New Ethereum Token Standard DN-404 Launched to Combat High Fees

Developers introduce DN-404 as a more efficient alternative to ERC-404, aiming to reduce network congestion and transaction costs.

Ethereum developers have introduced a new token standard called DN-404, aimed at reducing the high network fees caused by the popularity of ERC-404 tokens.
DN-404 is designed as a hybrid of ERC-20 and ERC-721 standards, offering a more efficient structure to achieve similar objectives as ERC-404 without its drawbacks.
The introduction of ERC-404 tokens led to a significant increase in Ethereum gas fees, reaching eight-month highs and affecting transaction costs across the network.
Despite the experimental status of both DN-404 and ERC-404, they have sparked considerable interest and debate within the Ethereum community, with efforts underway to gain official recognition.
Critics of ERC-404 highlight its inefficiency and potential for exploits, while DN-404 developers aim for a safer and more efficient implementation.