IERC-20Recap of IERC Protocol at Binance Live on 7th Feb
1.What is the IERC Protocol, and what major services does IERC-20 provide for its users? The IERC Protocol stands as a decentralized inscription protocol, offering a secure and cost-effective solution to its users. All transactions and data within the IERC ecosystem are securely stored on the Ethereum blockchain, ensuring a high level of security and decentralization. Nonetheless, IERC provides a more economical approach to utilizing Ethereum without compromising on the efficiency of smart co...
IERC-20IERC-20 Protocol Started Its First Governance Vote
On February 7, 2024, IERC-20 Protocol announced the major ecosystem milestone, marking a pivotal moment in the ongoing evolution of the Ethereum inscriptions ecosystem. The first-ever IERC Improvement Proposal IEIP-1 was launched on Snapshot, a fair governance tool and a voting platform that allows DAOs, DeFi protocols, and NFT communities to vote easily and without gas fees.IERC-20 is the pioneering open trading market within the Ethereum inscriptions ecosystem. It serves as a scalable solut...
IERC-20IERC Protocol News Update April 2024
In April, the crypto industry experienced the long-anticipated Bitcoin halving at block №840,000 (mined on April 20). Both Bitcoin and altcoins rallied ahead of it and entered a continued correction afterwards. Such events are truly impactful for the industry, with market participants competing for their spotlight and community’s attention. IERC-20 Protocol has been no stranger to big news and massive development work, either. Read this digest of major ecosystem news for April 2024 that is wo...
IERC-20 Ethereum-based protocol extension program. A fairer inscription market.
IERC-20Recap of IERC Protocol at Binance Live on 7th Feb
1.What is the IERC Protocol, and what major services does IERC-20 provide for its users? The IERC Protocol stands as a decentralized inscription protocol, offering a secure and cost-effective solution to its users. All transactions and data within the IERC ecosystem are securely stored on the Ethereum blockchain, ensuring a high level of security and decentralization. Nonetheless, IERC provides a more economical approach to utilizing Ethereum without compromising on the efficiency of smart co...
IERC-20IERC-20 Protocol Started Its First Governance Vote
On February 7, 2024, IERC-20 Protocol announced the major ecosystem milestone, marking a pivotal moment in the ongoing evolution of the Ethereum inscriptions ecosystem. The first-ever IERC Improvement Proposal IEIP-1 was launched on Snapshot, a fair governance tool and a voting platform that allows DAOs, DeFi protocols, and NFT communities to vote easily and without gas fees.IERC-20 is the pioneering open trading market within the Ethereum inscriptions ecosystem. It serves as a scalable solut...
IERC-20IERC Protocol News Update April 2024
In April, the crypto industry experienced the long-anticipated Bitcoin halving at block №840,000 (mined on April 20). Both Bitcoin and altcoins rallied ahead of it and entered a continued correction afterwards. Such events are truly impactful for the industry, with market participants competing for their spotlight and community’s attention. IERC-20 Protocol has been no stranger to big news and massive development work, either. Read this digest of major ecosystem news for April 2024 that is wo...
IERC-20 Ethereum-based protocol extension program. A fairer inscription market.
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Q1: What's the difference between Blue labels and Gold labels for Inscriptions on IERC20.com?
A: Blue-label inscriptions are community inscription projects that have been verified through voting by the IERC community. Gold-label inscriptions are high-quality inscriptions verified and collaborated on by the official IERC Protocol.
Q2: Why is the minimum transaction for selling or buying at about 0.005 ether?
A: The minimum transaction amount is set at around 0.005 ETH for both selling and buying. This is intended to ensure mutual benefit, preventing buyers from being disadvantaged by high gas fees when purchasing small quantities of inscriptions.
Q3: Is $ethi the native token for the IERC team and protocol?
A: No, $ethi is not the native token of the IERC protocol. It is the first Inscription inscribed on the IERC-20 platform, and it is currently the most popular Inscription on IERC20.com.
Q4: Why are trading pairs not using $ethi but ETH instead?
A: Trading pairs use Ethereum (ETH) because IERC20.com and $ethi are built on the Ethereum blockchain, utilizing its inscription functionality.
Q5: Can I only purchase one type of inscription during bulk purchases?
A: During bulk purchases, users can buy different types of inscriptions, up to a maximum of ten. Inscriptions that have not been settled will remain in the user's shopping cart until they are successfully purchased by other users. When an inscription is purchased by another user, the corresponding inscription in your shopping cart will be marked as invalid. You can click to clear it and continue purchasing the remaining inscriptions.
