The post What is ERC 404? Is It Worth Investing In? appeared on BitcoinEthereumNews.com.

So, what is this new hype about? A new token standard in the market, ERC-404, is launched in February 2024! With interoperability, better operations, and improved use cases, this new standard is all set to rule the crypto space. A few developers recently sparked the Ethereum space with this new token standard.  But what exactly is ERC-404? The Ethereum network has two prominent token standards, namely ERC-20 and ERC-721. Named after the popular website error code, ERC-404 is an unofficial Ethereum standard built by the Pandora team. It combines the usability of fungible tokens with non-fungible tokens to make a semi-fungible token.  Pandora, the first token built on the ERC 404 token standard, has a market capitalization of $176,321,562. With a 24-hour trading volume of $24,535,317 and an average price of $17,485.16, it draws much interest from investors and traders alike. However, it is worth noting that the token’s price has experienced considerable volatility post-debut. On February 9, Pandora’s market cap peaked, with its total value exceeding the $300 million threshold and a trading volume of $71,542,503. In this report by Coinpedia, we have compiled all the information related to ERC 404. Let’s delve into it as the basics of ERC 404 unfold step-by-step! Introduction As mentioned earlier, the Ethereum network has two significant token standards, ERC-20 and ERC-721. ERC-20 token standard is for fungible tokens, which function like digital cash. ERC-721 token standard is for the non-fungible tokens or NFTs. These two standards have operated in isolation, solving two different purposes. However, a group of developers decided to work on this system and change it! Recently, they have introduced a new standard! It still fits in the category of unofficial and experimental since the authenticity test is yet not cleared by ERC-404. ERC-404 is named after the popular website…

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Filed under: News - @ February 18, 2024 3:24 am