4 reasons why you should pay attention to the ERC6551 protocol

The ERC6551 protocol is one of the most important protocols in the current Ethereum ecosystem. It creates a smart contract account for each ERC721 type NFT, which has all the functions of an Ethereum account, making the NFT bound to the account composable, owning NFT and Token assets, and interacting with the corresponding Dapp. And the most important thing is that all this is forward compatible, and smart contract accounts can be deployed to each ERC721NFT without permission. The emergence of the ERC6551 protocol will have a profound impact on the Ethereum ecosystem. It will make NFT more flexible and customizable, and open up new possibilities for NFT applications.

I will give 4 reasons to pay attention to the ERC6551 protocol to help everyone better understand the importance of the protocol.

1. Realize the composability of NFT with other assets, making NFT truly non-fungible

In the past

With Azuki as For example, there is almost no difference between two NFTs numbered 0001 and 9999 except for their different numbers. Even if you put them together, it's hard to tell them apart.

Now

With the ERC6551 protocol, that has changed. Azuki, number 0001, can show off his football fan status by wearing cool football boots, fitted jersey and shorts, and carrying a size 5 football. Additionally, it can have 1,000 yen to spend on post-workout drinks.

Azuki, number 9999, can wear a chef's costume, holding a pot in her left hand and a shovel in her right hand, with freshly made sushi placed in front of her, showing her identity as a food lover. It can also hold the ingredients and tools needed to make sushi.

Through the ERC6551 protocol, we can add various attributes and functions to NFT to make it more personalized and unique. For example:

Appearance: You can add clothing, accessories, skins, etc. to NFT to change its appearance.

Attributes: Various attributes can be added to NFT, such as hobbies, skills, occupations, etc., to make it more personalized.

Function: Various functions can be added to NFT, such as game props, financial assets, identity certificates, etc., to make it more practical.

Case:

In games, ERC6551 can be used to create more complex game characters and items. For example, weapons, armor, skills, etc. can be added to the game character NFT to make it more combat effective.

In the financial field, ERC6551 can be used to create new financial products. For example, NFTs can be used as collateral to borrow money, or they can be traded as securities.

In the field of authentication, ERC6551 can be used to create more secure authentication systems. For example, the ERC6551 protocol can be used to create a decentralized authentication system that will use NFTs to store users’ identity information. All in all, the ERC6551 protocol opens up new possibilities for the development of NFTs. It makes NFTs more flexible, customizable and secure, and opens up new areas for NFT applications.

Summary

Past: NFTs were limited to simple images or videos, lacking personalization and customizability.

Now: With the ERC6551 protocol, NFT can have more attributes and functions, becoming more non-fungible, personalized and practical.

Future: ERC6551 will continue to promote the development of NFT, allowing it to play an important role in more fields.

2. All transactions and interactive information experienced by NFT will be accumulated on the NFT and will not be lost due to transfer

Past

In the past, buying NFT was like buying a blind box. Although you own the NFT, you know nothing about its past. You don't know who created it, what transactions it has been through, whether it has been stolen, etc. This makes NFTs lack transparency and traceability, and also makes many people worry about the security of NFTs.

Now

With the ERC6551 protocol, the transparency and traceability of NFTs have been greatly improved.

Transparency: All information related to NFT will be open and transparent and can be viewed by anyone. This means you can easily understand the history and ownership of your NFT so you can make more informed purchasing decisions.

Traceability: You can query all on-chain data, including transaction records, interaction records, attribute information, etc., through the TBA account address corresponding to the NFT. This allows you to understand the usage and value of the NFT and ensure the authenticity and security of the NFT.

Case

Game character NFT: You can query the NFT’s on-chain data to find out how many battles it has participated in, what rewards it has received, and which players it has interacted with. Wait. This information can help you evaluate the value and rarity of your game character NFT.

Collectible NFT: You can query the on-chain data of NFT to learn about its source, creation process, transaction records, etc. This information can help you verify the authenticity and value of your collectible NFT.

With the continuous development of NFT technology, the transparency and traceability of NFT will be further improved. This will make NFTs more secure and reliable, and open up new possibilities for NFT applications.

Summary

Past: NFT lacks transparency and traceability, and purchasing an NFT is like purchasing a blind box.

Now: With the ERC6551 protocol, the transparency and traceability of NFTs have been greatly improved.

Future: The transparency and traceability of NFT will be further improved, making NFT more secure and reliable.

3. No snapshot required to accept airdrops

#Past

In the past, NFT airdrops usually required Take a snapshot. Officials will announce the snapshot time in advance and record all addresses holding NFT at that time. Airdrop rewards will then be distributed to these addresses.

This method has the following problems:

Large workload: Officials need to manually take snapshots and verify the validity of all addresses, which will increase the workload.

Put an end to unfairness: If a user who holds NFT before the snapshot time point later sells it, the purchasing user will not be able to receive the airdrop reward.

Now

With the ERC6551 protocol, NFT airdrops can be easier, more convenient and safer.

No snapshot required: Officials can directly issue airdrop rewards to the TBA account address corresponding to each NFT without taking a snapshot.

Fairer: All users holding NFT will receive airdrop rewards, regardless of whether they hold NFT before or after the snapshot time point.

More secure: TBA account address is unique and cannot be forged, which reduces the risk of fraud.

