What is KCT, KIP-7, and KIP -17?
Hello. This is Klaytn API Service team.
Please refer to the following information about KCT, KIP-7, and KIP-17.
[KCT]
Klaytn Compatible Token (KCT) is a special type of smart contract that implements certain technical specifications. Token standards are defined in Klaytn such as KIP-7 and KIP-17.
[KIP-7]
KIP-1 is a fungible token that has properties of uniformity and divisibility. Every fungible token is
interchangeable as each unit of token possesses the same value. A standard interface allows any
token on Klaytn to be re-used by other applications. KIP- 7 is derived from ERC-20 written by Fabian
Vogelsteller and Vitalik Buterin. Please refer to the information below about differences with ERC-20.
Differences with ERC - 20
- More optional functions are included (e.g. mint, burn and pause extension).
- Every token transfer/mint/burn MUST be tracked by event logs. This means that a Transaction MUST be emitted for any action related to transfer/mint/burn.
- The KIP-13 interface for each method group MUST be implemented.
Please refer to KIP-7 documents for further details.
[KIP-17]
KIP-17 is a non-fungible token standard. It has unique values and it is not interchangeable.
KIP-17 allows wallet/ broker/ auction applications to work any NFT on Klaytn. It provides simple KIP-17
smart contracts as well as contracts that track an arbitrarily large number of NFTs. It is also heavily
derived from ERC-721. Please refer to the information below about differences with ERC-721.
Differences with ERC-721
- Every token transfer/mint/burn must be tracked by event logs. This means that a transfer event must be emitted for any action related to transfer/mint/ burn.
- KIP-17 also supports the wallet interface of ERC-721 to be compliant with ERC- 721.
- More optional extensions are defined (minting extension, minting with URI extension, burning extension, and pausing extension).
Please refer to KIP-17 documents for further details.
For any additional questions, you may select ‘Inquiry Registration’ above the KAS Help Center page
where you can register your inquiry.
Thank you.
Klaytn API Service team.