Cryptocurrency Q&A
What are the disadvantages of ERC-20?
What are the disadvantages of ERC-20?
Eleonora
Tue Jul 30 2024
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7 answers
1556
Can you elaborate on the drawbacks of ERC-20 tokens? Are there any specific issues with scalability, transaction speed, or compatibility that developers and users should be aware of? Additionally, are there any security concerns or limitations in terms of customization and innovation when utilizing ERC-20 as a standard for token creation? It would be helpful to understand the full picture of the potential disadvantages before deciding on adopting ERC-20 for a particular project.
7 answers
Raffaele
Thu Aug 01 2024
ERC-20 tokens, while offering a multitude of benefits, are not immune to certain risks and limitations.
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IncheonBeauty
Thu Aug 01 2024
These breaches can compromise the integrity of the ERC-20 tokens, leading to a loss of trust among users.
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SamsungShineBrightness
Thu Aug 01 2024
One primary concern revolves around security vulnerabilities. The intricate nature of ERC20 smart contracts leaves them prone to potential exploits.
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Chiara
Thu Aug 01 2024
Malicious actors constantly scan for weaknesses in these contracts, seeking to exploit them for their own gain.
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EmmaWatson
Thu Aug 01 2024
If successful, these attacks can lead to severe consequences, such as security breaches within the network.
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