“…However, the exact OER mechanism of these catalysts as well as the exact roles of core–shell encapsulation, Fe doping in the core, and N doping in the NC shell are still unclear. Even the exact location of the OER active site is still under debate between the core ,− ,,,, and the shell. ,,,,, Since the OER activity is completely lost with the NC shells alone (e.g., after washing away core metals by acids), ,,,,,, the role of the NC shell may be simply to enhance the electrical conductivity between the active core nanoparticles , or to protect the active metal cores from excessive oxidation, dissolution, or agglomeration by exposing only an optimum amount of active sites on the core surfaces to harsh electrolytes. ,,, The NC shell may also indirectly alter the electronic structure of the active site on the enclosed core or promote their binding to key intermediates . On the other hand, the NC shells, after electron penetration or metal atom (M) dispersion (as M–N–C bridges) from the metal cores, can also actively participate in the key OER steps, serving as the active site. ,,,− ,, …”