Does this new standard correct the exploit on the ERC20?
Anyway my question got answered by what happened with MoneroGold. They, the devs, can create as many tokens as they want to even with a closed distribution...
Looking forward for a truly trustless standard.
Topic: Question about new ERC20 token smart contract (Read 120 times)
Hi all, I hope someone can answer my question.
I got this new token very cheap in etherdelta (I wont mention the name to not to create FUD for the moment).
The thing is when you read the smart contract it says the following:
7. distributionFinished False bool
I was concerned about this and asked the Dev why he hasn't yet closed the distribution, the final amount of token. He answered that the contract was already made and the total amount of token could not be changed. He will be finishing the distribution in a couple of months when the ICO/airdrop ends.
Is this true? Because my understanding is that as long as the distribution is not finished (Changes from false to true) the Dev can create as many tokens as he wants and potentially scam the investors.
Or, is it normal to not to finish the smart contract until the end of the ICO/airdrop?
Thanks.
I got this new token very cheap in etherdelta (I wont mention the name to not to create FUD for the moment).
The thing is when you read the smart contract it says the following:
7. distributionFinished False bool
I was concerned about this and asked the Dev why he hasn't yet closed the distribution, the final amount of token. He answered that the contract was already made and the total amount of token could not be changed. He will be finishing the distribution in a couple of months when the ICO/airdrop ends.
Is this true? Because my understanding is that as long as the distribution is not finished (Changes from false to true) the Dev can create as many tokens as he wants and potentially scam the investors.
Or, is it normal to not to finish the smart contract until the end of the ICO/airdrop?
Thanks.
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