Usage Analysis for the ERC-20 and ERC-721 Tokens

paul arssov
May 23, 2019 · 10 min read

by Paul Arssov (disclosure — I am developing an automated cryptocurrency trading system at arstech.biz)

1. Introduction

This is a technical article — as such represents less of a personal opinion and more of facts based on actual data at the time of the article was written (May 2019).

The ERC20 is a smart contact standard, basis for programs that are executed on the ETH and some derivative blockchains (EOS,Telos…). ERC721 is a newer version of the standard.

The article answers the following questions -

- how many ERC20 and ERC721 tokens are listed on the ETH blockchain? How many of them are the newer ERC721 type of tokens?

- how many of these ERC20/721 tokens are actually listed on centralized crypto-currency exchanges?

The Ethereum ecosystem is buzzing with activity. The impression of an ordinary person is that there are hundreds if not thousands of smart contracts and coins — new ones popping up every day.

2. How many ERC20 and ERC721 tokens are listed on the ETH blockchain? How many of them are the newer ERC721 type of tokens?

The following information was obtained by a program calling the REST API set of — blockscout.com and obtained from the Ethereum blockchain.

The initial version of the program did return a list of several hundred smart contracts and the following list of 165 symbols. Then I found a bug in the program!

Here is the initially found list of tokens -
0 sym-SNX / Synthetix Network Token ERC-20
1 sym-WETH / Wrapped Ether ERC-20
2 sym-REP / Reputation ERC-20
3 sym-OCN / OCoin ERC-20
4 sym-PLANET / 0xUniverse ERC-20
5 sym-XYO / XY Oracle ERC-20
6 sym-SNX / Synthetix Network Token ERC-20
7 sym-WETH / Wrapped Ether ERC-20
8 sym-REP / Reputation ERC-20
9 sym-OCN / OCoin ERC-20
10 sym-PLANET / 0xUniverse ERC-20
11 sym-XYO / XY Oracle ERC-20
12 sym-0x9f8f…. / 0x9f8f…. ERC-20
13 sym-NKC / NeworkCoin ERC-20
14 sym-REN / Republic Token ERC-20
15 sym-MANA / Decentraland MANA ERC-20
16 sym-EDN / Eden Coin ERC-20
17 sym-KBC / KaratBank Coin ERC-20
18 sym-BQTX / BqtX Token ERC-20
19 sym-MLBCB / LucidSight-MLB-NFT ERC-721
20 sym-ANET / ANET ERC-20
21 sym-CK / CryptoKitties ERC-721
22 sym-OLT / Oneledger Token ERC-20
23 sym-GEM / Gems Token ERC-20
24 sym-GCC / GameCell ERC-20
25 sym-NEXO / Nexo ERC-20
26 sym-GST2 / Gastoken.io ERC-20
27 sym-CTN / Crypton ERC-721
28 sym-P3D / PowH3D ERC-20
29 sym-PKG / PKG Token ERC-20
30 sym-nCash / NucleusVision ERC-20
31 sym-Ù¨ / Dentacoin ERC-20
32 sym-OMG / OMGToken ERC-20
33 sym-MB / MonsterBit ERC-721
34 sym-MTC / Medical Token Currency ERC-20
35 sym-RBLX / Rublix ERC-20
36 sym-TFD / TE-FOOD ERC-20
37 sym-CASH / Cash ERC-20
38 sym-WPR / WePower Token ERC-20
39 sym-LAND / Decentraland LAND ERC-721
40 sym-EVN / Envion ERC-20
41 sym-JEIG / JeiCoin Gold ERC-20
42 sym-DTA / Data Token ERC-20
43 sym-RGS / Rusgas ERC-20
44 sym-TOL / Tolar Token ERC-20
45 sym-MAN / MATRIX AI Network ERC-20
46 sym-CBF / Chibi Fighters ERC-20
47 sym-SUPR / SupeRare ERC-20
48 sym-BEAT / BEAT ERC-20
49 sym-EMONT / EtheremonToken ERC-20
50 sym-EMPR / empowr ERC-20
51 sym-CP / CryptoPony ERC-721
52 sym-KEY / SelfKey ERC-20
53 sym-0x86fa0… / 0x86fa0… ERC-20
54 sym-MXM / Maximine Coin ERC-20
55 sym-ATL / ATLANT Token ERC-20
56 sym-ETHBOT / Etherbots ERC-721
57 sym-C8 / Carboneum ERC-20
58 sym-BCPT / BLOCKMASON CREDIT PROTOCOL TOKEN ERC-20
59 sym-FISH / Fishbank ERC-721
60 sym-BUNNY / BunnyToken ERC-20
61 sym-BWT / Bittwatt ERC-20
