- What is the IERC Protocol, and what major services does IERC-20 provide for its users?
The IERC Protocol stands as a decentralized inscription protocol, offering a secure and cost-effective solution to its users. All transactions and data within the IERC ecosystem are securely stored on the Ethereum blockchain, ensuring a high level of security and decentralization. Nonetheless, IERC provides a more economical approach to utilizing Ethereum without compromising on the efficiency of smart contracts.
IERC-20 presently offers a spectrum of services to its users. The website, www.ierc20.com, features three primary tabs: IERC-20, Market, and PoW&DPoS.
On the IERC-20 main page, users can access a comprehensive list of inscriptions on the Ethereum platform, along with details such as the current number of holders and total supply for each inscription. Notably, inscriptions on IERC-20 can be initiated at low cost, with only a nominal gas fee required.
The Market section of our website hosts all inscriptions ever recorded on the protocol. Verified projects are adorned with golden ticks, while community-recognized projects are marked with blue ticks. The first inscription on the IERC-20 protocol, $ethi, boasts significant popularity and transaction volume.
2.What is IERC’s major competitiveness amid various inscription platforms such as brc20, avas, and xrc?
A.Led by an exceptional team, the implementation of the IERC protocol and the design of our ecosystem blueprint position us for unparalleled success. Our overarching objective is to expand our user base and attract institutional interest, a vision we are steadfastly committed to actualizing.
B.Our Layer 1.5 ecosystem exemplifies our innovative ethos and unwavering pursuit of excellence, distinguishing us from our counterparts. Continually pushing the boundaries of achievement and growth across all facets of our operations, we actively engage with the community and strive to showcase our technical prowess. Through these concerted efforts, we aim to realize our fullest potential and establish ourselves as trailblazers in the field of decentralized indexing. To this end, we seek broader audience engagement, collaboration with exceptional teams, and acknowledgment from industry stalwarts.
C.Technical Architecture: IERC stands out as one of the few projects that embraced open-source principles from its inception by hosting its project code on Github, demonstrating a fearless approach towards potential imitators. Mere replication, however, fails to encapsulate the intrinsic essence of IERC. Concurrently, IERC’s technological advancements are progressing steadily across various domains including index optimization, interface refinement, PoW and DPoS experimentation and expansion, as well as LaunchPad integration.
Exemplary Ecosystem Community: Since its launch, IERC has garnered attention from a large group of high-quality community users who have contributed numerous constructive suggestions. Moreover, IERC’s expansive ecosystem continues to attract partnerships, facilitating collaborative expansions in domains such as NFTs, liquidity optimization, LaunchPad initiatives, cross-chain bridging, and domain integration with esteemed collaborators.
3.What role does indexing play in the inscription field, and how will IERC elevate EVM ecosystem indexing to new heights?
Efficient indexing is paramount for effective data management in any ecosystem, underpinning operations such as deployment, minting, transfers, and proxy transactions. We adhere to rigorous scientific principles to ensure optimal indexing efficiency, leveraging benchmark addresses to enhance data retrieval. Our steadfast commitment to maintaining backward compatibility and eschewing unscientific patches has cemented our prominence in indexing speed within the Ethereum inscription ecosystem.
Contrary to prevailing misconceptions, inscriptions utilizing indexing need not sacrifice decentralization. It is imperative to establish protocols that do not hinge on indexer accuracy to mitigate potential monetary losses. Analogous to safeguards employed by platforms, wherein transactions are reversed in the event of erroneous pricing displays, our protocols safeguard against financial risks. The temporary unavailability of an indexer, akin to occasional Etherscan outages, does not impede the functionality of the IERC Protocol. Any such occurrences spur the emergence of competitors to fill the void.
4.How do the PoW & DPoS mechanisms introduced by the IERC Protocol impact the inscription landscape?
The inception of DPoS/PoW aimed to address the challenge of fully decentralized indexing within the IERC ecosystem, with $ethpi serving as the incentivized mining inscription. Future support for $ethpi from other platforms is anticipated.
With 10,000 holders and burning nearly 300 ETH for mining costs, DPoS&PoW has proven to be a successful endeavor thus far. Our unwavering focus on enhancing product experience and expanding capabilities within the inscription domain underscores our commitment to optimization and advancement. As pioneers in decentralized indexing, we persistently innovate and refine our indexing methodologies to foster seamless integration and development within the Ethereum ecosystem. Moreover, the future utilization of DPoS points in diverse scenarios underscores our commitment to inclusivity and incentivizing participation across various facets of inscription creation and governance.
5.How does the IERC Protocol facilitate efficient Ethereum transactions through the combination of PoW and DPoS mining schemes?
Our objective is to enhance Ethereum’s IERC-20 protocol to provide secure and cost-effective transactions for all users. Prioritizing security and affordability, we aim to mitigate the recent security concerns surrounding smart contracts and alleviate the high fees associated with decentralized exchanges.
The introduction of DPoS/PoW was devised to tackle the challenge of fully decentralized indexing within the IERC ecosystem, leveraging $ethpi as the incentivized mining inscription. We anticipate broader platform support for $ethpi in the near future. Decentralized indexing initiatives are slated for implementation during the V2 phase, underscoring our commitment to continual innovation and enhancement.
6.Can you elaborate on the ongoing $ethpi voting process and the significance of its deflation from 21 billion to 300 million?
