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· 3 min read
Luca Auet
Gabriel Gonzalez

PSP22

File: psp22.rs

Functionalities:

  • Metadata: Provides extra information about the token, such as its name and symbol.
  • Mintable: Gives the capability to create new tokens, which increases the total supply.
  • Burnable: Provides the ability to destroy tokens. This action reduces the total supply of the tokens in circulation.
  • Wrapper: This is a wrapper to create a token that is backed by another equivalent token. It comes with methods to deposit and withdraw the underlying token.
  • FlashMint: Allows for a flash loan on the token. In this process, the borrowed amount is minted and then burned after the loan is repaid, all within a single transaction.
  • Pausable: Provides the ability to pause all token transfers. This can be useful in emergency situations or for maintenance.
  • Capped: Allows setting a limit to the total supply when minting tokens. This ensures that the total number of tokens in circulation never exceeds a predefined amount.

PSP34

File: psp34.rs

Functionalities:

  • Metadata: Provides extra information about the token, such as its name and symbol. This helps in identifying and describing the NFT.
  • Mintable: Gives the capability to create new tokens. Since these are NFTs, each minted token is distinct and unique.
  • Burnable: Allows NFT holders to destroy their NFTs. This means removing the NFT from circulation permanently.
  • Enumerable: Assigns a unique number to each NFT. This can be useful for tracking and listing NFTs in order.

PSP37

File: psp37.rs

Functionalities:

  • Batch: Allows you to transfer multiple tokens in a single operation. This can be efficient when you need to distribute tokens to multiple recipients at once.
  • Metadata: Provides extra information about the token, such as its name and symbol. This helps in identifying and describing the token.
  • Mintable: Gives the capability to create new tokens, which increases the total supply. Since this is a multi-token standard, you can mint multiple types of tokens under one contract.
  • Burnable: Provides the ability to destroy tokens. This action reduces the total supply of the tokens in circulation.
  • Enumerable: Assigns a unique number to each token. This can be useful for tracking and listing tokens in order.

Security:

All the 2 standards also have the security options:

  • None: No specific security mechanism is applied. All functions are public.
  • Ownable: The contract has an owner, which is a single account. This account is authorized to perform all privileged actions.
  • Access Control: This allows the implementation of role-based access control mechanisms. Different roles can be defined, and each role can be given specific permissions.
  • Access Control Enumerable: This is an extension of the Access Control mechanism. It allows the implementation of role-based access control mechanisms where each role has a unique identifier. This can be useful for tracking and managing roles in a more granular manner.

· 2 min read
Luca Auet
Gabriel Gonzalez

The Polkadot ecosystem is vast and ever-evolving, and to ensure its sustainable growth and interoperability, the introduction of standards becomes imperative. This is where Polkadot Standards Proposals (PSP) come into play. PSPs are a series of standards and protocols proposed for the Polkadot ecosystem to ensure a harmonized approach to development and integration.

What are PSPs?

Polkadot Standards Proposals (PSPs) are technical specifications and standards proposed for the Polkadot ecosystem. They are similar to Ethereum's ERCs (Ethereum Request for Comments) and serve as a blueprint for building interoperable and standardized applications, platforms, and tools within the Polkadot network.

The Importance of Standards

Standards play a crucial role in ensuring consistency, interoperability, and compatibility across different platforms and applications. By adhering to a set of predefined standards:

Interoperability: Different applications and platforms can seamlessly interact with each other without any friction. Consistency: Developers have a clear guideline to follow, ensuring uniformity in the applications they build. Efficiency: Standards eliminate the need to reinvent the wheel, allowing developers to build upon existing protocols and specifications. Trust: Users can have confidence in platforms and applications that adhere to recognized standards.

A Closer Look at Specific PSPs

  • PSP-22: This standard is akin to Ethereum's ERC-20, which is a standard for fungible tokens. PSP-22 provides a set of standard APIs for tokens within the Polkadot ecosystem. It defines methods to transfer tokens, retrieve balances of addresses, and other token-related functionalities.

  • PSP-34: PSP-34 is a standard for non-fungible tokens (NFTs) within the Polkadot ecosystem. Similar to Ethereum's ERC-721, it provides a standard interface for NFTs, allowing for the creation, transfer, and querying of NFTs.

  • PSP-37: This standard introduces a multi-token standard for the Polkadot ecosystem. It allows for the creation of multiple tokens with a single contract. This is particularly useful for platforms that require the issuance of multiple tokens with varying functionalities.