Today, the first token of ERC20 protocol, eths, rose straight. The website is down now. The last transaction price before the downtime was 368u. Today, due to the entry of monkey bosses to sweep the market, the market fomo has been driven. The current attention is still rising. The possibility of listing on first-tier exchanges in the future is increasing. Ethereum's infrastructure is far better than Bitcoin's, with lower transaction costs, enough users, and convenient use. It may develop faster than Bitcoin inscriptions. Chuan Shao, an early evangelist of oedi, tweeted today to compare the growth flywheel of eths with ordi. We have reason to believe that this experiment will succeed. The bottom-up reform is completely driven by the community. The future market development potential is huge. Vitalik is very concerned about the development of Bitcoin inscriptions. It is only a matter of time before he pays attention to and helps ether inscriptions.

ERC-20

ERC-20 is a completely community-driven experimental standard. Participate in the experiment at your own risk.

There are multiple erc-20 tokens appearing in Ethscriptions, such as $eths, $gwei, and $ercs, but no one has defined the erc-20 token standard in Ethscriptions. Instead, different people have deployed and minted these tokens, and others have written indexers for erc-20 tokens. So far, the commonly used community indexers for erc-20 tokens are consistent and work fine. Therefore, this document was written to simply describe the community-driven experimental erc-20 token standard in Ethscriptions.

Ethics Introduction

Ethscriptions is a new way to create and share digital artifacts on Ethereum using transaction call data.

Overview Ethscriptions are similar to NFTs, but 40 times cheaper. Ethscriptions are cheaper because they use Ethereum transactions to call data instead of smart contracts to store data on-chain.

FAQ

Is Ethscriptions secure and trustless?

Absolutely! You can use the Ethscriptions protocol without relying on external parties. While it may be convenient to trust an Indexer, as most Ethereum community members do with Etherscan, you can always rebuild and verify the Indexer data manually.

Is Ethscriptions decentralized?

Yes, Ethscriptions reinterprets existing Ethereum data, which is inherently decentralized. You don't need anyone's permission to use Ethscriptions, and no one can prohibit you from using it. In contrast, NFTs usually rely on data stored in a specific contract that one person can control.

Does relying on an off-chain indexer as the source of truth make Ethscriptions centralized?

Ethscriptions does not rely on off-chain indexers as a source of truth, just as Ethereum does not rely on Etherscan as a source of truth. Both types of indexers are tools, and if the data they report is inconsistent with the protocol rules, they should be fixed. The key to decentralization is that all protocol participants can discover and verify such errors equally.

Who invented ethics?

The first specification was created in 2016, but the official protocol was developed by Tom Lehman aka Middlemarch. In addition to the Bitcoin inscription, he was also inspired by the famous “proto-Ethscription” from the Poly Network hackers, which you can see in this transaction.

Participating in ERC20 protocol

At present, the ERC20 trading token website has been launched and can be purchased freely. At present, the entire market has just started, and there are unlimited possibilities in the future. At least we can see the appearance of Ordi. After the launch of the platform, Ordi rose rapidly and rushed directly to around $10, then quickly pulled back to around $4, and then the gate was launched to $30. Will Eths also achieve all this in a short time? At present, tokens, domain names, NFTs and other content have been launched, and layer2 will also be launched in the future. I am very optimistic about this track. On the Ethereum train, it is easy to take off. There are enough users and funds. The only thing we can do is to hold the chips in our hands and don’t sell them. Chuan Shao also said that the market value of Eths may exceed the market value of ARB+OP+ENS+Punk..... in the future.

There is every reason to believe that because of the decentralized change, we are joining in. The more decentralized it is, the better it is for us. In this way, what belongs to us will truly belong to us, and there will be no running away. The project party is quitting, and the azuki project party has issued a large number of homogeneous NFTs, causing the community to split and prices to plummet. The project party took away 20,000 e issued by the market. This is an incident we personally experienced some time ago.