Initially slated for a total supply of 21 billion, it has been decided to preemptively burn $ethpi tokens. Mining of $ethpi will cease permanently upon reaching a circulating supply (excluding zero-address burns) of 330 million.
This deflation process entails several facets:
I. The initial 300 million will be mined through PoW, DPoS, and DPoS point consumption rankings, with any remaining unmined tokens subsequently burned upon achieving a total supply of 300 million.
II. Additionally, 30 million $ethpi will be allocated as rewards for the decentralized distributed index. These rewards will be disbursed through the establishment of trusted nodes and distributed linearly over time. Our unwavering commitment to prioritizing decentralized indexing underscores our dedication to equitable reward distribution, facilitated by token balance-based mechanisms.
III. Notably, the ongoing $ethpi proposal at the Snapshot underscores our commitment to community engagement and democratic governance, inviting stakeholders to actively participate in decision-making processes.
Link to the voting on Snapshot:
IV. In response to Governance DAO vote outcomes and community sentiments, an adjustment reducing the total supply by 300 million has been enacted. We welcome further community input through the submission of proposals, thereby fostering a collaborative and inclusive ecosystem.
7.As DPoS and PoW approaches their anticipated conclusion after a 3-week run, what lies ahead for DPoS, PoW, DPoS points, and $ethpi within the IERC Protocol framework?
I. $ethpi, widely endorsed by the community, marks a significant milestone in inscription innovation. Operating under a deflationary model, it serves various functions including fee discounts, fee buybacks, airdrop snapshots, and LaunchPad subscriptions. We remain steadfast in our commitment to reducing its total supply over time.
II. DPoS & PoW have proven to be relatively successful experiments, boasting a holder base of 10,000 and the burning of nearly 300 ETH in mining costs. Looking ahead, we aim to refine and expand this model to enhance product experience and functionality. We aspire to foster broader participation, encompassing not only users but also creators of staking points and other stakeholders. Our overarching goal is the establishment of a decentralized index for the broader EVM inscription ecology.
III. DPoS points represent a positive initiative, with ongoing exploration into their applicability across various scenarios. Furthermore, within the future IERC inscription ecosystem, we envision the participation of diverse project organizations and individuals in the release of their own points and staking pools. This collective endeavor is poised to facilitate a more robust and vibrant Ethereum inscription ecosystem, underscoring the pivotal role of zero-address points in fostering long-term ecosystem development.
8.What lies on the horizon for the IERC Protocol roadmap? Will major inscriptions be listed on CEX, Swap, NFT, stablecoin platforms, or elsewhere?
• Creator Royalties: The IERC trading marketplace is set to introduce royalty services for creators, incentivizing valuable projects to join the inscription ecosystem.
• Cross-Chain Bridge & Stablecoin: We endeavor to enhance interoperability by connecting Ethereum with other contract ecosystems via an EVM Cross-Chain Bridge. Our collaboration with Hela and BitStore aims to ensure price stability on our platform through the integration of Stablecoin and cross-chain USDT functionalities, facilitating increased transaction volume within the IERC20 ecosystem. Furthermore, our partnership with BitStore will yield payment solutions linked to credit cards, further augmenting accessibility and usability.
• Domain (DNS) & NFT: The integration of domain names and NFTs will diversify use cases and enrich the inscription landscape, expanding opportunities for engagement and innovation.
• Plugin Wallet: Development efforts are underway to introduce an ecological plugin wallet supporting IERC20 inscription transfers and balance inquiries, empowering users and enhancing ecosystem functionality.
• IERC Explorer: The introduction of an explorer will streamline user experience by enhancing accessibility to data and records, facilitating informed decision-making and engagement.
• IERC SWAP: The impending launch of IERC SWAP, a highly scalable platform with Ethereum Foundation support, promises to augment trading activity within the IERC ecosystem, fortifying its position as a premier inscription platform.
9.How does the IERC Protocol engage with ecosystem partners and stakeholders through initiatives such as the grant program?
Our ecosystem strategy is anchored in fostering collaboration and engagement with valuable ecosystem partners. The forthcoming introduction of royalty services for creators on the IERC trading marketplace stands as a testament to our commitment to incentivizing participation and attracting high-quality projects to our ecosystem.
Furthermore, the Ambassador program has been successfully implemented, with ongoing discussions underway with prospective contributors. Interested individuals seeking to become ambassadors of IERC are encouraged to submit their applications, facilitated through direct communication with our representatives on Telegram.
In alignment with prevailing market dynamics, we aspire to broaden our collaborative efforts and forge strategic partnerships that enhance our impact and expand our reach within the inscription ecosystem.
10.Has the IERC Protocol undergone financing, and are there any plans for future financing initiatives?
The IERC protocol has yet to engage in financing endeavors such as angel investment, private placement, or public offerings. Rather, the development trajectory and strategic initiatives of the IERC team are guided by collaborative engagement with the community. Presently, discussions are underway with various institutions, including investment entities, with a view toward potential collaborations and joint efforts aimed at fostering ecosystem development through avenues such as capital infusion and resource integration. Should suitable investment opportunities materialize, IERC remains poised to explore and pursue them in alignment with its overarching objectives and vision for sustained growth and innovation.
More about IERC20
Website: www.ierc20.com
X (Twitter): https://twitter.com/EthinscXYZ
Telegram: https://t.me/IERC20OFFICIAL
Whitepaper: https://docs.ierc20.com
