Fungible

Fungible describes goods or assets whose individual units are interchangeable, so that any one unit can be swapped for another of the same kind without loss of value. A ten-dollar note is fungible: a lender does not care whether they get back the same note, only one of equal value. Grain of a standard grade, ounces of pure gold, company shares of the same class and most cryptocurrencies are fungible too, which makes them suitable as money and for trading on exchanges. Something is non-fungible when each unit is unique, such as a painting, a house or a non-fungible token. Fungibility in crypto can be weakened when coins with a traceable history linked to crime are refused by exchanges, a concern that has fuelled interest in privacy coins. Most tokens issued under the ERC-20 standard are fungible.