62 sym-ARB / ARBITRAGE ERC-20
63 sym-SCC / SiaCashCoin ERC-20
64 sym-LMM / Link Managenent Chain Token ERC-20
65 sym-BTCG / BitcoinGalaxy ERC-20
66 sym-TREK / TrekChain ERC-20
67 sym-SINOC / Sinoc ERC-20
68 sym-EOP / EOSpace ERC-20
69 sym-CET / Dicet ERC-20
70 sym-ETIT / ETH.TOWN Token ERC-20
71 sym-GAT / GAT Token ERC-20
72 sym-DOG / DOG: The Anti-Scam Reward Token ERC-20
73 sym-DATP / Decentralized Asset Trading Platform ERC-20
74 sym-WAB / WABnetwork ERC-20
75 sym-WNK / Woonk ERC-20
76 sym-EX / EXtereum ERC-20
77 sym-BXT / BITFXT COIN ERC-20
78 sym-ETC7 / Ethereum Legend Coin ERC-20
79 sym-HYDRO / Hydro ERC-20
80 sym-LPK / Kripton ERC-20
81 sym-CMT / Crypto Miner Token ERC-20
82 sym-ZTH / Zethr ERC-20
83 sym-BDT / BitDATA Token ERC-20
84 sym-PDATA / PDATA ERC-20
85 sym-O2O / O2O ERC-20
86 sym-OPEX / Optherium ERC-20
87 sym-XBD / Bit Dinero ERC-20
88 sym-EON / EOS Network ERC-20
89 sym-QZT / QZ Token ERC-20
90 sym-PRCLS / PRICELESS ERC-20
91 sym-BCT / BCT Token ERC-20
92 sym-PYT / Payther Token ERC-20
93 sym-BMAX / BitcoinMax ERC-20
94 sym-DW1STR / Dark Winds First Edition Cards (Revisited) ERC-20
95 sym-CPR / Casper ERC-20
96 sym-TBE / TowerBee ERC-20
97 sym-YEED / YGGDRASH ERC-20
98 sym-TUP / turepay ERC-20
99 sym-ZTHG / ZethrGame ERC-20
100 sym-GEX / GREENX ERC-20
101 sym-NN / Neodium Network ERC-20
102 sym-MORPH / MORPH ERC-20
103 sym-GVINE / GVINE ERC-20
104 sym-IOG / IOGENESIS ERC-20
105 sym-POC / ProofOfCommunity ERC-20
106 sym-RST / REGA Risk Sharing Token ERC-20
107 sym-CCN / CryptoCurrencyNetwork ERC-20
108 sym-XMT / Marijuana ERC-20
109 sym-BABC / Business Alliance Business Coin ERC-20
110 sym-ONTOP / On Top Coin ERC-20
111 sym-NOE / NoteOfExchange ERC-20
112 sym-EML / e-Mal Token ERC-20
113 sym-OGO / OGO Coin ERC-20
114 sym-ETA / ETA ERC-20
115 sym-ZUR-D / Zur Drafts by Zurcoin Core ERC-20
116 sym-0x2c2391f… / 0x2c2391… ERC-20
117 sym-DMX / Dreamex Token ERC-20
118 sym-JEANS / Jeans Token ERC-20
119 sym-CLM / Caelum Token ERC-20
120 sym-MGC / Magic ERC-20
121 sym-ProductionUnit / Production Unit | Moon, Inc. ERC-20
122 sym-UBN / Ubricoin ERC-20
123 sym-PWM / POWM ERC-20
124 sym-CM / CM ERC-20
125 sym-POCG / CraigsABitch ERC-20
126 sym-BIT / 8thereum ERC-20
127 sym-DDT / DailyDivs ERC-20
128 sym-STEEM / Steem ERC-20
129 sym-RMB / LIYAN ERC-20
130 sym-SB / 赏币 ERC-20
131 sym-0xbb991… / 0xbb991… ERC-20
132 sym-ETD / Ethereum Diamond ERC-20
133 sym-TKBC / Token Bit Coin ERC-20
134 sym-UFT / Unoflix ERC-20
135 sym-SST / SocialStake ERC-20
136 sym-J20 / JIL Coin ERC-20
137 sym-GBT / GitBit Token ERC-20
138 sym-AL / ALpay ERC-20
139 sym-LUKE / LUKE ERC-20
140 sym-0xa6ff73… / 0xa6ff73743… ERC-20
141 sym-SCALE / SCALE ERC-20
142 sym-Snow / Snow ERC-20
143 sym-WE.R.LIVE / Polymath Test Token ERC-20
144 sym-WTOA / WeTrust Token of Appreciation ERC-721
145 sym-FUNDS / FUNDS ERC-20
146 sym-YMOM / Your MOM ERC-20
147 sym-SYTZ / 三元通证 ERC-20
148 sym-BATCoin / BATCoin Token ERC-20
149 sym-EIX / DeniX ERC-20
150 sym-GLASS / sharespost ERC-20
151 sym-LINKURL / UrlLinkCoin ERC-20
152 sym-XRH / xurihong ERC-20
153 sym-TT / Tiger Token ERC-20
154 sym-BC12 / Bavli Coin ERC-20
155 sym-IDOL / IDOLCOIN ERC-20
156 sym-DRGN / Dragon ERC-20
157 sym-BAX / BAX ERC-20
158 sym-0xBTC / 0xBitcoin Token ERC-20
159 sym-ESS / ESSENTIA ERC-20
160 sym-ABC / ABC — Anti Bureaucracy Coin ERC-20
161 sym-EVO / Evolution ERC-20
162 sym-FSBT / Forty Seven Bank Token ERC-20
163 sym-MNZ / Monetize Coin ERC-20
164 sym-UBEX / UBEX Token ERC-20
165 sym-HOT / HoloToken ERC-20

