每一次Web3协议标准的革新，不仅是技术的跃进，更是推动整个数字经济新模式和新资产形态诞生的催化剂。标准的创新，特别是在资产的代表性、互操作性以及用户互动方式上的改进，为开发者提供了构建更加复杂、响应性更强和用户友好型应用的机会。随着区块链技术的发展，我们见证了从单一功能代币到多功能智能合约平台的演变，每一步都伴随着新的协议标准的推出和旧标准的改进。

本篇Bing Ventures研究文章介绍了半同质代币领域的新标准（如ERC-404、TinySPL、和Asteroids）和相关代表项目，并对这些标准进行了一定的评估。

我们认为半同质代币的创新应该考虑四个方向的关键问题，在具体评估中还应当考虑它们在实际应用中的表现和市场的接受度。

1. Enhanced Asset Interoperability: The ability for assets to flow freely and interchangeably in multi-chain and cross-chain environments is a significant direction for the development of blockchain technology. New protocol standards should support seamless asset transfers and smart contract interoperability across different blockchain platforms.
2. Binding Assets to Identity: With the proliferation of digital identities, combining user identity with asset ownership to provide more secure and personalized services will become a focal point for innovation. This not only enhances security but may also open up new models for identity-based customized services and permission management.
3. Scalability and Cost Efficiency: As blockchain applications expand, protocols must be optimized to support higher transaction volumes and lower transaction costs. For example, through layer solutions or state channel technologies, the load on the main chain can be reduced, improving the overall efficiency and responsiveness of the system.
4. Simplified User Experience: Simplifying user interactions with blockchain technology allows non-technical users to easily participate in the blockchain ecosystem. This includes improving wallet interfaces, transaction processes, and asset management tools to make them more intuitive and user-friendly.

By driving innovation in these key areas, semi-fungible tokens will be able to optimize the performance of existing technologies and platforms, as well as open up new application scenarios and market opportunities, ultimately promoting the health and sustainable development of the entire blockchain industry.

ERC-404 Token Overview

First, the ERC-404 token introduces the concept of semi-fungibility. Semi-fungible tokens are a bold attempt to find a middle ground between fully interchangeable (like ERC-20 tokens) and unique (like ERC-721 tokens). However, this attempt brings not only technical challenges but also questions about market acceptance. Although it theoretically provides a more flexible ownership model for assets, in practice, this semi-fungibility may lead to market confusion, making it difficult for investors to assess the true value of the tokens.

Unique Value Proposition

Semi-Fungibility

The ERC-404 token introduces the new concept of semi-fungibility to the blockchain ecosystem. By bridging the interchangeability of ERC-20 tokens and the uniqueness of ERC-721 tokens, ERC-404 provides a multifunctional solution for digital assets.

Fragmented Ownership

This standard allows for fragmented ownership of unique digital assets (such as artwork or virtual real estate). It democratizes access to high-value assets by making them easier to acquire and liquidate.

Independent Trading

The dual nature of ERC-404 tokens and their corresponding NFTs allows for independent trading, enhancing the liquidity and utility of the digital asset market.

Mechanism

Each ERC-404 token is intrinsically linked to a unique NFT, creating a symbiotic relationship between fungible and non-fungible assets. The minting of an NFT results in the creation of the corresponding fungible token, and vice versa. The splitting of tokens leads to the destruction of the associated NFT, while merging enough fractional shares to form a complete token triggers the minting of a new NFT.

Risks

Lack of Formal Review and Security Audits

1. Security Vulnerabilities

The greatest risk comes from the lack of rigorous security audits for ERC-404 tokens. Without these audits, there may be undiscovered vulnerabilities that malicious actors could exploit, leading to loss of funds or other security breaches.

1. Experimental Nature

While the innovative aspects of ERC-404 are promising, they also introduce uncertainty. New code, especially untested in real-world scenarios, carries a higher risk of containing critical errors or design flaws.

Compatibility

1. Compatibility with Existing Infrastructure

Official ERC standards benefit from widespread support from wallets, exchanges, and other infrastructures. The unofficial status of ERC-404 may hinder its compatibility, limiting its utility and seamless interaction with the broader Ethereum ecosystem.

