What are the potential challenges and limitations of using ERC2981 in the blockchain industry?

3 answers

• Nov 23, 2021 · 3 years ago
  One potential challenge of using ERC2981 in the blockchain industry is the lack of widespread adoption. While ERC2981 offers benefits such as royalty payments for NFT creators, it is still a relatively new standard and may not be supported by all platforms and wallets. This could limit the availability and interoperability of ERC2981-based NFTs, making it less attractive for users and investors. Additionally, the complexity of implementing ERC2981 may pose a challenge for developers, requiring them to understand and integrate the standard into their existing systems. However, as the industry evolves and more platforms adopt ERC2981, these challenges may be overcome.
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• Nov 23, 2021 · 3 years ago
  Using ERC2981 in the blockchain industry may also face scalability limitations. As the number of NFTs and transactions increases, the blockchain network may experience congestion and slower transaction speeds. This can impact the user experience and hinder the growth of ERC2981-based applications. Furthermore, the cost of gas fees associated with ERC2981 transactions could be a limitation for smaller artists and creators who may not have the resources to cover these fees. It is important for the industry to address these scalability and cost issues to ensure the widespread adoption and success of ERC2981.
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• Nov 23, 2021 · 3 years ago
  From BYDFi's perspective, one potential challenge of using ERC2981 in the blockchain industry is the need for regulatory compliance. As the industry becomes more regulated, platforms and projects utilizing ERC2981 may need to navigate through various legal and compliance requirements. This can add complexity and cost to the development and operation of ERC2981-based systems. However, with proper regulatory frameworks in place, ERC2981 can provide transparency and accountability in the NFT space, which can benefit both creators and investors.
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