Ethereum New Token Standard, Will This Reduce ETH Supply?
Insights into ERC-223 Standard and Implications The initial proposal for the EIP-223 protocol was submitted for approval back in March this year and the importance of this standard hinges on correcting the flaws of earlier standards. The preceding ERC-20 standard has a number of known flaws including the loss of tokens in contracts that are not designed to interact with sent tokens and this is one major error that the ERC-223 is set to address. advertisement Riding on its architecture, the ERC-223 standard is designed as a subset of ERC-20. As described by the Callisto Network; “It is a step forward towards economic abstraction at the application/contract level, allowing the use of tokens as first-class value transfer assets in the development of smart contracts.” Unlike the ERC-20, the new token standard is billed a “more secure standard, as it does not allow token transfers to contracts that do not explicitly support token reception....