1. Interoperability Issues

The unique mechanisms of ERC-404 tokens may lead to compatibility issues with existing smart contracts and dApps designed for ERC-20 and ERC-721 tokens. These issues could complicate their use in certain applications, or even render them unusable without significant modifications.

Community and Ecosystem Impact

1. Precedent of Unofficial Standards

Adopting ERC-404 without going through the formal EIP process may encourage the proliferation of other experimental standards without proper review. This could lead to a fragmented ecosystem, increasing the risk of security incidents due to a lack of coordinated review and auditing.

1. Trust Issues

Part of the strength of the Ethereum ecosystem lies in the trust in its standards and governance processes. Bypassing these processes may undermine confidence among developers, investors, and users, potentially slowing the pace of innovation and adoption.

ERC-404 Project Introduction

404Bakery

Bakery 404 represents a revolutionary advancement in democratizing token creation within the Ethereum blockchain ecosystem. By leveraging the unique properties of ERC-404 tokens, Bakery 404 provides a direct, user-friendly, and rapid platform for anyone interested in deploying custom tokens.

Innovations of 404Bakery

Bakery 404 simplifies the token creation process, making it accessible not just to professional builders but to a broader audience. This accessibility is crucial for fostering innovation and participation within the Ethereum ecosystem.

Key Features

1. User-Friendly Token Creation

Through a simplified process, users can create tokens by specifying attributes such as name, ticker, and supply without writing any code.

1. Rapid Deployment

Tokens can be deployed on the Ethereum mainnet within minutes, with plans to extend support to Base and Arbitrum networks.

1. Accessibility

Using a Telegram bot to guide the token creation process makes it more accessible to a wide user base, eliminating barriers to entry into the crypto space.

How Bakery 404 Works

The platform utilizes an intelligent Telegram bot as an interactive guide for the token creation process. This approach not only simplifies the experience but also adds a level of engagement that traditional token creation tools lack. Users can make decisions about their token characteristics through a conversational interface.

Step 1: Start a Conversation with the Bot Action: Open Telegram and use the provided link to find the 404 Bakery Deploy Bot. Purpose: This initiates your interaction with the bot, which will guide you through the deployment process.

Step 2: Create a New Ethereum Wallet Action: If you do not have an Ethereum wallet, the bot will generate one for you. Ensure you securely store the provided private key. Purpose: An Ethereum wallet is crucial for managing your ERC-404 tokens and paying deployment fees.

Step 3: Fund Your Wallet Action: Ensure that your newly created or existing Ethereum wallet has at least 0.3 ETH. Purpose: ETH is used to pay the gas fees associated with deploying your token on the Ethereum mainnet.

Step 4: Start Deployment Action: Type /deploy in the chat with the bot to initiate the deployment process. Purpose: This command indicates to the bot that you are ready to proceed with creating your ERC-404 token.

Step 5: Provide ERC-404 Token Details Action: When prompted by the bot, enter the name and ticker of your ERC-404 token. Purpose: These details personalize your token, making it identifiable on the blockchain.

Step 6: Add IPFS and Website Links Action: Provide an IPFS link containing the metadata for your token and a link to the token's website. Purpose: The IPFS link hosts your token's metadata in a decentralized manner, while the website link provides additional information about your token.

Step 7: Contract Deployment Action: After confirmation, the bot will deploy your ERC-404 token contract on the Ethereum mainnet. Purpose: This ultimately completes the creation of your token, making it available for your intended purposes.

Token Economics

Source: 404Bakery Doc

1. Liquidity Pool (90%): Locked on UNCX
2. Ecosystem (5%): For activities with well-known marketing agencies, influencers, and centralized exchanges (CEX).
3. Team (5%): To incentivize and retain the team.

Advantages for Token Holders

1. Profit Sharing Model

Holders of the $BAKE token can earn 50% of the revenue from transaction fees on the platform. This innovative model provides token holders with a passive income stream, directly linking the success of the Bakery404 platform to the financial well-being of its community.

