Can we have erc20 token for ICO but built on own blockchain

Agozyen

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Quote from: 13abyknight on March 15, 2018, 04:50:05 AM

Quote from: shaunzy on March 15, 2018, 04:19:35 AM

For the ICO we issue erc20 tokens but which will be used later on the blockchain i created

ERC-20 is the standard token created on the Ethereum platform with the use of smart contracts. No, you cannot just create an ERC-20 token and move it to your own blockchain as it is governed by the Ethereum platform.
Your best bet would be to create your own, self-sufficient token on your own blockchain rather than trying to create tokens on blockchain platforms like Ethereum.

You could burn the coins or do a coin swap. That would be the only way to get the coins onto their own blockchain, but they would not be ERC20.

bosses

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Quote from: shaunzy on March 15, 2018, 04:19:35 AM

For the ICO we issue erc20 tokens but which will be used later on the blockchain i created

Many start on Ers 20 and then go to their blockchain, so there is nothing special.

suzanne5223

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Quote from: shaunzy on March 16, 2018, 12:47:29 AM

can you elaborate on the reason ur suggesting neo or nem over erc20

NEM is smart asset system based project i.e it will enable you to use it as a custom blockchain built to handle assets and it allow you to define and create your own tokens or cryptocurrency without programming. While, NEO is somehow the same but it enable digital assets/smart contracts and it can take almost 10,000 transactions per seconds. The 2 are best option for ICO owner who's planning to have their own block chain network.

shaunzy

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can you elaborate on the reason ur suggesting neo or nem over erc20

suzanne5223

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Quote from: shaunzy on March 15, 2018, 04:19:35 AM

For the ICO we issue erc20 tokens but which will be used later on the blockchain i created

Since you're going to have your own blockchain later. You don't need to issue any EEC20 token, I will you to fork Monero and create your token using NEO or NEM.

Fazlurkhan.kz

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Ethereum has outlined the ERC20 protocol for its tokens to follow. The ERC20 tokens usually don't have their own blockchain as the whole idea of the ethereums ERC20 tokens is to prevent time loss by creating a new blockchain and utilize it for improving your project.
But it is technically possible to transfer the ERC20 tokens from ethereum to another chain which will create an issue of ownership (which does have a solution).

shaunzy

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They did not mention about building on ethereum blockchain in the white paper
https://medicalchain.com/en/whitepaper/

Here it says they used ERC20 : https://icodrops.com/medicalchain/

They say something about dual blockchain which I am not aware about and I need an easy explanation for that

Blue Tyrant

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Quote from: shaunzy on March 15, 2018, 05:24:46 AM

I think medicalchain has done that?

Do you have a link to their announcement or maybe their whitepaper. That sounds interestingly suspicious

shaunzy

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I think medicalchain has done that?

13abyknight

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Quote from: shaunzy on March 15, 2018, 04:19:35 AM

For the ICO we issue erc20 tokens but which will be used later on the blockchain i created

ERC-20 is the standard token created on the Ethereum platform with the use of smart contracts. No, you cannot just create an ERC-20 token and move it to your own blockchain as it is governed by the Ethereum platform.
Your best bet would be to create your own, self-sufficient token on your own blockchain rather than trying to create tokens on blockchain platforms like Ethereum.

Blue Tyrant

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Quote from: shaunzy on March 15, 2018, 04:19:35 AM

For the ICO we issue erc20 tokens but which will be used later on the blockchain i created

Someone correct me if I'm wrong the entire point of having an ERC20 token is using the ETH blockchain instead of taking the effort to create your own. But then why would you want to use ERC20 on a completely different blockchain that you developed yourself? I'm not sure that would even work that way.

An alternative would be to do something like NEO where you fork the ETH blockchain by basing your code on the ETH blockchain and then you'll be able to make a similar system to ERC20 which runs on your own forked blockchain

shaunzy

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For the ICO we issue erc20 tokens but which will be used later on the blockchain i created

Topic: Can we have erc20 token for ICO but built on own blockchain (Read 154 times)