After digging through the whitepaper and position paper, I can’t find mention of a token contract standard that would be comparable to an ERC-20 token. I’d argue that the tokenization we’ve seen over the past 6 months on the Ethereum network is the best use case I’ve seen yet for blockchains. Is integrating and fostering a similar ecosystem on the roadmap for Tezos?
@murbard has stated that tokenization is possible (and probable) on Tezos, but not the focus of the core dev team, at least initially. A vision exists to have projects voted upon and funded by the community, and delivered as smart contracts and / or protocol upgrades for the benefit of the whole ecosystem.
Hi everybody !
I really hope there will not be any different token, I think it’s a bad thing, today with all tokens we are sometimes lost, so imagine for a person who isn’t familiar wiht the blockchain ecosystem. Without different token tezos will be a sure value and it’s better for the long term.
Ignoring and not incorporating a token ecosystem into the platform would be a missed opportunity.
Every single time I or anyone else browses the coinmarketcap asset list, it’s essentially free advertising for Ethereum.
Not to mention the actual projects themselves have the Ethereum logo plastered all over their websites and in discussions - and that’s just the exposure aspect. If I’m a dapp developer and I am picking a platform to build on, a big contributing factor to the platform I choose is the size and health of the entire ecosystem. Having the equivalent of the ENS registry and a token standard are just a couple reasons why Ethereum continues to grab market share in this evolving asset class. Even if people are creating new tokens as a money grab for their project, and the project may not actually need a token, that’s fine. But for some of the best projects a token is essential, and not only as a fundraising mechanism. If Tezos intends on actually being the last blockchain (and I hope it is), then this needs to be a priority.
For now they are. If the wind turns they can become a liability.
How is that fine, I don’t understand? I personally would not be thrilled to see any equivalents of ‘Useless Ethereum token’ ( https://coinmarketcap.com/assets/useless-ethereum-token/ ) or ‘FUCK’ token ( https://coinmarketcap.com/assets/fucktoken/ ). When people realize most of the ICO projects can’t deliver, tokens will become useless bottle caps.
Infact ethereum make some noise thanks to erc20 but the value isn’t diluted ?
Buterin himself said that it was not necessary to have another token.
And most important for a massive adoption the simplicity is always better. You can imagine a currency to put gas, another to buy food, then one for leisure. How much will the fiat money be worth?
I think it’s this is the bighest weakness and seriously complicates fluidity, to trade it’s cool but I will never use all these different currency for the daily.
I meant that people will find dumb or scammy ways to use any useful technology. That doesn’t change the fact that customized digital scarcity is genuinely useful to many projects. My favorite use cases are not the ones where a token acts as a currency but acts as an electronic stock certificate. Enabling companies to legally issue easily tradable shares in the crypto world is a step in the right direction and circumvents the existing stock market infrastructure in the process.
I get what you mean and i wonder why you are not clear to some of us
What added benefit does blockchain bring in this use case compared to existing stock market infrastructure? Do you think such tokenized stocks would be less regulated?
I don’t think there will be less regulation but there are entire industries of intermediaries that could become obsolete if we didn’t need them to buy, sell, hold, vote, or trade securities. I go a bit deeper on this topic in this article.
I’m not quite sure I understand how providing a token standard could be a liability for Tezos. The SEC didn’t target the Ethereum platform in the DAO report, it was entirely about the DAO.
I’ve never done so, but owners of publicly traded stock certificates can request Direct Registration - link to SEC.gov regulations on certificate custody choices
Let’s get this ability on the Tezos blockchain.
As Mr. Antonopoulos has said - a best way to educate investors is to - let them make errors
Sounds cruel, I know, calls for action. There are some people capable of taking a loan to participate in some faulty project - on the other hand it’s truth that nobody can protect someone from themself. Such people will find a way to harm their life. Yet - this is especially dangerous if they have a family which depends of this person. Is it possible to make an ideal world? Will anything solve all real world problems? Only possible protection as I see it is some kind of escrow or something like this. Something what would be necessity to even start an ICO campaign.
I guess there are reasons why you prefer Tezos over Ethereum? Because Tezos is different and simply better than Ethereum right? The only thing that Ethereum currently really does is producing tokens en masse. With this they foster the ICO/token bubble we currently see and even its founder (Vitalik) clearly criticizes. Why using a token on top of a platform that already has a token? Why not using the original token in the first place? I can tell you why: because all these ICO owners want one thing and only one thing: cash up as fast as possible. Do we really need another 1000 crypto currencies? Use Tezzies for everything, thats the way.