After running again of the program, with the fix of the bug, I have got a list with a little more than 110,000 smart contracts. It took several days of the program running to actually get how many tokens represent these 110k smart contracts.

Some of the tokens/smart contracts do not put symbol and name, and are listed as — 0x….. Maybe they represent the development stage of an old or a upcoming new token.

Out of the 110k smart contacts the program did find about 7150 tokens. Some of the names of the tokens in the list match popular crypto coins — BTC,LTC,BCH,DOGE… For ex. for XRP(Ripple) I did find these tokens -

…3050 XRPC — Ripplecash / ERC-20
…3420 XRPE — Ripple EOS / ERC-20
…3897 XRPB — RIPPLE BLACK / ERC-20
..5735 IXRP — iRipple / ERC-20
…7102 XRP — Ripple / ERC-20

This is pretty deceptive ! A user buying one of these tokens residing on the Ethereum blockchain may think it relates somehow to Ripple and its chain when most likely there is no relation at all.

What is also surprising for me is the tiny number of new ERC721 tokens. It seems like only the most successful tokens in the ETH ecosystem like — CK (Crypto Kitties) and few others are based on ERC721 standard.

3. How many of the ETH blockchain ERC20/721 tokens are actually listed on centralized cryptocurrency exchanges?

The information to answer the question was obtained by a program browsing the data from our automatic cryptocurrency trading system at arstech.biz .

The system collects information from 36+ major centralized crypto-exchanges located worldwide, non-stop 24/7/365 .

A centralized crypto exchage is a more or less regulated business which operates and has to comply with laws in the country of registration. Such exchange normally has the capability to exchange crypto-coins to/from fiat (USD,EUR,JPY,KRW…) currency.

In contrast, there are few smart contracts on the ETH blockchain with capabilities of a de-centralized crypto-exchange. They allow exchange between any ERC20/721 tokens on the same ETH blockchain.

