How can ERC-2981 help to enhance the security of cryptocurrency transactions?

3 answers

• Nov 27, 2021 · 3 years ago
  ERC-2981 is an Ethereum Improvement Proposal that aims to enhance the security of cryptocurrency transactions. It introduces a standardized interface for non-fungible tokens (NFTs) that allows for the implementation of royalty payments on secondary sales. By enabling royalty payments, ERC-2981 helps protect the rights and interests of content creators and artists in the digital art and collectibles space. This ensures that creators receive a portion of the proceeds every time their NFT is resold, providing them with a continuous stream of income and incentivizing the creation of high-quality content. With this mechanism, ERC-2981 helps to foster trust and security in the NFT market, as creators can be confident that they will be fairly compensated for their work even after the initial sale.
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• Nov 27, 2021 · 3 years ago
  ERC-2981 is a game-changer for the security of cryptocurrency transactions. By introducing royalty payments for NFTs, it addresses a major concern in the digital art and collectibles space. Previously, artists and creators often missed out on additional revenue when their NFTs were resold on secondary markets. With ERC-2981, artists can now receive a percentage of the sale price every time their NFT is sold, ensuring that they are fairly compensated for their work. This not only enhances the security of transactions by providing a transparent and fair system, but it also incentivizes artists to continue creating and contributing to the NFT ecosystem. With ERC-2981, the NFT market becomes more secure and sustainable, benefiting both creators and collectors.
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• Nov 27, 2021 · 3 years ago
  At BYDFi, we recognize the importance of security in cryptocurrency transactions. ERC-2981 is a significant development in this regard. It introduces a standardized interface for royalty payments on NFTs, which enhances the security of transactions in the digital art and collectibles space. With ERC-2981, creators can now have peace of mind knowing that they will receive a portion of the proceeds every time their NFT is resold. This not only protects their rights and interests but also fosters trust and confidence in the NFT market. By implementing ERC-2981, BYDFi aims to contribute to the overall security and integrity of cryptocurrency transactions, ensuring a fair and transparent ecosystem for all stakeholders.
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