ERC-404 Token Standard Sparks Controversy and Innovation in Ethereum Ecosystem
The experimental ERC-404 token standard, combining features of ERC-20 and ERC-721, faces scrutiny for bypassing traditional approval processes, yet gains traction with significant market interest.
- ERC-404, an experimental 'semi-fungible' token standard, aims to blend ERC-20 and ERC-721 features for Ethereum digital assets.
- The standard has not undergone official Ethereum Improvement Proposal (EIP) submission or external audit, raising concerns about its legitimacy and safety.
- Despite controversy, ERC-404 tokens like Pandora have seen rapid market adoption, with Pandora's value skyrocketing 12,000% in one week.
- Critics argue ERC-404 undermines Ethereum's development process by circumventing community consensus and proper vetting.
- Major exchanges OKX and Binance have supported ERC-404 tokens, further legitimizing the experimental standard.
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