Challenge #2: 🪙 Multi Token Vendor | Speedrun Ethereum With Vyper

Table of contents

• 🪙 Introduction
• 📦 Setup
• 📑 Code
• 🔬 Conclusion

🪙 Introductionn

ERC1155 is a novel token standard that draws inspiration from previous standards like ERC20, ERC721, and ERC777 to create a more efficient and fungibility-agnostic token contract. This standard is designed to be gas-efficient and allow for the creation of multiple token types within a single contract, which can significantly reduce transaction costs and increase flexibility for developers.

By taking the best ideas from previous standards, ERC1155 aims to provide a more streamlined and versatile approach to token development. If you're not already familiar with ERC20, ERC721, and ERC777, it's worth reviewing their guides to better understand the context and benefits of ERC1155. Overall, this standard represents an exciting step forward in token development and has the potential to unlock new possibilities for DeFi and other blockchain applications.

📦 Setup

For setting up the project on a local machine, only one essential component is required:

• Python

Python is the primary programming language used in the project, it includes PIP, which serves as the package manager for Python and Virtual ENV is an essential tool used for creating a virtual environment that will house the application's code.

While the process for setting up these components is beyond the scope of this challenge, in essence, it involves installing Python and configuring a virtual environment for the application's code. It is important to note that creating a virtual environment for the project ensures that the application's dependencies and requirements are isolated from those of the host system, thereby improving stability and reproducibility.

Brownie

If you are going to use Brownie in this challenge, in your virtual environment, go ahead and install Brownie, after you installed it, create a new folder called vaults and inside it run the following command:

$ brownie init

Also, you might want to use the Hardhat node to test our smart contracts, so inside your project folder, run the following command:

$ npm install --save-dev hardhat

ApeWorx

If you are going to use ApeWorx in this challenge, activate your virtual environment and install ApeWorx:

$ pip install eth-ape'[recommended-plugins]'

After you installed it, create a new folder called vaults and inside it run the following command:

$ ape init

📑 Code

The ERC-1155 standard is a novel token standard that aims to take the best from previous standards to create a fungibility-agnostic and gas-efficient token contract. ERC1155 draws ideas from all of ERC20, ERC721, and ERC777. Inside your contracts folder, create a file called token.vy this will contain all of the code necessary to implement the ERC-1155.

Token (ERC-1155)

In this chanllege, there is no barebones implementation of the 1155 token standard in Vyper. Can you make it from scratch?

# @version >=0.3.3

# ... missing ERC-1155 implementation

Important: ⚠️🐍 If you are new to Vyper, don't worry, it was designed to be simple and readable, making it easier for programmers with any level of experience to quickly grasp the language. If you need more guidance, there are many resources available online to help you get started, such as the Vyper documentation, tutorials, and community forums.

Feel stuck? Take a look at the Vyperlang Official Implemenation

🔬 Conclusion

In this challenge, we have explored the ERC1155 token standard and its role as a fundamental building block of DeFi and NFT applications on EVM-compatible blockchains, and in conclusion, ERC1155 is a novel standard that combines the best ideas from previous standards like ERC20, ERC721, and ERC777 to create a more efficient and flexible token contract. By allowing for the creation of multiple token types within a single contract, ERC1155 can significantly reduce transaction costs and increase flexibility for developers.

Finally, implementing the ERC1155 token standard in Vyper can be done from scratch by following the guidelines and resources provided. Overall, ERC1155 represents an exciting step forward in token development, and its potential to unlock new possibilities for DeFi and other blockchain applications makes it a standard worth exploring.

📒 Note: Whether using Brownie or ApeWorx, creating a virtual environment for the project ensures that the application's dependencies and requirements are isolated from those of the host system, improving stability and reproducibility.

🐍 Note: The Vyper programming language offers several advantages over other languages, including higher security, improved gas efficiency, and enhanced code readability, making it a great option for NFT development projects.