Concordium blockchain. Each token will have its unique attribute or property, which defines the specific characteristics of each token type.
Then, you create smart contracts on the Concordium blockchain with a standard interface (a set of pre-defined functions and properties) that every CIS-2 token must have, regardless of its type. This standard interface is the common set of techniques all the CIS-2 tokens share.
This set of predefined functions and properties includes:
Transferring token ownership
Permitting other addresses to transfer tokens on your behalf.
Checking token balances, ownership, and metadata.
Note that it allows off-chain applications to track token balances and the location of token metadata through logged events.
What are the benefits of CIS-2?
Implementing this standard offers several benefits. Some of these include:
It creates a unified standard for different token types on Concordium.
It simplifies development for token creators.
It enables interoperability between different token types.
Now, you can move to the next section to learn about the token types supported by CIS-2.
Last updated