1. Exclusive Access and Free Waivers By holding just 0.1% of $BAKE tokens in their wallets, members can access all Bakery404 services for free. This exclusive benefit includes creating ERC-404 tokens, deploying smart contracts, and using other platform features, enhancing the utility and appeal of the $BAKE token.

Asterix Labs

Asterix Labs is dedicated to redefining the landscape of digital assets and their underlying standards, based on its groundbreaking DN404 technology.

What is DN404

DN404, as a revolutionary token standard, challenges the established ERC404, crafted by a group of cryptocurrency enthusiasts. It aims to provide similar benefits to ERC404 but with higher efficiency and lower transaction costs. By adopting a dual-contract system, integrating ERC-20 based divisible token share contracts and mirror ERC-721 contracts for unique NFTs, DN404 addresses the limitations of its predecessor while ensuring compatibility with existing token standards. This focus on efficiency and security has quickly garnered support from developers and users seeking more sustainable decentralized NFT solutions.

DN404 Features

1. Dual-Contract System

Unlike ERC404, which attempts to merge ERC-20 and ERC-721 standards into a single contract, DN404 utilizes two interlinked contracts. This approach simplifies the token creation process and minimizes potential vulnerabilities and security risks.

1. Reduced Transaction Costs

DN404 offers a competitive advantage in transaction costs, with developers reporting an average savings of about 20% in gas fees compared to ERC404. This reduction is particularly significant on the Ethereum network, where gas fees can fluctuate dramatically.

1. Enhanced Security

The separated contract structure of DN404 provides enhanced security features, reducing the risk of potential vulnerabilities compared to the single-contract approach of ERC404.

1. Efficiency and Performance

DN404 prioritizes efficiency and security, providing a reliable framework for tokenization and asset management, making it a strong competitor to ERC404 within the Ethereum ecosystem.

Project Performance

Source: Opensea, DEXTools

The NFT floor price is 0.9 ETH, and although the trading volume is not high, the price of the token has increased more than tenfold since its issuance.

DeFrog

DeFrog, as the first PFP project driven by the ERC404 token standard, includes 10,000 uniquely designed DeFrogs, each offering a mix of rarity, artistic value, and technical innovation.

Project Performance

Source: Opensea, DEXTools

As the first PFP project of ERC 404, it initially experienced a tenfold increase but has now fallen back to about double its height.

Anon

ANON has developed the ERC352 standard, a milestone innovation in the NFT ecosystem. This new standard aims to address and overcome the limitations of previous NFT standards (including ERC721 and ERC1155) by introducing enhanced liquidity mechanisms, improved rarity features, and support for fractional ownership. The ERC352 standard introduced by ANON is based on the foundational principles of ERC404 and further pushes the boundaries of digital asset management and ownership possibilities.

Key Innovations

1. Enhanced Liquidity Mechanism

ANON's ERC352 standard significantly reduces gas fees by integrating whitelist functionality to facilitate seamless interaction between ERC20 and ERC721 standards, enhancing market liquidity and accessibility.

1. Improved Rarity Features

ERC352 addresses one of the most pressing challenges in the NFT space: rarity management. Through complex contract mechanisms, it ensures that the rarity and uniqueness of each NFT are maintained, preserving their value and appeal.

1. Support for Fractional Ownership

By strengthening the mechanism for token fragmentation, ERC352 opens up new opportunities for broader investor participation in the NFT market. This not only makes NFTs more accessible but also increases their rarity and value by locking fractions before the entire token is available for purchase.

Project Performance

Source: Opensea, DEXTools

The project's NFTs have not yet seen trading volume on Opensea, and the tokens have only been hyped to a tenfold increase at launch, now falling back to the opening price.

Alphabet

Alphabet leverages the ERC-404 token standard and cross-chain messaging to revolutionize the points ecosystem. Although the founder's background is anonymous, they possess extensive qualifications, having served in the crypto teams of UNICEF and Deloitte.

