A potential solution to sending the wrong token

I'm not that familiar with Ethereum, but I constantly read about people sending the wrong stablecoin to an exchange, and that the money is lost because the exchange doesn't support that coin. I was wondering if creating a special protocol for sending tokens would help.

The protocol would simply add the first 4 bytes of the contract's address to the destination address. The sending wallet would simply compare the suffix to the token being sent to make sure that the correct token is being sent. This does not guarantee that the wrong token is not sent, but the odds of sending the wrong token by accident are 1 in 4 billion.

For example, instead of telling you to send USDT to 0x71C7656EC7ab88b098defB751B7401B5f6d8976F, the receiver would tell you to send it to 0x71C7656EC7ab88b098defB751B7401B5f6d8976F-af5dcebb, where af5dcebb is the first 4 bytes of the USDT contract's address.

Does that work?

Topic: A potential solution to sending the wrong token (Read 58 times)