So I was thinking a lot about what exactly should the perfect token standard look like, and now I’m finally ready to declare my opinion on this subject. I thought, it might be more appropriate to share it here and not on the sailfish’s github repo.
In short, I believe that we should reject ERCs and come up with something extremely basic, to only support basic operations and to give an ability to extend the implementation from the outside.
Short prelude. Why do people even need application-level standards like ERC? The main answer is interoperability. Since wallets are off-chain entities on Ethereum, the community came up with this idea to make a standard so any wallet which understands this standard could work with any token which implements the standard.
Is this good? Well, yes, I think. But these guys were limited by the technology and the mindset of their time, and this, in my opinion, made their token standards bad. I want to start a discussion on that topic and to propose an alternative solution which, I believe, could bring another level of value to the system than classic ERCs.