Here is the list of ERCxxx tokens which are actually listed on centralized crypto-exchanges, taken from the above list of 165 tokens, followed by exchanges and symbols -

0 SNX — kucoin- SNX-ETH,
1 REP — hitbtc- REPETH, bitfinex- REPETH, bithumb- REP, binance- REPETH, coinone- rep, simex- REP_ETH,
2 OCN — hitbtc- OCNETH, bithumb- OCN, kucoin- OCN-ETH, huobi- ocneth, lbkex- ocn_eth,

3 XYO — kucoin- XYO-ETH,
4 HOT — bitfinex- HOTETH, quoine- HOTETH, kucoin- HOT-ETH, binance- HOTETH, huobi- hoteth,
5 UBEX — bitforex- eth-ubex,
6 REN — huobi- reneth,
7 MANA — hitbtc- MANAETH, kucoin- MANA-ETH, binance- MANAETH, bibox- MANA, huobi- manaeth, okex- mana_eth,
8 EDN — kucoin- EDN-ETH,
9 KBC — hitbtc- KBCETH, digifinex- eth_kbc, bitforex- eth-kbc,
10 OLT — kucoin- OLT-ETH, bitforex- eth-olt,
11 NEXO — hitbtc- NEXOETH, huobi- nexoeth,
12 OMG — hitbtc- OMGETH, bitfinex- OMGETH, exmo- OMG_ETH, digifinex- eth_omg, bithumb- OMG, kucoin- OMG-ETH, binance- OMGETH, coinone- omg, huobi- omgeth, simex- OMG_ETH, okex- omg_eth,
13 MTC — kucoin- MTC-ETH, bibox- MTC, lbkex- mtc_eth, dobitrade- mtc_eth,

14 RBLX — quoine- RBLXETH,
15 TFD — kucoin- TFD-ETH,
16 WPR — bitfinex- WPRETH, binance- WPRETH, huobi- wpreth,
17 DTA — bitfinex- DTAETH, huobi- dtaeth, coinbene- DTAETH,
18 TOL — hitbtc- TOLLETH, dobitrade- tol_eth,
19 MAN — bitfinex- MANETH, lbkex- man_eth,
20 BEAT — bitforex- eth-beat,
21 KEY — kucoin- KEY-ETH, binance- KEYETH, bibox- KEY,
22 MXM — coinbene- MXMETH, bitforex- eth-mxm,
23 BCPT — hitbtc- BCPTETH, binance- BCPTETH, idcm- BCPT/ETH,
24 FISH — bcex- IFISH,
25 GAT — quoine- GATETH, bcex- GAT,
26 WAB — binance- WABIETH,
27 HYDRO — bitforex- eth-hydro,
28 CMT — digifinex- eth_cmt, bithumb- CMT, binance- CMTETH, bibox- CMT, huobi- cmteth, coinbene- CMTETH, idcm- CMT/ETH, okex- cmt_eth,
29 GEX — idcm- GEX/ETH,
30 MORPH — hitbtc- MORPHETH,
31 MGC — idcm- MGC/ETH,
32 BIT — hitbtc- BITETH,
33 STEEM — bithumb- STEEM, binance- STEEMETH, huobi- steemeth,
34 GBT — bitforex- eth-gbt,
35 DRGN — kucoin- DRGN-ETH,
36 BAX — kucoin- BAX-ETH,
37 ESS — bitfinex- ESSETH,

As the list show the majority of the listed ERCxxx tokens are listed on a single exchange.

A small group of tokens are listed on more than 3 crypto-exchanges — as highlighted. However further analysis is need to find the spread and trade volume.

High spread — difference between buy and sell price discourages initial purchase and then trading of a crypto-coin. Low (or absent) 24hours trading volume shows low popularity and interest in trading in the specific crypto-coin.

Still, all the coins on the list show the courage to break from the Ethereum blockchain bubble and become trade-able on public crypto-markets.

4. Conclusion

As I pointed in the beginning, the article contains less of opinions and more of facts. The 2 lists can be used as a reference in trading of a specific crypto-coin and/or in investing in the business which issued the specific crypto-coin.

Cryptocurrencies are the type of a ‘disruptive innovation’ as defined by professor in business Clayton Christensen.

We are witnessing creation of a new market which is disrupting the financial markets and which has the potential to ‘eat the lunch’ of the traditional stock market.

Topics for upcoming articles -
- What is the price, the spread, and the volume of each of the listed ERC20/721 tokens on centralized cryptocurrency exchanges?
- Analyzing the source code and the functions of successful ERC20/721 tokens on the Ethereum blockchain

HackerNoon.com

how hackers start their afternoons.

paul arssov

Written by

Developing automated crypto-trading system — t.me/crypto_Questions , twitter.com/arstech_biz

HackerNoon.com

how hackers start their afternoons.

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