Topic: What is the difference between ERC20 and ERC23? (Read 306 times)

There are no low and high fees between ERC233 and ERC20 complaints. Because the result of how many fees for every transaction will depend on the gas calculation which already put by the sender. And how many gas price will be used by the transaction to complete the validation from the miners. You are speaking non-sense thing.

There is not much of a difference between the ERC 20 or ERC 23 coins in the market. Both  are based on the Ethereum blockchain network limiting coins to their potential, both transactions between the addresses are seen in the ERC20 and ERC 23 coins but there are a few differences, for example, the ERC 20 coin cannot deposit in either contract and the ERC 23 coin can only be sent to other ERC 23 coins deposits or contracts

Fees is low in Erc 23 in Erc 20 its high.

Both are same but its upgrading from old to new.

Just like car model

Main difference which ever cryptousers must know is that in ERC20

when any fund is lost while transferring then it will never recover But in ERC23 it can be recovered.
ERC20 HAVE high fees ERC23 Have  low Gas fees
TOKEN transfer in ERC20 is 2 step whereas in ERC23 IT IS 1 setup

The difference between ERC 20  & ERC 23 coins is very minute. The ERC 20 coin is a coin already in existence and used as the standard in Ethereum tokens where is the ERC 23 is an updated version of the previous coin able to handle a network of greater nodes and sustainable on economies of scale.

See below the difference between both token standards. its always advisable you do your own research as that would help you to know what to do and be independent.


3 Primary improvements with ERC223

    Eliminates the problem of lost tokens which happens during the transfer of ERC20 tokens to a contract (when people mistakenly use the instructions for sending tokens to a wallet). ERC223 allows users to send their tokens to either wallet or contract with the same function transfer, thereby eliminating the potential for confusion and lost tokens.
    Allows developers to handle incoming token transactions, and reject non-supported tokens (not possible with ERC20)
    Energy savings. The transfer of ERC223 tokens to a contract is a one step process rather than 2 step process (for ERC20), and this means 2 times less gas and no extra blockchain bloating.

Switching from ERC20 to ERC223

    ERC223 tokens are backwards compatible with ERC20 tokens. It means that ERC223 supports every ERC20 functionality and contracts or services working with ERC20 tokens will work with ERC223 tokens correctly.




I hope this helps you.


Problems of ERC20 that ERC223 will solve:

    Impossibility of handling incoming transactions in receiver contract.
    Tokens could be sent to contract that is not designed to work with tokens without handling and potentially could be lost. At least $72000 are lost at the moment. This problem is described here.
    Token-transactions should match Ethereum ideology of uniformity. When a user needs to transfer his funds, he must always perform transfer. Doesn't matter is user depositing in contract or sending to an externally owned account.

ERC223 token transaction costs 2 times less than approve then transferFrom of original ERC20.

The difference between ERC 20  & ERC 23 coins is very minute. The ERC 20 coin is a coin already in existence and used as the standard in Ethereum tokens where is the ERC 23 is an updated version of the previous coin. Able to handle a network of greater nodes and sustainable on economies of scale.

ERC20 is a time when smartcontract on the ethereum network is applied,
ERC23 is a Ethereal Token, Token Pay to Service. This is a decentralized platform that collects information, events and news about tokens (CRYPTOKENS).

ERC23 are the upgraded version of ER20 tokens of ethereuplatform,erc23 tokens requires less fee than erc20 tokens but it seems the developers hasnt been using it because most of the altcoins today are using erc20 tokens which is unaacceptable because the fee is less than the fee of erc20 tokens and it only means the miners wont benefit from the erc23 tokens that is why most of the developers prefer to use erc20 tokens over the upgraded version.

I should think, both of you are copy pasting the existing blog about the differences (comparison) between ERC20 standard token and ERC23. Without mentioning the sources of that article.
The only significant improvement on ERC23 to the fixed bug on the previous ERC20 token compliance.
But the majority of exchange sites are still using ERC20 token standard as their service,

according to the knowledge I read and according to the conclusions I read ERC20 and ERC23 have no difference they still remain the same, ERC23 only refinement of ERC20 only and function of its use is still the same.

ERC23 is improved version of ERC20 tokens,with less required fees but i dont think ERC23 are going to replace erc20 tokens because most the developers are using erc20 over er23 tokens in their new projects.

In fact transfer of ERC20 tokens between address and contract is a pair of two different transactions while transfer of ERC23 tokens is a single transaction. ERC20 tokens transfer to contract fires Approval event on token contract and then fires Transfer event on contract receiving tokens. ERC23 tokens transfer fires only Transfer event and can prevent extra blockchain bloating as every event is stored in blockchain.

Are there similar protocols for tokens built on top of NEO/EOS or other similar platforms?

Useful information, don't always keep track of all the news of the crypto currency, I have only worked with ERC 20

Thank you for your time to explaining to me.
I appreciate it. Now I understands! Thanks a bunch

The difference between ERC20 and ERC23. ERC20 is already existing token standard used by ethereum tokens. ERC23 is a new version of token standard.
1.Eliminates the problem of lost tokens which happens during the transfer of ERC20 tokens to a contract (when people mistakenly use the instructions for sending tokens to a wallet). ERC223 allows users to send their tokens to either wallet or contract with the same function transfer, thereby eliminating the potential for confusion and lost tokens.
2. Allows developers to handle incoming token transactions, and reject non-supported tokens (not possible with ERC20)
3. Energy savings. The transfer of ERC223 tokens to a contract is a one step process rather than 2 step process (for ERC20), and this means 2 times less gas and no extra blockchain bloating.

Maybe this can help you .
3 Primary improvements with ERC223:

(1) Eliminates the problem of lost tokens which happens during the transfer of ERC20 tokens to a contract (when people mistakenly use the instructions for sending tokens to a wallet). ERC223 allows users to send their tokens to either wallet or contract with the same function transfer, thereby eliminating the potential for confusion and lost tokens.

(2) Allows developers to handle incoming token transactions, and reject non-supported tokens (not possible with ERC20)

(3) Energy savings. The transfer of ERC223 tokens to a contract is a one step process rather than 2 step process (for ERC20), and this means 2 times less gas and no extra blockchain bloating.

Switching from ERC20 to ERC223

"ERC23 tokens are backwards compatible with ERC20 tokens. It means that ERC23 supports every ERC20 functions and contracts or services working with ERC20 tokens will work with ERC23 tokens correctly."

Oh. I am sorry. I am new to this forum. So I dont know which main topic that I have to post for my question.
Anyways thank you for your help!

You should have posted this topic in Altcoin Discussion thread as we are discussing about eth and it's tokens.
Anyways In simple terms ERC20 are standard set of rules a smart contract or token should satisfy. These set of rules will define how the token will function in the blockchain of ethereum. ERC20 are most commonly used by all the altcoin developers for developing their new coin. Whereas ERC23 are new set of rules or can be said as an upgrade to ERC20 standards which was implemented in early 2017.  The main difference is that the transaction costs of ERC23 is lesser than ERC20 tokens and in the future these will overtake ERC20 contracts. Hope this helps.