Coinranking
| # | Coins | Price | 24h | ||
|---|---|---|---|---|---|
| | |||||
| | 1 |  | $ | -10.29%  | |
| | 2 |  | $ | -2.91%  | |
| | 3 |  | $ | -17.39%  | |
| | 4 |  | $ | --%  | |
Top gainers
| Coins | Price | 24h | |||
|---|---|---|---|---|---|
| | | $ | -2.91% | ||
| | | $ | -10.29% | ||
| | | $ | -17.39% | ||
| | | $ | --% | ||
| All gainers | |||||
What is DN-404 tokens?
DN404, also known as "Divisible NFT 404," is a revolutionary advancement in the world of non-fungible tokens (NFTs), aimed at enhancing accessibility and efficiency in digital asset ownership and trading.
It challenges the current standard, ERC-404, by seamlessly integrating the functionalities of ERC-20 and ERC-721 tokens. This innovative approach allows for fractional ownership of NFTs, enabling individuals to own and trade portions of unique digital assets.
Spearheaded by a pseudonymous developer known as cygaar, DN404 is positioned to democratize the NFT market and streamline transactions within the blockchain ecosystem.
How does DN-404 work?
DN404 operates by integrating two existing Ethereum token standards, ERC-20 and ERC-721, to enable fractional ownership of NFTs. Instead of one contract handling everything, DN404 uses two separate contracts: one for regular tokens and another for NFTs.
This segregation helps reduce transaction fees and facilitates direct trading of NFT fractions without intermediaries. Users can seamlessly swap portions of their NFTs on decentralized exchanges like Uniswap, enhancing liquidity and accessibility within the NFT market.
Despite being in its experimental phase and lacking formal auditing, DN404 aims to address the limitations of existing standards and revolutionize the way digital assets are owned and traded on the blockchain.
DN-404 vs. ERC-404: What's the difference?
While both DN404 and ERC-404 strive to combine fungible and non-fungible tokens, they diverge in their implementation strategies. ERC-404 relies on a single contract for all functionalities, potentially leading to complications and higher fees.
In contrast, DN404's dual-contract system aims to streamline operations and minimize costs, offering a more efficient alternative for NFT transactions. The decision to use two separate contracts in DN404 reduces the impact on Ethereum transaction fees by approximately 20% compared to ERC-404, making it a more cost-effective solution for users seeking to engage in fractional NFT ownership.
Furthermore, the modular nature of DN404's design allows for easier maintenance and upgrades, ensuring scalability and adaptability in response to evolving market demands.
Final thoughts on DN-404
DN404 represents a significant step forward in the evolution of NFT standards, promising greater accessibility and liquidity for digital asset enthusiasts. While still in its experimental phase, DN404 holds the potential to transform the NFT landscape by making ownership and trading more inclusive and cost-effective.
As the crypto community continues to explore innovative solutions, DN404 stands poised to redefine the way we interact with digital assets on the blockchain. With ongoing development efforts and potential formal recognition through Ethereum Improvement Proposals (EIPs), DN404 is positioned to play a pivotal role in shaping the future of decentralized finance and digital ownership.
Investors and developers alike are encouraged to monitor DN404's progress and consider its implications for the broader blockchain ecosystem.