There is new news in the blockchain industry! 🎉SlowMist founder Yu Xian recently posted on the X platform, sharing some of his views on the ERC404 code. He believes that the 404 in the ERC404 code implies some connection. 🤔

Cosine For example, suppose this is a coin with FT on the front and NFT on the back. When trading FT, the rarity of the other side of the coin (NFT) is given out indiscriminately. Moreover, if the number of FT is slightly less than an integer, an NFT will also be burned. 😱

In addition, one more thing that disappears is gas. In order to avoid frequent NFT transactions, ERC404 has also developed a whitelist mechanism, so that some pairs/routers only need to handle FT transactions. 👍

However, new mechanisms may also introduce new security risks. If a protocol fails to handle the double-sided mechanism of a coin like ERC404, it may have unexpected consequences. 🚧At the same time, ERC404 is not yet a mature standard, and the contract codes of some projects will be modified to some extent, which is also a possible risk. 🔍

Let us pay attention to the development of the blockchain industry and look forward to the bright future of Bitcoin! 🚀