Top Ethereum Token Protocols Which May Replace ERC20
Today, anyone can create a smart contract based on the Ethereum blockchain and release their own tokens. Until recently, the implementation of a particular coin was entirely entrusted to the developer of that coin, and it had rather an experimental nature often accompanied by a number of related problems - including the freezing of investors' funds, hacking of contracts or unpredictable network operation.
In this ‘Wild West’ atmosphere, new Ethereum protocols are being created - which are designed to correct the errors of previous versions. Perhaps one of them will replace the ERC20 by the end of the year, making working with the blockchain even more reliable and simple for users.
ERC20: The king of dApps
User friendly logics and simplified structure turned Ethereum into a highly demanded framework, with almost 83 percent of projects choosing the Ethereum blockchain for the underlying structure.
More than a dozen major tokens are based on ERC20 standard, and around 400 new coins are issued every day. While these figures may sound unreal, the Coinmarketcap rating and the Ethereum Tokens Chart demonstrate that the total market capitalization of such tokens is around $52.6 bln. Furthermore, this process seems to be totally uncontrolled since no legislation exists to regulate the frequency or initiator of the issue.