Ethereum Improvement Proposal EIP-6147 finalized to enhance ownership and transfer rights of NFT and SBT
On March 7, it was reported that the Ethereum improvement proposal EIP-6147 proposed by 10K Universe has been moved to the final version. This standard is an e…
On March 7, it was reported that the Ethereum improvement proposal EIP-6147 proposed by 10K Universe has been moved to the final version. This standard is an extension of ERC-721, which separates the ownership and transfer rights of NFT and soul bound token (SBT), and defines a new role, namely guard (settable expiry time). The flexibility of guard setting makes it possible to design NFT anti-theft, NFT lending, NFT leasing, SBT, etc. Ethereum EIP needs to go through the stages of conception, draft, review and LastCall before reaching the final state. Any EIP under draft or review will be moved to a standstill if it is inactive for 6 months or more.
EIP-6147 has been moved to the final version, which can separate the ownership and transfer rights of NFT and SBT
Interpretation of the news:
The Ethereum improvement proposal EIP-6147 has been moved to the final version, as reported on March 7. This proposal, put forward by 10K Universe, is an extension of ERC-721 and serves to separate the ownership and transfer rights of NFT and soul bound token (SBT). The proposal defines a new role, known as the guard, which allows for the settable expiry time of NFTs. The guard setting provides flexibility and paves the way for new possibilities in designing NFT anti-theft, lending, leasing, SBT, and more.
Ethereum EIPs undergo several stages before reaching the final state. These stages include conception, drafting, review, and LastCall. Once the EIP is inactive for more than 6 months during any of these stages, it is moved to a standstill.
In simple terms, EIP-6147 provides ownership and transfer right benefits to NFT holders. This means that NFT owners get to retain absolute control over their assets while being able to transfer them to any interested party. The separation of ownership and transfer rights means that one can own an NFT while simultaneously allowing someone else to transfer it on their behalf. Additionally, the guard feature allows for setting an expiry time, which reduces the chances of theft, lending, leasing, and other threats that NFT holders face.
With EIP-6147, NFT and SBT owners stand to benefit from the increased flexibility in designing assets. This will enable the creation of new and exciting products and services, such as NFT lending and leasing. These new applications will serve to bolster the already impressive use cases of NFTs, which are becoming increasingly popular across various industries.
In conclusion, the finalization of EIP-6147 brings an added layer of security and flexibility to NFT ownership and transfer rights. The guard setting aspect of the proposal increases the range of possibilities for NFT use cases, presenting a wealth of opportunities for new products and services.
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