Do Investors Know? Ethereum Has Created a New Token Standard!

<p>&nbsp;“Will ERC-22 cause the supply of ETH to decrease?”</p><p><br /></p><p>The Ethereum (ETH) blockchain is growing as a new token standard dubbed ERC-223 has made its way to the ETH Documentation.</p><p><br /></p><p>The EIP-223 protocol is intended to correct the shortcomings of the previous standard, ERC-20, which has some shortcomings such as the loss of tokens in contracts not designed to interact with tokens sent.</p><p><br /></p><p>It is well known that the ERC-223 standard designed as a subset of ERC-20 will allow the use of tokens to become a first-class value transfer asset in the development of smart contracts.</p><p><br /></p><p><br /></p><p>Unlike ERC-20, ERC-223 is found to be more secure as it allows the transfer of tokens to contracts that do not explicitly support token acceptance.</p><p><br /></p><p>The new standard will also encourage widespread adoption as new functionality will now be enabled on the ETH blockchain and since ERC-223 maintains its standard, tokens connected to the ETH blockchain from other protocols will also be able to work.</p><p><br /></p><p>As such, the supply of ETH will not be affected by the launch of this new standard and most of the alternative protocols are thriving with the ETH Network's inability in several key areas of blockchain operations.</p><p><br /></p><p>Earlier, ETH transitioned from Proof-of-Work (PoW) to Proof-of-Stake (PoS) through The Merge event which went live next year.</p><p><br /></p><p>As of this writing, ETH price is up 0.35% at $1,955 in the last 24 hours with a market cap of $235 billion and has gained around 4.66% over the last week.</p>