Cryptocurrency Q&A What is the problem with ERC20?

What is the problem with ERC20?

Michele Michele Tue Nov 05 2024 | 7 answers 1793
I've been hearing some issues regarding ERC20, and I'm curious to know what the main problem is with this Ethereum token standard. Could someone explain it to me? What is the problem with ERC20?

7 answers

SsangyongSpiritedStrength SsangyongSpiritedStrength Thu Nov 07 2024
Smart Contract Vulnerabilities pose significant risks in the world of cryptocurrency.

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Elena Elena Wed Nov 06 2024
In a reentrancy attack, a contract calls itself recursively, creating a loop that can be abused by an attacker.

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Valentina Valentina Wed Nov 06 2024
This vulnerability allows the attacker to drain funds from the contract, causing significant financial losses to its users.

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KatanaGlory KatanaGlory Wed Nov 06 2024
ERC-20 tokens, which are widely used in the Ethereum ecosystem, rely heavily on smart contracts for their operation.

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HallyuHeroLegendaryStarShine HallyuHeroLegendaryStarShine Wed Nov 06 2024
These contracts, while powerful and versatile, are not infallible and can harbor vulnerabilities that can be exploited by malicious actors.

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