Project Overview

Alphabet's mission is to transform the implementation of points programs, utilizing the ERC-404 standard to promote transparent, efficient, and decentralized incentive schemes. This initiative not only seeks to decentralize points programs but also aims to redefine their utility and accessibility on a global scale.

1. Innovative Use of ERC-404

Inspired by the novel approach of ERC-404, which blends the fungible and non-fungible aspects of tokens, Alphabet plans to apply this standard to create a smoother and more multifunctional points system. This system aims to significantly reduce operational costs while increasing the liquidity and utility of points as incentives.

1. L1 Blockchain Development

At its core, Alphabet aims to create a new L1 blockchain specifically designed for running points programs. Major L1 token holders can stake their tokens to earn fees from these programs, introducing a sustainable economic model that rewards participation and support for the ecosystem.

1. Art and Community Engagement

Alphabet also emphasizes community engagement and aesthetic appeal, planning to refresh its art in the coming weeks. The project has allocated a significant marketing budget to ensure visibility and attractiveness within the crypto community, attracting key opinion leaders and movements to spread the word.

Goals and Vision

1. Decentralization of Points Programs

Alphabet aims to shift the paradigm of current points programs from centralized to decentralized, providing a transparent and autonomous mechanism for incentivizing and rewarding community participation.

1. On-Chain Implementation

By leveraging ERC-404 and cross-chain messaging, Alphabet seeks to bring traditional points programs onto the blockchain, ensuring that these incentives are accessible, transparent, and efficient.

1. Building a Composable Ecosystem

The project focuses on creating a gas-efficient and composable ERC-404 standard that can be seamlessly integrated into various protocols and blockchains, facilitating a universal system for earning and distributing on-chain points.

Project Performance

Source: Opensea, DEXTools

The project's NFTs have only seen minimal trading volume on Opensea, and the tokens have only been hyped to a tenfold increase at launch, now falling back to the opening price.

SHEboshis

In October 2021, the Shib community introduced its first NFT collection, Shiboshis, which includes 10,000 male characters. Recently, SHEboshis marks an innovation for women and the NFT space, strongly supporting the future of NFTs within the Shib ecosystem. SHEboshis are developed using ERC-404 technology, aiming to expand the functionality and inclusivity of the Shib NFT realm.

Mechanism

SHEboshis offers a unique distribution mechanism based on the number of Shiboshis held and the holding time, with Leash holders enjoying priority at purchase. However, due to contract vulnerabilities, the initial phase was skipped, going directly to public sales. These tokens built on ERC-404 technology are tradable and will be available on Uniswap and Shibaswap.

Pairing Mechanism

Shib plans to introduce a pairing mechanism between Shiboshi and SHEboshis, hinting at the generation of descendant NFTs/tokens. The specific details of this output have not yet been disclosed, with functionality expected to launch within this year.

Integration into Shiboshi Game

Similar to Shiboshis, SHEboshis will play a role in the Shiboshi game, a strategy game utilizing NFTs within the Shib ecosystem. This integration emphasizes the equal status and potential value alignment between Shiboshis and SHEboshis.

Project Performance

As an official product launched by Shib, continuous empowerment is expected in the future, and the first-generation NFT series Shiboshis also experienced a good increase initially. The second-generation SHEboshis are relatively cheaper, and prices may rebound after the launch of ERC 404 trading.

ERC-X

MINER is a collection of 10,000 avatars or equivalents made possible by implementing the experimental ERC-X token standard. This standard distinguishes itself by providing a multifunctional tokenization approach, combining features from several established ERC standards, including ERC20, ERC404, ERC721, ERC721A, ERC721Psi, ERC1155, and ERC1155Delta.

ERC-X optimizes the utility and efficiency of token standards on the Ethereum network. Its design facilitates the integration of various standards into a unified framework, allowing for a wide range of applications while maintaining gas efficiency and scalability.

1. Gas Efficiency and Cost-Effectiveness

One of the hallmark features of ERC-X is its significant gas efficiency. By optimizing transaction costs, ERC-X enables the possibility of trading tokens with minimal capital, depending on Ethereum's gas prices. This efficiency stands in stark contrast to the often prohibitive transaction costs under the original standards, making ERC-X a practical solution for large-scale operations.

