[After ERC-404 caused network fees to soar, Ethereum developers created “DN-404” tokens]
Since early February, a craze over ERC-404 tokens has caused transaction fees on the Ethereum network to surge to an eight-month high, with transaction volume reaching millions of dollars. In response, the developers of DN-404 proposed a new solution that reduces fees through two contracts, aiming to achieve similar goals to ERC-404 but with fewer problems. Both contracts are experimental in nature.
In order to solve the network congestion and high fee problems caused by ERC-404, Ethereum application developers launched a new token contract DN-404, namely "Divisible NFT-404", based on the ERC-20 and ERC-721 standards , designed to provide full compatibility. Although DN-404 and ERC-404 are not officially recognized by the Ethereum Foundation, they can still be used on the network.
The explosive popularity of ERC-404 has attracted the attention of the Ethereum community and prompted active research on improvement proposals (EIPs) to seek formal recognition. Developers call on the community to review and contribute ideas, hoping to reach consensus and find effective standards through transparent, open, and collaborative efforts. Additionally, consider establishing a foundation to drive further development and adoption of the standard and support an ecosystem of builders that rapidly takes advantage of this new technology.
