Token Standards and NFTs Flashcards
7 cards from real Blockchain Technology practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Token Standards and NFTs flashcards as text
What is the purpose of the ERC-2981 standard?
Answer: NFT royalty information
ERC-2981 provides a standard royaltyInfo interface so marketplaces can read royalty recipient and amount.
Does ERC-2981 enforce that royalties are actually paid?
Answer: No, it only signals the amount; payment is up to the marketplace
ERC-2981 merely communicates royalty data; honoring it is voluntary for the marketplace.
In ERC-721, what does safeTransferFrom add over transferFrom?
Answer: A check that contract recipients implement onERC721Received
safeTransferFrom verifies a contract recipient implements onERC721Received to avoid tokens being locked.
What does setApprovalForAll(operator, true) do in ERC-721?
Answer: Authorizes an operator to manage all of the caller's tokens
It grants an operator permission to transfer any token the caller owns in that collection.
Which approach reduces gas when minting many NFTs by tracking ownership across ID ranges?
Answer: ERC-721A batch minting
ERC-721A optimizes batch mints by deferring per-token owner writes, lowering gas for consecutive IDs.
What is 'lazy minting' in NFT systems?
Answer: Deferring on-chain mint until first purchase, with the buyer paying gas
Lazy minting records the NFT off-chain via signature and mints on-chain only when it is bought.
Why is on-chain enforcement of NFT royalties difficult on standard ERC-721 transfers?
Answer: transferFrom cannot distinguish a sale from a gift and carries no payment
A raw transfer has no price context, so the contract cannot tell whether or how much to charge royalties.