Well… it seems to me that we aren’t on the same level of technical knowledge - I’m evidently inferior - but still there is one thing with which I disagree with you. If we compare Ethereum protocol to some of level(s) from OSI model which in current configuration of the Internet we might translate to transport layer (TCP/UDP…) or even to internet layer (IP, ICMP…) then is quite normal to let others develop applications atop of that. Where will be today’s Internet if all there is are above mentioned base protocols? Even if one group of people, however big it could be, would develop these protocols further and write applications in some consensus among users I guess they wouldn’t manage to achieve such advancement. This isn’t feasible. I’m not sure that neither Tezos plan to do this thing in web 3.0?
There’s one important thing which one must not forget - masses. Masses and capital that enables the growth of everything. I thing that leaving to market decide which idea is the best is right thing to do. Today’s token are mostly the shitcoins (they like that coin in their name - it sounds better then a word token), but that doesn’t mean that this is the way that it will stay forever. It’s truth that most of their authors are there only for money, but people will get wiser after few errors.
Finally - a reason for me start with Tezos is primarily fact that I entered in a field of cryptocurrencies very lately. It’s truth that Tezos has lot of advanced features which Ethereum doesn’t, but we should not forget that the Ethereum’s team is big and full of talent. Also they are young enough and they have a vision. Most important is their advantage of time. I can’t predict a price ratio ETH/XTZ few years ahead, I believe and hope that it will not be so bad for Tezos - so I decided to enter this campaign. Sorry to disappoint you - I do believe in Tezos, it might even be greater then Ethereum one day and I hope it will but it wouldn’t be that easy.
Yes - one more thing - excuse me for my English, I hope you have understood my words.
I am not a techie, but what I see is a negative development in favour of hardcore capitalists who dont care about the cause of any blockchain project. For them, any involvement is a pure transaction and unfortunately, many Tezos investors are exactly the same. You’re in for the long-term. Thinking already about your wallet and how to trade tezzies and why only in February etc. is ridiculous. If it was up to me, the Tezos team could take 2 years + to go live with trading. Anyone who thinks about flipping their Tezzies asap is wrong here. Regarding your time factor: ETH was first, thats right. So was myspace… or netscape… and many more. The first mover advantage didnt help those companies much. Its how you do it… and timing. Ethereum cannot rebuilt its basic architecture from scratch, its gone too far for this. Tezos can; taking all learnings from previous projects into account. We have to be grateful to bitcoin and ETH for all they have done, but Tezos is the future.
It’s possible that both Bitcoin and Ethereum will eventually flop (though I don’t think so), but I wouldn’t be so bold for any particular coin. Tezos have some very interesting features, but even this isn’t the end of progress. I don’t think that one should fall in love with some coin. About my investment - it’s 0.5 BTC, at that time this was about 1,400$-1,500$. You may, or may not believe me but I do not expect some fast return of interest. But even if I would - would this be a crime? After all - the team took 250,000,000$ from us mostly in BTC and less in ETH. Unspent part of this now worths 400,000,000$ and will probably rise as BTC (and ETH) rise! Tell me now - who’s hardcore capitalist here?
Back in highschool I was a strong believer in communist stuff (my country was one of those), I believed because I was innocent. I believed that all humans are equal and we are all brothers - only those bloody capitalists are trying to spoil such utopia. This was more than 30 years ago. Life has taught me that things aren’t so black and white. Nowadays younger generations are better indeed than prior, probably because they have enough material things for living and because of vivid multicultural communication over the Internet, but in essence humankind haven’t changed so much.
One more thing - haven’t Netscape created open source project? Mozilla? As far as I remember Netscape is killed by capitalists. Maybe Microsoft? I don’t say that it is good or that I like it. But it just the way it is (at least for now). Revolutions are very bad thing, only evolution can bring us closer to goal.
ERC20 tokens are like breakfast, lunch and dinner for XTZ. While Ethereum has ramped up transactions through ICO’s and trading, actual products and services user base remains mostly in the dream stage.
Tezos might skip ahead to one of Ethereums further goals with formal verification. I predict if Tezos can deliver a working chain that ERC20 tokens will scramble to copy their services over to our chain. From that point it’s all about network performance and crisis management.