The developers have presented an alternative to the ERC-404 with a low commission
The development team has released its own implementation of the ERC-404 idea called DN-404. According to the team's estimates, it is able to reduce transaction fees by 20%. Experts warned about the risks associated with the use of such tokens.
A group of blockchain developers has presented an experimental DN-404 standard aimed at eliminating the shortcomings of ERC-404. In particular, it is able to reduce transaction fees by 20%.
As the representative of the team under the pseudonym Cygaar noted, the prerequisite for the appearance of ERC-404 was the creation of a single contract that can act as an interchangeable or non-interchangeable token. However, this cannot be done without violating certain standards, he believes.
"Unlike ERC-404, our approach uses two contracts — the basic ERC-20 and the "mirror" ERC-721," Cygaar said.
Another Quit developer behind the creation of the new standard pointed out a number of critical vulnerabilities in ERC-404. According to him, the DN-404 was created using a new approach that separates the functions of the ERC-20 and ERC-721 into separate contracts. It is expected that such measures will reduce the number of problems.
Meanwhile, the specialist warned about the possible risks associated with the use of DN-404:
"I want to make it clear. Although I enjoyed creating the standard, I still consider the 404 to be more of a gimmick than a finished product. Users expressed a desire to continue using it, and we decided that it was worth making an effective and safe implementation."
Source: https://incrypted.com/razrabotchiki-predstavili-alternativu-erc-404-s-nizkoj-komissiej/