Q6: Why do only buyers get charged a fee while sellers do not get charged a fee when doing transactions?
A: In fact, both buyers and sellers are charged fees using a fair process. Every seller must have bought before selling, so they have already been charged fees in previous transactions.
Q7: Will gas fees on the mainnet be calculated in $ethi or ETH?
A: Service Fee and Network fee(gas) are both paid for in ETH.
Q8: If Gas fees are not calculated in $ethi, then what is $ethi used for?
A: For example, the inscription Sparkle Inscriptions was 100% airdropped to $ethi hodlers, $ethi can now be staked for DPoS points which will shoulder the new functioning at PoW..With time, the IERC ecosystem will empower $ethi and other potential Inscriptions for more functions.
Q9: Why not use $ethi to pay gas fees?
A: $ethi is not the native/platform inscription of IERC. It is the one first inscribed and currently most popular inscription on IERC20. You don't pay BNB when withdrawing ETH in Binance.
Q10: What happens if I deploy a token whose tick already exists?
A: The deployment transaction can be successfully confirmed, but no new IERC20 inscriptions will be deployed, and no new IERC20 inscription tokens will be minted. Therefore, before deploying any inscriptions, please double-check that the ticks are not already used.
To be continued…
For more about IERC20 at:
Official website: www.ierc20.com
Twitter: @EthinscXYZ
Official Telegram: t.me/IERC20OFFICIAL
Ecosystem report:
https://gamma.app/public/IERC20-Protocol-Ecosystem-Report-l1xiy48dvhhc37k?mode=doc
Q1: What's the difference between Blue labels and Gold labels for Inscriptions on IERC20.com?
A: Blue-label inscriptions are community inscription projects that have been verified through voting by the IERC community. Gold-label inscriptions are high-quality inscriptions verified and collaborated on by the official IERC Protocol.
Q2: Why is the minimum transaction for selling or buying at about 0.005 ether?
A: The minimum transaction amount is set at around 0.005 ETH for both selling and buying. This is intended to ensure mutual benefit, preventing buyers from being disadvantaged by high gas fees when purchasing small quantities of inscriptions.
Q3: Is $ethi the native token for the IERC team and protocol?
A: No, $ethi is not the native token of the IERC protocol. It is the first Inscription inscribed on the IERC-20 platform, and it is currently the most popular Inscription on IERC20.com.
Q4: Why are trading pairs not using $ethi but ETH instead?
A: Trading pairs use Ethereum (ETH) because IERC20.com and $ethi are built on the Ethereum blockchain, utilizing its inscription functionality.
Q5: Can I only purchase one type of inscription during bulk purchases?
A: During bulk purchases, users can buy different types of inscriptions, up to a maximum of ten. Inscriptions that have not been settled will remain in the user's shopping cart until they are successfully purchased by other users. When an inscription is purchased by another user, the corresponding inscription in your shopping cart will be marked as invalid. You can click to clear it and continue purchasing the remaining inscriptions.
Q6: Why do only buyers get charged a fee while sellers do not get charged a fee when doing transactions?
A: In fact, both buyers and sellers are charged fees using a fair process. Every seller must have bought before selling, so they have already been charged fees in previous transactions.
Q7: Will gas fees on the mainnet be calculated in $ethi or ETH?
A: Service Fee and Network fee(gas) are both paid for in ETH.
Q8: If Gas fees are not calculated in $ethi, then what is $ethi used for?
A: For example, the inscription Sparkle Inscriptions was 100% airdropped to $ethi hodlers, $ethi can now be staked for DPoS points which will shoulder the new functioning at PoW..With time, the IERC ecosystem will empower $ethi and other potential Inscriptions for more functions.
Q9: Why not use $ethi to pay gas fees?
A: $ethi is not the native/platform inscription of IERC. It is the one first inscribed and currently most popular inscription on IERC20. You don't pay BNB when withdrawing ETH in Binance.
Q10: What happens if I deploy a token whose tick already exists?
A: The deployment transaction can be successfully confirmed, but no new IERC20 inscriptions will be deployed, and no new IERC20 inscription tokens will be minted. Therefore, before deploying any inscriptions, please double-check that the ticks are not already used.
To be continued…
For more about IERC20 at:
Official website: www.ierc20.com
Twitter: @EthinscXYZ
Official Telegram: t.me/IERC20OFFICIAL
Ecosystem report:
https://gamma.app/public/IERC20-Protocol-Ecosystem-Report-l1xiy48dvhhc37k?mode=doc
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