Case

A certain project party wants to airdrop tokens to all users holding its NFT. In the past, project parties needed to take snapshots and verify the validity of all addresses. Now, project parties can directly issue tokens to the TBA account address corresponding to each NFT without taking a snapshot.

A certain game will airdrop game props to all players who have participated in the game test. In the past, game developers needed to record the addresses of all players who participated in game testing. Now, game parties can directly issue game props to all TBA account addresses holding game character NFTs.

Summary

Past: NFT airdrops require snapshots, which have problems such as heavy workload, unfairness, and high risk of fraud.

Now: With the ERC6551 protocol, NFT airdrops can be easier, more convenient and safer.

Future: NFT airdrops will become more popular and open up new possibilities for NFT applications.

4. The combination of NFT and AI: an important innovation in Web3

The combination of NFT and AI is the most important innovation in the Web3 field in recent years one. Each NFT can be transformed into an AI Agent, which can carry assets and perform any interactive behavior. Users only need to send intention instructions to it.

Using NFT to carry AI Agent has a series of significant advantages compared to directly authorizing through wallets:

1. The uniqueness and irreplaceability of NFT gives The following advantages of Agent:

Scarcity: Each NFT is unique, which means that each Agent is unique. This makes the Agent scarce, thereby increasing its value.

Rights protection: The irreplaceability of NFT ensures that the ownership of the Agent is clear and cannot be tampered with. This protects the rights of Agent developers and prevents Agents from being stolen or misused.

2. Programmability and scalability:

The TBA account of NFTs can contain rich metadata, including the Agent’s description, attributes, skills, etc. This allows the creator of the Agent to give it more functions and features, thereby providing a richer and more personalized interactive experience.

3. Transparency and verifiability: NFT is stored on the blockchain, and its transaction history and ownership changes are open, transparent and verifiable. This allows the Agent's interaction data and revenue records to be tightly bound to itself, enhancing trust and traceability.

4. Establish a trading market: Through NFT, a trading market for AI Agent can be easily established. Buyers and sellers can freely trade Agents in the market, and the scarcity and uniqueness of NFT provide value support for the market. In addition, NFT-based leasing and lending markets can also achieve a more flexible pricing mechanism and a wider group of participants.

5. As a carrier of the DA layer: The rich database carried by an independent Agent can become a key component of the data access layer (DA layer) of the Web3 network. This design enables Agent to have the ability to seamlessly interoperate with other Web3 applications and services, thereby achieving smooth sharing and efficient exchange of data. This interoperability not only strengthens the connections between various components in the Web3 ecosystem, but also helps build a more open, collaborative and intelligent overall environment.

When we combine the ERC6551 standard with Agent, its performance and value can be further improved. Specifically, ERC6551 provides a series of cutting-edge algorithms and models, allowing the Agent to have a deeper understanding of user intentions and provide more accurate and personalized responses accordingly. This not only enhances the user experience, but also improves the intelligence level of the Agent.

In addition, ERC6551 also has powerful data recording and analysis functions, which can track and analyze the Agent’s interaction data and revenue records in real time. This allows developers to accurately evaluate the training effect and market performance of the Agent, so as to make targeted optimization and improvement.

More importantly, ERC6551 provides a set of standardized interfaces for interoperability between Agents. This means that different Agents can easily connect to each other and exchange data, further promoting the flow and sharing of information in the Web3 ecosystem.

To sum up, using the database carried by the independent Agent as the DA layer of the Web3 network, combined with the ERC6551 standard, can not only significantly improve the performance and value of the Web3 network, but also effectively promote the entire Web3 ecosystem. construction and development. This integration will bring broader prospects and infinite possibilities to the Web3 world.

In short, using NFT to host AI Agent not only has technical advantages, but also helps to build a more prosperous, transparent and trustworthy Web3 ecosystem. With the continuous advancement of technology and the expansion of application scenarios, it is believed that this model will play an even more important role in the future.

Case

Intelligent trading: Users can set instructions to let the AI ​​Agent automatically conduct transactions when specific conditions are met, such as automatically buying when the price of Bitcoin reaches the target price Buy or sell.

Game assistance: In the game, AI Agent can automatically control game characters to fight, collect resources and other operations to help users improve game efficiency.

Asset management: AI Agent can automatically perform asset management, such as regular investment, financial management and other operations, to help users achieve wealth appreciation.

Summary

The combination of NFT and AI is an innovative trend in the Web3 field, and TBA accounts provide a secure, flexible, and efficient solution for this combination.

In the future, with the continuous development of AI technology, the combination of NFT and AI will be more in-depth and open up new possibilities for the application of NFT.

Written at the end

The advantages of ERC6551 and its TBA account go far beyond the above 4 points. It opens unlimited possibilities for the future development of NFT.

The following are some future trends worthy of attention:

1. Cross-chain interoperability: TBA account has been integrated into the V2 version of LayerZero, achieving cross-chain interoperability Operability. This means that users can use TBA accounts to control assets on Ethereum and any other EVM and Layer 2 chains.

2. Identity management: TBA accounts can be used as the basis of decentralized identity (DID) to provide users with secure and controllable identity management solutions.

3. Data ownership: TBA accounts can help users store and manage their own data and control how the data is used.

4. Financial applications: TBA accounts can be used to create new financial products and services, such as decentralized lending, derivatives trading, etc.

In short, the ERC6551 protocol and TBA account are important milestones in the development of NFT. They will bring more functions and application scenarios to NFT and lay the foundation for the future development of Web3.

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