Difference between ERC20, ERC223, ERC721 and ERC948?

Question

I am new to Solidity. I got lots of type of solidity but I am not able to get what actually difference in all type of ERCs. Can anyone please explain the differences and similarities to me.

Answer 1

ERC20 is the token standard that most people today know and love. This standard defines basic token needs such as _totalSupply, transfer(), approve(), and transferFrom(). You must define a token's name, symbol and decimals. It also defines a balances mapping that keeps track of every user's holdings, among other things.

ERC223 is an extension of ERC20 that prevents the accidental transfer of tokens to the token contract itself (as opposed to another user). When an ERC20 transfer is initiated, what actually happens is an interaction with the token contract, which triggers a change in balances. Because of this, people get confused and accidentally send tokens to a token contract, effectively burning them forever. The implementation of this is simple: extend the ERC20 interface and add an additional transfer() function with an additional parameter (as to avoid an overwrite of the ERC20 transfer()). If this transfer() function is used, the transaction will fail if tokens are sent to the token contract.

ERC721 is different from the aforementioned EIPs in that it is a new type of token. This is a non-fungible token, meaning that each token has a unique ID. This allows people to tokenize unique assets, such as real estate or cryptokitties. By allowing unique, individual tokens to be created, users can now track these just as they would a traditional asset in the real world.

ERC948 is a proposal for subscription-based payments on Ethereum. The idea is that many people are paid on a subscription based service, and this ERC suggests a way to implement this in Ethereum using either Ether or tokens.