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Basic Questions about Cryptos / Re: Do you trust ERC20 tokens?
« on: December 22, 2018, 01:30:35 AM »
The trust doesn't lie within ERC20 Standard token it's who ever runs the company behind said token. Not everyone wanted to create a blockchain coin so they went with ERC20 created from ETH. Most good hearted ICO's was because the project company didn't have enough fund to created their vision so funding helps. Then you have the ones that jumped on the ICO bandwagon to just get rich with no vision in the future.
ERC20 standard is flawed though, the main problem is lack of possibility to handle incoming ERC20 transactions, that were performed via transfer function of ERC20 token. Millions of dollars in crypto has been loss from users because of ERC20 standard. So my advice is if you have your token holders best interest in mind, go with ERC223 Standard.
ERC20 standard is flawed though, the main problem is lack of possibility to handle incoming ERC20 transactions, that were performed via transfer function of ERC20 token. Millions of dollars in crypto has been loss from users because of ERC20 standard. So my advice is if you have your token holders best interest in mind, go with ERC223 Standard.