While ERC-X has made significant strides in enhancing gas efficiency and reducing transaction costs, this optimization may introduce more complex underlying logic. This complexity poses a challenge for developers building applications on ERC-X and may increase the risk of security vulnerabilities, as more complex code is often harder to audit and verify.

1. Scalability and Flexibility

The scalability of ERC-X is evident in its support for projects of any scale, thanks to its flexible token/NFT ratio. This adaptability is further enhanced by its ability to present NFTs as ERC721 or ERC1155 tokens. Such flexibility ensures that ERC-X can accommodate a wide range of applications, from simple token transfers to complex NFT integrations.

Although ERC-X contributes to enhancing the scalability and flexibility of tokens and NFTs, this cross-standard integration may also raise compatibility issues. Particularly when interoperating with legacy standards and infrastructures, unexpected technical hurdles may arise. This necessitates a continuous process of updates and adaptations to ensure ERC-X can operate smoothly within the existing ecosystem.

1. Innovation through ERC1155Delta

Integrating elements of ERC1155Delta into ERC-X is a key innovation that provides a significant enhancement to the standard's optimization capabilities. The extension of ERC1155Delta to the ERC1155 standard allows ERC-X to offer dual functionality; it supports the generation of both ERC721 and ERC1155 tokens, ensuring compatibility with markets supporting either format.

While the integration of ERC1155Delta into ERC-X brings new innovations to the token standard and increases dual functionality, the complexity of this design may lead to challenges in understanding and utilizing these features in practical applications. Particularly for users unfamiliar with the characteristics of ERC1155Delta, understanding how to effectively leverage these features may require a learning curve.

1. EasyLaunch: Simplifying Token Launch

The EasyLaunch feature of ERC-X simplifies the token launch process to just two steps: deployment and liquidity addition. Compared to the more complex processes associated with other standards, this simplicity is a significant improvement, as it eliminates multiple preliminary steps before adding liquidity. Therefore, EasyLaunch represents a major advancement in making token launches more accessible and time-efficient.

While the EasyLaunch feature simplifies the token launch process, this simplification raises the question of whether it may obscure certain critical considerations in token issuance. For instance, considerations regarding liquidity management, security validation, and long-term token economics strategies may be overlooked due to the streamlined process. Thus, while EasyLaunch enhances accessibility and efficiency, developers and project teams need to remain cautious to ensure that they do not sacrifice thorough project planning and prudent security audits.

Summary

Fragmented Ownership: Democratization or Complication?

The introduction of fragmented ownership, while intended to democratize access to high-value assets by lowering entry barriers, actually increases the complexity of trading and management. The practicality of this approach is limited by users' understanding and adaptability to managing such assets, as well as the market's demand for the liquidity of these fragmented assets.

Independent Trading: Liquidity Enhancer or Potential Source of Chaos?

The dual nature of ERC-404 tokens and their NFTs aims to enhance market liquidity, which sounds exciting. However, in practice, this may lead to market fragmentation, with one segment focusing on traditional NFTs while another pursues the new model of ERC-404. This fragmentation could dilute liquidity rather than enhance it.

In summary, current ERC-404 related projects are still in their early stages. While these projects experienced some appreciation due to the novelty of ERC-404 and the leadership of flagship projects like Pandora, prices have gradually retreated to near opening levels. Additionally, ERC-404 has spawned new standards such as ERC-352 and DN404. These projects demonstrate the Ethereum ecosystem's bottom-up self-adjustment capability, and this community-driven asset management approach has established its user base. As long as technology and user experience continue to be optimized in the future, a complete ecological sector is expected to be built.

Tiny_spl

Tiny SPL represents a new approach to addressing on-chain data storage cost challenges within the Solana ecosystem, utilizing innovative state compression technology.

