Algorand ARC-19 and ARC-69. What exaclty is the difference?

Question

I have been studying the Algorand ARC-19 and ARC-69 to see which one will better suit my use case. But I am finding it hard to understand them properly.

Can you help me better understand by providing sequence diagram for the data flow and operations that occur with creating an ASA in ARC-69?

Answer 1

To give a bit of context:

• For a given ASA, the URL field is immutable
• The Reserve Address is mutable (If it has not been set to the Zero Address & the Manager Address exists)

By using a template, template-ipfs://{ipfscid:1:raw:reserve:sha2-256} ARC-19 allows client to read/display URL based on the value of the Reserve Address. (An IPFS hash can be obtained from the Reserve Address.)

ARC-69 is a community-based convention used for Digital Media.

• The URL field of the Asset points to a Media file (png, jpeg ...)
• The metadata associated with the Asset is stored inside the Note Field, which is accessible during the creation/config of the Asset. (If the Manager Address exist)
• Metadata Size is restricted (The Note Field can only contain 1024 Bytes)
• Metadata is stored ON-CHAIN and can be read only by querying an indexer (see Archival Node)
• As long as the Manager Address is set, Metadata is mutable.

ARC-3 is a general Fungible/Non-Fungible Token convention.

• The URL field of the Asset points to an OFF-CHAIN IPFS file containing the Metadata (JSON based on ERC-1155)
• This JSON file can have multiple fields and is not restricted in size.
• Metadata is stored OFF-CHAIN, so it can be read by querying the value inside the URL Field of the Asset from a non-Archival Node. (Which is way more convenient than using an Indexer)

To have mutability with OFF-CHAIN Data (which is encouraged & matches every case), ARC-19 can be combined with ARC-3.

1. The Url Field MUST be equal to template-ipfs://{ipfscid:1:raw:reserve:sha2-256}#arc3
2. Reserve Address MUST be set
3. Manager Address MUST be set

If you have more questions about ARC or Algorand in general, I encourage you to join the Discord and the Forum.