ERC223

The Gold Standard for ETH transactions. Highly secure and gas-efficient, developed by Security Engineers. Prevents user mistakes and accidental loss of funds.

[ERC223 @erc_223]

ERC-223 Token Standard | https://t.co/YfcaZqcyKc

https://t.co/vdhH1vfCo4

[Dexaran @Dexaran]

ERC-20 is insecure by design.

It violates two of the most basic security principles:

- Error handling is a must (there is no transaction handling which makes error handling impossible)
- Secure defaults

Whom to blame? - Every security researcher/auditor who didn't write that ERC-20 is an insecure standard.

What are they even doing if they don't expose violations of the most basic security principles while pretending to be security experts?

If you design a piece of software and it violates 2 out of 8 most basic security principles guess what? - People lose money.

I've outlined it many times and even designed an alternative ERC-223 standard in 2017 to solve these problems and eliminate the need for approvals completely:

https://t.co/s41XbLnIkm

https://t.co/21ZXLwVYMh

I've highlighted that ERC-20 design will inevitebly result in a loss of funds back during its finalization process https://t.co/FhNvUHEEKs

There were less than $20K at that momen. This problem report was ignored for 8 years and now there are more than $100,000,000 lost because of the lack of error handling and billions lost because of approval-related problems: https://t.co/rnuaMcNC86

Regarding approvals in ERC-20 standard (https://t.co/I1Mcdo5I4y):

- The standard was proposed in 2015, there was 1024-call-stack-depth bug in EVM.
- Approve & transferFrom pattern was introduced to make tokens unaffected by this bug. It was not a smart design, it was a weird quirk to bypass bugs of EVM.
- 1024-call-stack depth bug was fixed in 2016 and rendered approvals unnecessary.
- In 2017 I proposed ERC-223 token standard which eliminates approvals completely.

Hello @OpenZeppelin how about adding a warning about the problems of ERC-20 just as I suggested 3 years ago https://t.co/IRtVFvtNOy?

Hello @TheSecureum @ChainSafeth how about writing an article to expose that ERC-20 violates well-known security principles, it is known for 8 years and people keep losing money because of that?

Hello @_SamWilsn_ how about allowing security problems to be written directly to the texts of EIPs under "SECURITY CONSIDERATIONS" section to avoid obscuring the most egregious security violations like this one: https://t.co/yZSwFAJcf5? I know EIP editors don't want to judge whether something is a security flaw or not but may be we can warn people about the most obvious design flaws that result in financil losses and avoid a situation when it is known for 8 years and people keep losing money next time?

[Beosin 🛡 Web3 Security & Compliance @Beosin_com]

1/ Beosin has released an insightful analysis of ERC-223 and @Dex_223 to help builders understand ERC-223 and its applications. #ERC223

🧵Here is an easy-to-undertand thread of it:

[DEX223 @Dex_223]

$ETH Pectra Update: Game-Changer or Hype?

EIP7702 brings Account Abstraction, but does it fix the ERC20 problem? ❌ Nope.

🔹 ERC223 still leads in security & efficiency
🔹 EIP7702 adds complexity, not solutions
🔹 Lost tokens? Still a risk.

Read more: https://t.co/HPpCAYPK5d

[ERC223 @erc_223]

The Future of $ETH Token Standards: Dexaran’s Bet on ERC-223

By safeguarding against token loss, enhancing efficiency, and fortifying security measures, ERC-223 emerges as a compelling candidate to redefine Ethereum’s token landscape.

Read more: https://t.co/LjwHqJilFv

[DEX223 @Dex_223]

Big news for #DeFi!

The #ERC223 version of #USDT has been created, bringing gas-efficient and safer token transfers to life.

📃 Smart Contract: https://t.co/3C9Sm8kyqc

Say hello to a better standard, soon tradable on #BitMart 🚀

#ERC223USDT #Dex223

[DEX223 @Dex_223]

🌐#Devcon7 in Thailand brought sunny discussions but also highlighted shadows. #Dex223’s team raised ignored vulnerabilities in ERC-20, pushing for proactive solutions and accountability in the ecosystem.

🔗Dive into Toto Bugleman's commentary: https://t.co/eHVv6b4FfR

#ERC223

[DEX223 @Dex_223]

$115 Millions lost due to ERC-20 flaws, yet questions about its security are CENSORED at #Devcon2024, see for yourself:

https://t.co/mvvnqvftRV

Ignoring issues & blaming users isn’t a solution and puts user funds at risk. Let's embrace the solution: #ERC223 on #Dex223 🚀

[DEX223 @Dex_223]

Pleased to see also @hackernoon publishing @Dexaran's thorough analysis of the recent $26M token loss. 🔥

He sheds light on the substantial impacts of ERC-20, the role of auditors, and the need for enhancements in the EIP process.

Essential reading:
https://t.co/twnMGTAfFS

[DEX223 @Dex_223]

🚀 A must-read on #Coinmonks!
🔥 Highlighting a critical issue: users losing money due to flawed token standards. Mass adoption needs safer systems—let’s make it happen!

📖 Read, ❤️ Like, 🔄 Share to drive change for a secure crypto future! 🌍 #ERC223

https://t.co/zb6fENrU8V

[DEX223 @Dex_223]

$25M lost, blamed on "user error"? 🤔 This isn’t about human mistakes—it’s systemic insecurity in token standards like ERC-20.

Let’s hold standards accountable and fix the problem with #ERC223

🚨 Read more:
https://t.co/7xPYi9kUHu

[Dexaran @Dexaran]

A user @qklpjeth just lost $25,000,000 because of a #ERC20 security flaw that I discovered and reported in 2017.

https://t.co/Sz8qU1pNrd

#ERC20 is an insecure standard. It lack transaction handling which makes error handling impossible.

#ethereum @ethereum

[Dexaran @Dexaran]

@qklpjeth This is not your fault, but a security flaw in the #ERC20 standard that I reported to Ethereum Foundation in 2017

https://t.co/Sz8qU1pNrd

They didn't fix it

This is a known problem that I highlighted 7 years ago. They are aware of it. They keep advertising ERC-20 knowing that

[ERC223 @erc_223]

#Ethereum Tokens: $ETH ERC 20 vs. ERC 223 vs. ERC 777

In the world of #ETH tokens, #ERC20, #ERC223, and #ERC777 are often compared as competing standards.

Read more: https://t.co/HJrTFYEKwY

[DEX223 @Dex_223]

Join us LIVE on X for our Monthly #Dex223 Recap! 🔥

Get the news about ⬇️

⚙️ Prototype Testing
⤴️ Margin Trading UI
⚡️ Auto-Listing Feature
🗿 ERC-223 re-added to #Ethereum documentation

❔LIVE Q & A

Set your reminders for:
⏰June 26th, 3 PM UTC

🏠https://t.co/Se7mVoBmNE

[DEX223 @Dex_223]

3️⃣🎉 After overcoming significant resistance, we've successfully reinstated #ERC223 in https://t.co/c9kKsT4OC9's documentation 🚀
This isn’t just a victory. It marks the dawn of a new chapter!

ERC-223 is set to redefine the token landscape. Let’s innovate #Ethereum together 🤝

[DEX223 @Dex_223]

4️⃣ Big News! Our final pull requests have been accepted! The Ethereum Foundation warns about ERC-20 and re-adds ERC-223 to its documentation! 🔥

https://t.co/c4JMCRVLBE

https://t.co/BisrYNyUFV

https://t.co/l8Phvkw7Pc

Test our prototype and grab some D223 while you can!

All about the ICO, here: https://t.co/yPy4CLnQxs

🔚 End of Thread 🔚