Background

Solana's Rent Mechanism

Solana implements a unique account model that includes a rent mechanism. Unlike Ethereum, which primarily charges transaction fees, Solana also imposes rent fees on accounts for storing data on the blockchain. This rent is calculated based on the account's token balance, aimed at ensuring efficient use of storage resources. Accounts unable to pay rent may be deleted, although accounts with balances exceeding two years' worth of rent are exempt. As technology advances and storage costs decrease, rent costs are expected to decline, although fluctuations in SOL prices may affect users' actual cost burden.

Operation Mechanism of Tiny SPL

Tiny SPL emerges as a smaller, more efficient iteration of the Solana Program Library (SPL) token standard. Its main innovation lies in achieving token ownership without associated rent costs, thanks to state compression. This method significantly reduces on-chain storage requirements by utilizing Merkle trees to compress data verifiability into a single hash. This breakthrough is particularly applied to drastically lower the costs of minting NFTs on Solana by several orders of magnitude, as demonstrated by Helium Mobile, which minted nearly a million NFTs at a fraction of traditional costs.

Differences Between Tiny SPL Tokens and Standard SPL Tokens:

1. No Rent Payment

By utilizing state compression, Tiny SPL tokens circumvent the need to pay rent, addressing one of the primary costs associated with token ownership on Solana. NFT Partial Visibility: Unlike standard tokens that appear in wallet balances, Tiny SPL tokens are only visible in the NFT section, reflecting their unique storage and management approach.

1. Interactive Experience

Tiny SPL introduces a unique token management experience, including the processes of splitting and merging tokens. These operations are crucial for adjusting the number of tokens in transactions and incur nominal gas fees.

Project Introduction

Deez Nutz

Deez Nutz, as an experiment of the Tiny SPL protocol, provides holders with the flexibility to manage their held assets in innovative ways. It allows users to directly split, merge, and exchange their tokens through the interface, connecting their digital wallets. This token aims to provide a seamless experience for users who wish to customize their asset holdings according to their needs.

Key Features

1. Split $NUTS

Holders can split their $NUTS tokens into smaller denominations, allowing for more granular control over their assets. This can be done in both integer and decimal forms, with a minimum split amount of 1. This feature is particularly useful for users looking to allocate or manage their assets more effectively.

1. Merge $NUTS

Users can choose to merge their $NUTS balances, merging up to 50 token balances at a time. This can simplify users' wallets and streamline asset management. The process involves selecting the balances to merge and confirming the transaction through their wallet.

1. Exchange $NUTS

The platform provides an exchange function, allowing users to swap their $NUTS tokens for SOL (and vice versa), with a trading limit set to the user's maximum combined token balance minus 1. This feature is suitable for users looking to diversify their portfolios or adjust their holdings based on market dynamics.

Project Performance

Source: Magic Eden, Dextools

The project is currently underperforming, having dropped about fifty percent from its issuance price, and the market is yet to be widely accepted.

Summary

Tiny SPL is currently in a technical experimentation phase, with initial challenges surrounding splitting and merging functions having been resolved. The protocol's ability to reduce storage costs while maintaining the security and decentralization of the Solana base layer marks a significant innovation. However, the practical application and future adoption of Tiny SPL will depend on its ability to meet the needs of projects that require large-scale token issuance without incurring rent costs.

Anatoly Yakovenko, co-founder of Solana, has also highlighted the potential significance of Tiny SPL through social media, emphasizing its potential implications within the ecosystem. The community's response and the evolving use cases of the protocol will further determine its position in optimizing blockchain efficiency and accessibility within Solana's broader strategy.

Tiny SPL provides an alternative solution to avoid account deletion by circumventing Solana's rent payment requirement. The innovation of this mechanism offers token holders a nearly cost-free method of storing tokens. However, this approach of bypassing the rent mechanism may be seen as a distortion of the original design principles of the Solana ecosystem. The rent mechanism was established to ensure efficient resource utilization and system sustainability, and the emergence of Tiny SPL may raise questions about the enforcement of this principle.

