ERC-6147: Introducing the Guard role to achieve NFT property separation, enhancing security and application potential.

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ERC-6147: Implementation and Application of Semi-Mandatory NFT Property Separation Standard

The Ethereum Improvement Proposal ERC-6147 was officially passed on March 7, 2023, becoming the final version. This standard is an extension of ERC-721, achieving the separation of ownership and transfer rights for NFTs and SBTs, and introduces a new "guardian" (Guard) role. This innovation provides greater flexibility for the anti-theft, lending, leasing of NFTs, and the application of SBTs.

Interpretation of the latest Final ERC-6147: A minimalist semi-mandatory NFT ownership separation standard

Background: The Liquidity Dilemma of NFTs

The main disadvantage of NFTs is the lack of liquidity. This issue arises not only from the NFT protocols themselves, but more importantly, from how to give NFTs actual utility, rather than just relying on market operations. Currently, a key factor affecting the utility of NFTs is the limitations of the NFT protocols themselves.

The issue of property coupling.

The main challenges facing NFTs currently include:

  1. Security Issues: High-value NFTs often need to be stored in cold wallets, which affects convenience of use.

  2. Lending Restrictions: NFT owners often lose the right to use the NFT during the lending period.

  3. Limitations of SBT: SBTs bound to Ethereum addresses are difficult to recover when the private key is lost.

the limitations of the current property separation scheme

Previous schemes such as ERC-4907 and ERC-5058 faced difficulties in controlling the degree of enforceability when implementing property rights separation.

  • ERC-4907 adopts a simple philosophy, relying on consensus after defining the vision, but lacks enforcement.
  • ERC-5058 adopts a zero-trust philosophy, implementing mandatory locking through code, but the operational costs are relatively high.

ERC-6147 serves as a compromise solution, providing a semi-mandatory NFT ownership separation standard.

Interpretation of the latest Final ERC-6147: A minimalist semi-mandatory NFT property separation standard

The Operating Mechanism of ERC-6147

Definition and Control of the Guard Role

ERC-6147 defines the Guard( guardian role, which can only be set by the current owner of the NFT or an authorized address. The Guard information includes the address and expiration time, which can be queried through the guardInfo method. Only the Guard themselves or the expiration time can remove the Guard identity.

![Interpretation of the latest Final ERC-6147: A minimalist semi-mandatory NFT property separation standard])https://img-cdn.gateio.im/webp-social/moments-defb8f4e51869ee996ce467b7fde5ea0.webp(

) Guard's permissions and limitations

  1. The Guard has the authority to enforce transfers, and only the Guard can transfer the NFT that has been set with the Guard.

  2. The original NFT holder retains the holding rights but loses the transfer rights.

  3. The Guard can use the transferAndRemove method to clear the Guard information after transferring the NFT.

  4. Guard cannot set up automatic deduction authorization, nor can it set a new Approve.

![Interpretation of the latest Final ERC-6147: A Minimal Semi-Mandatory NFT Property Separation Standard]###https://img-cdn.gateio.im/webp-social/moments-8e992e191f2263857a2c65baade8a108.webp(

Advantages and Use Cases of ERC-6147

Compared to ERC-4907, ERC-6147 has better compatibility:

  1. There is no requirement for the project to actively support the new role; it only needs to recognize the owner.

  2. Applicable to most existing application protocols that only recognize the owner.

  3. Introduced the concepts of "manageable SBT" and "effective SBT", balancing non-transferability with management needs.

ERC-6147 brings more application possibilities for NFT:

  • Anti-theft: NFTs can be transferred from a stolen hot wallet to a secure address.
  • Leasing: Guard can transfer the NFT to a new lease address.
  • SBT Social Recovery: SBT can be transferred to a new address without affecting its non-transferable characteristics.

As the application of NFT continues to expand in areas such as social relationships, gaming assets, and content creation, standards like ERC-6147 will bring more innovative possibilities to the NFT ecosystem, promoting the development of NFT from purely financial attributes to a broader range of practical application scenarios.

![Interpretation of the latest Final ERC-6147: A minimalist semi-mandatory NFT property separation standard])https://img-cdn.gateio.im/webp-social/moments-bfff8d0061eaaf89e711e7ade2cf99a6.webp(

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Rugman_Walkingvip
· 07-15 16:59
Is this thing reliable? It seems a bit high-risk to me.
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AllTalkLongTradervip
· 07-15 13:59
This wave of favourable information is about NFT, right?
View OriginalReply0
ForkPrincevip
· 07-13 01:29
Looking forward to the application landing ah 666
View OriginalReply0
GateUser-00be86fcvip
· 07-13 01:29
My wallet is almost empty...
View OriginalReply0
WenMoon42vip
· 07-13 01:29
It's like trying for nothing.
View OriginalReply0
zkProofInThePuddingvip
· 07-13 01:01
This is too awesome, we're saved!
View OriginalReply0
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