Cryptocurrency Q&A
Are ERC-20 tokens safe?
Are ERC-20 tokens safe?
ChloeHarris
Mon May 13 2024
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5 answers
1127
I've been hearing a lot about ERC-20 tokens in the crypto world, but I'm still a bit skeptical about their safety. Could you please elaborate on the security aspects of ERC-20 tokens? Are they really safe to invest in? I've read about some smart contract vulnerabilities in the past, so I'm a bit concerned about the potential risks involved. Also, how do they compare to other types of tokens in terms of safety? Would you recommend ERC-20 tokens as a good investment option?
5 answers
EchoWhisper
Wed May 15 2024
ERC20 smart contract functions serve crucial roles in enhancing security measures.
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CryptoPioneer
Wed May 15 2024
These functions conduct thorough checks on the sender's balance.
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Carlo
Tue May 14 2024
They also verify approvals before initiating token transfers.
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Ilaria
Tue May 14 2024
Such checks enforce strict permissions, guaranteeing the legitimacy of transactions.
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Caterina
Tue May 14 2024
Additionally, they effectively prevent unauthorized transactions, further bolstering security.
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