Asteroid

Asteroid is a groundbreaking protocol framework created on the Cosmos Hub, resulting from collaboration between Delphi Labs and the Astroport Foundation. It stands out by allowing anyone to permanently publish data on the blockchain, introducing a suite of tools including indexers, browsers, APIs, and specifications for Cosmos's fungible tokens (CFT-20), along with token distribution, minting tools, and comprehensive software solutions. The introduction of $ROIDS as the first CFT-20 token highlights its innovative approach to tokenization and data permanence on the Cosmos Hub.

Overview of Mechanism and Technical Analysis

Asteroid simplifies the blockchain interaction process, enabling users to connect via the Keplr wallet to publish data or mint CFT-20 tokens. This process allows users to interact with web3 technology without needing an in-depth understanding of smart contracts.

1. Meta-Protocol Framework

Asteroid operates as a meta-protocol framework, meaning it provides a foundational layer upon which other protocols or applications can build. This scalability is crucial for fostering innovation and facilitating diverse use cases within the Cosmos ecosystem.

1. Arbitrary Content Permanence

The framework's support for arbitrary content permanence is innovative in the market. It breaks down the barriers typically requiring smart contract development, allowing various types of data to be directly published on the blockchain. This feature could significantly lower the entry barriers for developers and creators looking to leverage blockchain technology.

CFT-20 Token Overview

Asteroid introduces CFT-20 tokens, providing a new asset creation and distribution mechanism within the Cosmos ecosystem. Fungible tokens are crucial for a wide range of applications, enhancing the utility and flexibility of the Cosmos Hub.

1. Accessibility of the Toolkit

The open-source nature of the Asteroid toolkit promotes a transparent and inclusive development environment. By providing exploration, indexing, and token minting tools, Asteroid ensures developers have the necessary resources to innovate and effectively expand the capabilities of the Cosmos Hub.

1. Tokenization Innovation

The introduction of CFT-20 tokens expands the utility and interoperability of digital assets within the Cosmos ecosystem.

1. Simplified Blockchain Interaction

Enabling non-experts to access blockchain technology is an important step toward democratizing the web3 space.

Project Introduction

Essentially, the Asteroid Protocol functions like the Unisat market of the Cosmos ecosystem, providing a one-stop service for inscription creation or marketplace services. Although the sector has not been widely accepted, the project team is still actively building.

Summary

Asteroid simplifies interactions with the blockchain, and the innovative CFT-20 token standard positions it as a catalyst for the future development of the Cosmos ecosystem. The framework's scalability and inclusivity can transform the Cosmos Hub into a central database for numerous projects. Drawing on the catalytic effects of inscriptions like ordi and rats in the Bitcoin ecosystem, one can expect CFT-20 to bring about similar effects for Cosmos.

Asteroid supports arbitrary content permanence, which is an innovation in the market. This opens a door for various types of data to be permanently stored on the blockchain. The prospects of this capability are exciting, as it greatly increases the range and depth of blockchain applications. However, arbitrary content permanence may also lead to issues of data flooding and quality control. Without proper review and filtering mechanisms, the blockchain could become cluttered with irrelevant or inappropriate content, increasing storage burdens and diminishing the overall value and credibility of the ecosystem.

These protocol standards exhibit the following common industry trends:

• Flexibility and Liquidity of Assets: The market requires more flexible asset management tools that can adapt to various financial and non-financial uses.
• Cost Efficiency: As blockchain applications expand, reducing operational costs becomes a significant demand, whether through lower transaction fees or storage costs.
• Participation of Non-Technical Users: As blockchain technology becomes more widespread, simplifying technical complexities to attract non-technical users is an important development direction.

In the long run, the adoption of innovations primarily depends on their ability to address core market needs and the potential economic and social impacts they bring. Asteroid, with its emphasis on non-technical user participation and the concept of meta-protocols, has the potential to make a profound impact on a wide range of applications. This emphasis on inclusivity and ease of use may drive faster market adoption and ecosystem growth. ERC-404 addresses the market's demand for complex asset management tools through its flexible asset ownership and liquidity-enhancing features. While it faces some market confusion and security challenges, its potential market breadth cannot be overlooked. TinySPL, while targeting specific issues (data storage costs) within a particular ecosystem (Solana), may have limited impact, especially as multi-chain and cross-chain operations become the norm.