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This literature review uncovers strategies for enhancing digital asset growth using ERC-404 tokens, indicating their potential in blockchain ecosystems.
AbstractThis paper explores the development of ERC-404 tokens within the Ethereum blockchain ecosystem and investigates strategies for enhancing digital asset growth. The paper finds effective methods for developing ERC-404 tokens and examines their effects on digital asset management through a thorough literature review and data analysis. For blockchain developers, investors, and enthusiasts looking to use ERC-404 tokens for long-term growth in the digital asset market, the findings offer insightful information.In the digital age, blockchain technology and cryptocurrencies have completely changed how we see and exchange value. Ethereum has become a prominent platform for token production and decentralised apps (DApps) among the many blockchain-based assets. Token interfaces and protocols within the Ethereum ecosystem are defined by ERC standards, which were created by Ethereum Improvement Proposals (EIPs). For example, ERC-20 tokens have become widely used due to their interoperability and fungibility. However, as the blockchain industry's requirements change, there is a growing need for specialised token standards suited to particular use cases. This paper focuses on ERC-404 tokens, a proposed standard designed to address the limitations of existing token standards and facilitate innovative digital asset management solutions.
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Bhatnagar et al. (2024) studied this question.
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