Response to Vitalik’s speech about ERC 23

Vitaliks’ original speech about ERC23 in Russian:

English variant:

  1. Users can lose their tokens in contracts and it often happens.
  2. There is no way to handle incoming token transactions.
  3. I like Ethereum’s ideology “similar things should have similar logic of code” but ERC20 transactions are not similar to Ether transactions.
  4. approve function is potentially vulnerable in current implementation. Read more here.
  1. Transfers value.
  2. Could be handled.
  3. Can execute functions in contract.
  4. Could be rejected if something goes wrong or executed function is not accepting payments.
  5. Can contain hex messages.
  6. There is no difference between “send transaction into contract” and “send transaction into wallet address” from users point of view.

Let me comment some moments.

  1. transferToAddress can become rudimentary.
  2. transferToContract will be executed every time someone is trying to send transaction to a wallet-contract that contains code.
  3. Wallet-contracts should implement ReceiverInterface to receive tokens.
  4. It may be a good idea to implement it by default like empty fallback function() payable { } that will allow to receive Ether.




Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Daima Token X OpenBiSea

Consensus 2018 Tech Trends

Community Update: LEV token migration

Transforming an Industry: Using Blockchain in Logistics

Blockchain in the Automotive & Mobility Industry: The Current State

6 Things You Didn’t Know about the Polaris Plus Teams (part two)


How to Swap TTT for EXP Using NFTAnywhere

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store


More from Medium

Maximus Capital Group Partnership Spotlight: Trinity Lab Accelerator

We are Tensai Finance.

Gamestate Partners with DeNet to implement their decentralized storage solution into the metaverse

Minting and Buying NFTs on Hic Et Nunc with AirGap (V2)