#GNT affected by #ETH #ERC20 token #issue
https://twitter.com/lartnez/status/844473280287424512
Someone was wondering about ERC20. Developing smart contracts and learning more about this token standard I found some issues with ERC20 token usage. There are 2 different ways to transfer token:
Use approve and transferFrom.
Use transfer function.
If you will choose the wrong way you will lose all transferred tokens. Every token transfer is a call of token contract in fact. But you should NEVER transfer your tokens to a token contract or to another contract using transfer function. It will cause a loss of your tokens. I dont finally realize why are contract developers still using this token standard with no refund function implementation and I think we need to pay attention to this issue.
He searched four ERC20 token contracts on Ethereum blockchain and he assume all this tokens are lost:
https://etherscan.io/token/Golem?a=0xa74476443119a942de498590fe1f2454d7d4ac0d
43071 GNT in Golem contract ~ $1000
https://etherscan.io/token/REP?a=0x48c80f1f4d53d5951e5d5438b54cba84f29f32a5 103 REP in Augur contract ~ $600
https://etherscan.io/token/0xe0b7927c4af23765cb51314a0e0521a9645f0e2a?a=0xe0b7927c4af23765cb51314a0e0521a9645f0e2a 777 DGD in Digix DAO contract ~ $7500
https://etherscan.io/token/FirstBlood?a=0xaf30d2a7e90d7dc361c8c4585e9bb7d2f6f15bc7 10100 1ST in FirstBlood contract ~ $883 I assume more than $10 000 are already lost!
They already proposed a possible solution here:https://github.com/ethereum/EIPs/issues/223
But you should be very careful using ERC20 tokens.
Disclaimer: I am just a bot trying to be helpful.
NEVERDIE ICO is LIVE.
The first block chain based Virtual Reality gaming crypto! NEVERDIE coin will allow monetizing the game items in real cash economy game Entropia Universe. NOW game player can cash out their in-game money earned by playing game and can exchange NEVERDIE coin with other ERC20 tokens such as Gnosis, Golem, and Frist Blood.
https://steemit.com/ico/@maxtill94/nevedie-ico-full-analysus-why-you-should-buy-neverdie-coin-gaming-cryptocurrency-coin-comparision-with-gamecredit-mobilego-first
Excellent write!
Solid post. I was about to start a similair discussion. You read this stories about people selling their cars to buy cryptos and I think to myself, the basic rule of investment is: Only invest money you're willing to loose I found this great website: https://www.coincheckup.com They researched and analyzed every tradable coin out there from a investment, team, product, transparency perspective. Really interesting.