A wise man once said it’s the unknown unknowns that crash markets. So how would an unexpected hard fork recreating the code affect the current landscape of Erc20 Tokens in the ICO market? Will it be good, bad or indifferent?
Speculation of a sudden upgrade basically a code rewrite similar to the highly publicized DAO is rumored to be a possible outcome of the “accidental” delete of the code library that corresponds with a large well known ICOS wallets.
One possible solution
Some developers believe that the EIP is the solution.
So what is the EIP exactly?
According to GitHub the ethereum improvement protocol is as follows:
It is understood that there may be a risk that this proposal will be viewed controversially as it is in some sense a “rescue” rather than a “technical improvement” even though it is arguably much less intrusive than previous such proposals for the reasons outlined above; the proposal is created in order to allow community discussion and debate and does not signify full endorsement.
Other developers think the even with he deployment of EIP a Hard fork will still be necessary to unlock the funds.all that being said will this effect the standard Erc20 token.
Will this effect all the Dapps and other technical innovations built on the ethereum platform?
One possible positive alternative is it will make it more difficult to to create bogus or useless tokens and build bogus or useless Dapps on top of the ethereum network. As for the price of ether will there be any effect at all positive or negative?
Only time will tell the outcome but the author is confident that parity technologies and the Ethereum foundation will find he best solution to solve this complex issue and further continue innovation in this exciting blockchain technology!
This article is for informational purposes only and does not constitute any investment advice .
The author may hold Ether.