Hello everyone!
This is ZELIX, introducing a new concept of metaverse and creating a multi-ecosystem.
In this guide, we will be introducing you to the decentralized multi-metaverse project ZELIX, and this is the 10th part.
In our previous installment of the Multi-Metaverse Project ZELIX Guide, we introduced DePIN(Decentralized Physical Infrastructure Networks), which allows users to easily take part in decentralized networks in the ZELIX ecosystem.
In this guide, we will introduce ERC-404(Semi-Fungible Nature) and help users grasp the ZELIX ecosystem, making it simple for users to participate in the decentralized network.
The evolution of erc404(Semi-Fungible Nature) and the ZELIX Platform
ERC-404 is an experimental token standard on the Ethereum blockchain that introduces a unique hybrid concept that combines the features of ERC-20(fungible tokens) and ERC-721(non-fungible tokens).
The Pandora Project, an ERC-404 project, was recently launched and generated significant excitement.
In simpler terms, ERC-404 divides the value of NFTs to distribute ownership similar to how tokens are divided.
ERC-404 takes a balanced approach by incorporating elements from both the ERC-20 and ERC-721 standards.
ERC-404 stands out from both the standardization of ERC-20 tokens and the individuality of ERC-721 tokens with its distinct blend.
The emergence of ERC-404 was a solution to liquidity problems in the NFT market, created by anonymous developers named “ctrl” and “Acme”.
The aim was to close the divide between fungible and non-fungible tokens by introducing a new type of digital assets known as semi-fungible tokens.
Its goal is to develop semi-fungible tokens that enable both fungibility and non-fungibility in a unified token standard.
ERC-404’s foundation lies in the Mint(creation) and Burn(destruction) mechanisms, which enable the division of ownership and transfer of non-fungible tokens (NFT).
This process breaks down NFTs into smaller, tradeable fragments, making valuable digital assets more accessible to a broader audience and increasing market liquidity.
This makes ZELIX highly important for the decentralized multi-metaverse. ZELIX utilizes the NFT Creator to incorporate NFTs from each platform into ZELIX, reorganizing them for seamless integration within the platform.
ERC-404, like the ZELIX NFT Creator, signifies an exciting advancement in blockchain technology with significant potential in the digital asset industry through innovative solutions merging the advantages of both fungible and non-fungible tokens.
We think that advancing the ZELIX Platform and ERC-404 will enhance user convenience through improved liquidity, shared ownership, and streamlined asset management.
In conclusion
Today, we simply reviewed The evolution of ERC-404 and the ZELIX Platform.
We will be back with another topic next time.
Thank you.
ZELIX Official Link
. Homepage : https://zelix.io
. Medium : https://medium.com/zelix
. Twitter : https://twitter.com/zelix_official
. Facebook : https://www.facebook.com/zelixofficialfb
. Telegram Group : https://t.me/zelixofficial
. Telegram Channel : https://t.me/zelixofficial_channel
