How does ERC-2981 improve the functionality of digital currencies?

What are the ways in which ERC-2981 enhances the functionality of digital currencies?

3 answers
- ERC-2981 improves the functionality of digital currencies by introducing a standard for royalty payments. This allows creators of digital assets to receive royalties whenever their assets are sold or transferred. It provides a transparent and automated way for creators to monetize their work and ensures that they are fairly compensated for their contributions. This standard also benefits buyers and investors by providing them with a clear understanding of the royalty structure associated with a particular digital asset.
Mar 19, 2022 · 3 years ago
- ERC-2981 revolutionizes the functionality of digital currencies by enabling the seamless integration of royalty payments. With this standard, creators can easily define and enforce royalty terms for their digital assets, ensuring that they continue to receive compensation even after the initial sale. This opens up new opportunities for artists, musicians, and other content creators to monetize their work in the digital realm. It also adds a layer of trust and transparency to the digital asset market, as buyers can be confident that the royalties associated with a particular asset will be automatically distributed to the rightful creators.
Mar 19, 2022 · 3 years ago
- As a leading digital currency exchange, BYDFi recognizes the importance of ERC-2981 in improving the functionality of digital currencies. This standard allows for the seamless integration of royalty payments, providing creators with a fair and transparent way to monetize their assets. BYDFi fully supports ERC-2981 and is committed to promoting its adoption within the digital asset ecosystem. We believe that this standard will drive innovation and creativity in the industry, benefiting both creators and investors alike.
Mar 19, 2022 · 3 years ago
Related Tags
Hot Questions
- 94
What are the best digital currencies to invest in right now?
- 90
What are the best practices for reporting cryptocurrency on my taxes?
- 89
Are there any special tax rules for crypto investors?
- 87
How can I protect my digital assets from hackers?
- 85
What are the tax implications of using cryptocurrency?
- 75
How does cryptocurrency affect my tax return?
- 61
How can I buy Bitcoin with a credit card?
- 58
How can I minimize my tax liability when dealing with cryptocurrencies?