The difference between ERC-20, ERC-721, ERC-777 and ERC-1155

ERC or ‘Ethereum Request for Comment’ standards for supporting various types of smart contracts, including ERC-20, ERC-721, ERC-777, and ERC-1155.

ERC-20 is the most widespread, and is the standard interface for fungible tokens on the Ethereum blockchain, including virtual currencies, staking tokens, and voting tokens.

ERC-721 provides functionalities for tracking unique digital assets, like deeds for artwork or songs, and demonstrating individual ownership over them.

ERC-777 is introduces advanced functionalities on top of tokens, such as mixer contracts for improved transaction privacy, emergency recovery function (if you lose your private keys), and backward compatibility with ERC-20.

ERC-1155 focuses on managing collections of fungible and non-fungible crypto assets in a single contract, allowing simultaneous transfers of multiple token variants; thus, facilitating more efficient trades and saving costs.