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Title: burnFrom function in erc20 token contract unsafe? Post by: erikmollink on March 20, 2019, 10:21:38 AM We have been issuing a token using the standard erc20 token contract from https://ethereum.org/token
An exchange that we wanted to list our token, asked for a collateral as they see the burnFrom function could harm token owners. Why would this function be harmful? You can only use this function when you got allowance from the wallet owner. Plus, why is this code in the 'standard' erc20 contract if it is potentially harmful? Does anyone has an answer to this question? Title: Re: burnFrom function in erc20 token contract unsafe? Post by: neonshium on March 31, 2019, 09:04:29 PM Well I have used this function very much while developing projects in solidity and I have not for once faced any issue hack or the token being a harm to the token holders, so I don't know why they say it is harmful but I am going to make a thorough research on this and see if they are actually saying the truth which I really doubt, but if I find out that it's the truth, I will come back here to confirm and will also stop using it for development.
Title: Re: burnFrom function in erc20 token contract unsafe? Post by: plastick on December 29, 2019, 02:20:33 AM We have been issuing a token using the standard erc20 token contract from https://ethereum.org/token An exchange that we wanted to list our token, asked for a collateral as they see the burnFrom function could harm token owners. Why would this function be harmful? You can only use this function when you got allowance from the wallet owner. Plus, why is this code in the 'standard' erc20 contract if it is potentially harmful? Does anyone has an answer to this question? I would think the answer to this is quite obvious.... Nobody wants their tokens burned without their permission and this function allows whoever is in control of the token to do just that. It is anti-trustless and therefore anti-crypto. Why would you ever need a burnFrom function if it is not for nefarious purposes? The only way this should ever be implemented is if ONLY the wallet hodler themselves were able to burn their own tokens. Title: Re: burnFrom function in erc20 token contract unsafe? Post by: CryptoVzla on December 29, 2019, 06:42:10 AM token burn fuction isnt harming as i know, because some token that running on ethereum platform want to make their price up & burn some supply they got,
its good idea to make token become limited to grab, and owner of contract cant even burn user coin from wallet because smart contract only can burn wallet owner who excute the function as far i know |