Miami, FL/ March 3rd, 2023. Sanctum Invicta kicks things off with a bang as we take our marketing to the next gear. We have plenty of news and announcements.
Cryptocurrency Market News
The Ethereum blockchain has deployed a new blockchain standard, ERC-4337 commonly known as “account abstraction”. This update tackles a lot of wallet-related issues, especially with regard to private keys.
The key features include enabling users to recover lost private keys. Moreover, users can secure their account with 2FA or biometrics potentially turning any smartphone into a hard wallet, while also removing the need for storing seed phrases. It also makes it possible to set spending limits. This innovation provides several benefits including:
- Enabling 2FA Authentication, removing the need for seed phrases
- Turning smartphones into Hard wallets
- Setting spending limits
- Simplifies user onboarding experience
- Turns many transactions into a single click by bundling them
This feature will be available across all EVM-compatible networks such as Polygon, Arbitrum, Fantom, or Optimism networks.
What are Token Standards
Token standards are a set of rules that can create tokens compatible with Ethereum applications, like wallets and exchanges. Each standard has its own set of rules on how the tokens can be used and managed.
ERC-20: This is the standard that creates cryptocurrency tokens. These tokens are fungible which means that they’re interchangeable, similar to how you can exchange $1 for $1, there’s no distinction.
Examples include Chainlink, Apecoin, or the Uniswap token.
ERC-721: This token standard is what creates non-fungible tokens (NFTs). The key is these tokens are all different and unique with a unique identifier. This is similar to real estate. Even if two houses look the same, they have different addresses and keys that correspond to unique owners. These have been used to represent unique assets such as digital art, collectibles, or real estate.
Examples include Bored Ape Yacht Club or Azuki.
ERC-1155: This standard allows the creation of both fungible and non-fungible tokens with a single smart contract, making it more efficient and cost-effective as opposed to managing multiple types of tokens. A good example is in-game assets and items because players earn both crypto rewards as well as special collectibles. This is popular in many Metaverses.
Examples of ERC1155 include Enjin, the Sandbox, or Decentraland.
At Sanctum Invicta, we aim to simplify web3 and make it as user-friendly as web2 by integrating blockchain applications seamlessly. With the deployment of the ERC4337 update, we are one step closer to achieving our goal of creating a digital wallet with advanced features beyond simple custody and portfolio tracking, to be integrated into our ecosystem. To ensure a top-notch user experience, we have partnered with leading companies in design, coding, and implementation.
As we move forward, our first priority is to establish a solid legal foundation to support our roadmap, following which we will focus on development. This involves gathering market intelligence, laying a technical framework, and designing an intuitive user experience for our product. We will then proceed with coding, testing, and quality assurance before launching the product to the public.
Early investors and adopters of Sanctum Invicta will be granted unlimited access to all the products we plan to develop through our ecosystem, upon joining the Sanctum Council.
Sanctum Invicta Updates
- Pitch Deck is going through a few design changes but should be released next week
- We’re hosting an online NFT workshop in March to get people acquainted with NFTs
- AMA’s are in the process of being adapted so people can view them on youtube and we’ll host a summary here on the website
- Website has added multi-language support
- Telegram has a new layout
Our top priority for the next month is to build our community and go more in-depth with our roadmap. Our upcoming AMAs, content, and announcements will focus on detailing different aspects of our project
- Join the Waitlist – Our email newsletter is the most effective and direct way to stay up to date with the latest news and announcements.
- Bookmark the Website – all our official news lies here, not on social media
- Join our Socials – you can still engage with the Sanctum Invicta team on our socials
Behold the Vanguard’s light, the unwavering protectors of the Sanctum who will lead the path forward to Zion.
Sanctum Invicta Team