Bitcoin Forum

Most ERC 20 tokens and ICOs are based on Ethereum network. I was just wondering if Ethereum network is out of existence, wont' those tokens function?

That is why some coins are developing its own blockchain, such as the qutum, it was an ERC20 coin once the ico was over, but it has its own blockchain and wallet now, so I think if the situation comes true, many new ERC20 coins will be involved.

No, you're wrong 'cause developers of new coins before working out their new crypto money should decide which structure they will use in their token the new one och they are going to use a structure of the existing coin. So if there were no Ethereum the devs will establish their token on another base for example such as Waves.

they are already useless.
there are hundreds of them and none of them are doing anything in real world. they are all virtual promises that were made during the ICO phase to raise more money and then do none of the promises at all.

and if ETH disappears nothing will change either. people will lose money and new ICOs will simply move to the next best platform such as Waves.

Yes because they have been created for ethereum network. It wont going to happen and its pretty safe.

Even right now most of them is useless and only for speculation without real usage. If somehow ethereum network is gone then they are going to be useless before moving to another chain which better than ethereum.

If Ethereum were to cease to exist, the only option would be to move on to the next best platform.
If you think about it, Tokens are pretty useless now too unless you exchange them. Tokens will be produced to sell on ICOs and the developers will raise money to help fund the project they are so keen on developing.

I think yes, because Bitcoin is the first Blockchain and although it is an open source and everyone can develop the existing system but Ethereum choose to overhaul the entire blockchain and they only took the whole and general idea and technical engine out of Bitcoin's core into a new level of blockchain system.
They created a smart contract wherein they produce a public Geth platform so that everyone can create their own Cryptocurrency community without creating another blockchain from the scratch and this will result into Ethereum as the most important currency next to Bitcoin.
But not only Ethereum, LiteCoin, Waves, Ripple, Monero and other top Altcoins have their own blockchain platform same functionalities and operations but deferent backbone.

The ERC20 is the reason why Ethereum remain on top and being the leader in Altcoin group, ERC20 platform currencies are using Ethereum blockchain platform as their backbone so that's why there are so many new ICOs and Crypto-Currencies are being introduced almost everyday.

Yes, that is one of the reason why project choose way of developing their own blockchain. ETH Blockchain is often used for ICO. But, technicaly ETH Blockchain is not good at all, just 20 trans/sec - it is very slow!

Yes those ERC20 tokens will only work on Ethereum blockchain. In case Ethereum goes out, then they will too. Although if devs want they can migrate to another blockchain like waves, Qtum and upcoming SMT (smart media tokens) of Steem. But how will the migration actually happen without the blockchain, is a topic of discussion!

The answer is yes. ETH is the life of the token. Token creation, contract, and distribution need eth as the gas. When there is no eth, but the network is alive, you can send the token. You need gas. The gas is ethereum. It is different if you use waves token. The token based on waves network.

Without Ethereum Network, these erc20 tokens become useless garbage unless they can be transferred to another platform.

I think that maybe not all coins will disappear, because there are other coins that are not based on the Ethereum network, there are also some coins or token that are based on bitcoin network. However, if Ethereum really goes away, other coins will definitely lose value.

They will create tokens on another platform or on their own blockchain, and distribute it to holders again according to blockchain snapshot and exchange data if eth gone

It's just a theory, I can't imagine what should happen, so that the whole Ethereum blockchain will be dead. Ethereum is more than alive now, and it's getting stronger and stronger, so I wouldn't worry for ERC20 tokens at all.

If there is a problem in the Ethereum network that causes can not make a transaction then it can be said that the token in the Ethereum network has no function because token holders can't use tokens to transact or use tokens as payment on the platform
If this happens. I think project developers can switch to other platforms so their tokens can work again

many altcoins are now making there own blockchain now...many tokens may be survive if its happend

But switching won't be possible as transferring codes from one server to other. With the lose of ethereum network, the distribution and ownership of tokens too will be lost.
But lose of ethereum network won't be possible as it is decentralized.
Even if the Ethereum team became hostile and code itself to death, anyone can fork it before it's death and operate a different or the same blockchain network.

As ethereum asset and ethereum blockchain was a crucial part for them all, that was actually pegged on the ethereum blockchain but not only ethereum, neo and qtum platform if that has an asset that pegged on its chain. All of the assets will be useless because you can't do anything with it. this is the same with other assets on another platform too.

Another question is, what happens to all the tokens and projects when there is a newer technology and ethereum is obsolete. I am not sure if you want to migrate your token every few years to a new blockchain.

When eth network will go down than all erc20 tokens will be affected, nobody can transfer their tokens. Also if any of the token get popular and have high number of transactions than it can affect whole eth network. For example cryptokittens game got popular which is based on eth smart contract, this affected eth network some days ago where fee increased by 10x

I'm pretty sure tokens are ok for the moment, since the ethereum network is being work on and developed and patched up daily.

It will die but if the developers are actually serious about their project there is a high chance they might end up developing their own blockchain. I mean imagine if eth network stops functioning coins like omg would clearly die it currently has a market cap of more than $1.5 billion there is a high chance they either switch their blockchain.

It wont because developers will make updates and they will needed to continue progressing, the tokens will be fit in any platform they just use
Eth because of some good offers and the usability, if the developers are serious about the project then we are secure that the tokens will not die in anyhow.

EOS is coming with their own blockchain, wait for it. Its Ethereum killer

Id like to know more about this, do you have a link that says more, this is interesting! Although i dont want to see Ethereum die out

If the developers of the tokens are serious about it, the tokens may either switch to an alternative platform or end up creating their own blockchain. So it all depends on the developers of the tokens.

Right, if no ethereum network all token we have no useless. We can imagine that we have many more tokens but there are not ethereum network, sure that we can not use the token for our life :)

Some would probably yes because etherium plarform is the way to transact them but others which has already been using their own platforrm will not get affected and some specially with those who have active developers will surely find other means in order for their tokens not to be useless.

It is not too difficult to move the platform to another standard now. There are already several examples. It's not a problem

thats a good question and very intersting if all tokens will be useless without ethereum thats one reason be carefully (to be) on the market... but i dont know for sure dont think that there cant be no token without etetherem because they are just forks