What is ERC223?

[Pet240]

ERC223 is an advanced form of ERC223, in the sense that the errors in ERC20 have been eliminated in ERC223. For instance, the problem of lost tokens which happens during the transfer of ERC20 tokens to a contract (when people mistakenly use the instructions for sending tokens to a wallet). ERC223 allows users to send their tokens to either wallet or contract with the same function transfer, thereby eliminating the potential for confusion and lost tokens.
ERC223 allows developers to handle incoming token transactions, and reject non-supported tokens (not possible with ERC20)
ERC223 saves energy. The transfer of ERC223 tokens to a contract is a one step process rather than 2 step process (for ERC20), and this means 2 times less gas and no extra blockchain bloating.

[supelle.born]

ERC223 is the evolution of ERC20. ERC223 eliminates the problem of lost tokens, allows developers to handle incoming token transactions and its transactions costs 2 times less than ERC20 transactions. So ERC223 is much better than ERC20 protocol.

[Kavallo]

I'm hearing of this standard for the fist time. I'd be curious to know if ERC-223 is already supported by all the platforms which support ERC-20, for example MEW.

[bittick]

I'm hearing of this standard for the fist time. I'd be curious to know if ERC-223 is already supported by all the platforms which support ERC-20, for example MEW.

MEW is supporting ERC233 but the majority of wallets don't support it because it has needed to update the new protocol to support ERC233 token.

And bittrex becomes a platform that was ignoring ERC233 token from mobilego.

There is a problem and the developer must issue ERC20 version of mobile go.

[hhussain]

From the very basic level, ERC 23 coins solve problems which the ERC 20 coin is not capable of solving for example in the ERC 20 coin you cannot deposit either in the contract that is not specified to except you Ethereum deposits which is possible as an option in your ERC 23 coins even for withdrawal contracts

[btcluisdiki]

As per definition, ERC223 is a superset of the ERC20 token standard. It is a step onward towards economic generalization at the application level permitting the use of tokens as first class value transfer assets in smart contract development. Another advantage for ERC223 is that it allows contract developers to handle incoming token transactions and it also creates token transactions that is very similar to Ether transactions.

[supergorg27]

I read an article, and I see ERC233 but there is no detailed explanation. so what is the difference between ERC20 and ERC223 ?

The ERC223 standard introduces an interface for contracts that want to work with tokens. In this interface there is a token Fallback function, it must be called when trying to send tokens to the contract. When making transaction using transfer, you need adding additional information.

In ERC223, an additional transfer method is added which contains the data field - specifically for the transfer of additional information. However, the old transfer method is left.

Here the guy explains more: https://www.youtube.com/watch?v=GS62VNyPVHs

Glad to have this information because I don't know about this and I just heard this only now, I will try to have a research more.

[melted349]

As far as i know, there is no ERC233 word to describe any services used under this new ERC233 term in the world of cryptocurrency.
I am moderately sure that the term you are mentioning isn't a valid referance. This may be a typo mistake from the article writer.
However, if you are sure about this strange short word that the word is related to a technology, you can share source of article here

there is ERC223 if you heard about CSNO bitdice casino token this is one of the first  project that try to  launch this ERC223 . but they have problem in exchange listing thats why they moved it back to ERC20. There are many exchange not supporting this ERC223  so only few dev use it.

[Ulanisohon]

I read an article, and I see ERC233 but there is no detailed explanation. so what is the difference between ERC20 and ERC223 ?

The ERC223 standard introduces an interface for contracts that want to work with tokens. In this interface there is a token Fallback function, it must be called when trying to send tokens to the contract. When making transaction using transfer, you need adding additional information.

In ERC223, an additional transfer method is added which contains the data field - specifically for the transfer of additional information. However, the old transfer method is left.

Here the guy explains more: https://www.youtube.com/watch?v=GS62VNyPVHs

Thank you for this clarification and this video. Now it's become clearer. As I understood, the main advantage of contracts like ERC223 is the presence in this interface of the Tokken Fallback function, which is called when trying to send tokens into a contract.

So ERC223 allows developers to handle incoming token transactions, and reject non-supported tokens, which was impossible with the ERC20 protocol.

However, today I meet more often projects, the tokens of which are organized on the ERC20 protocol, rather than the ERC223. Probably the situation will change soon .

[btctestcolets]

I read an article, and I see ERC233 but there is no detailed explanation. so what is the difference between ERC20 and ERC223 ?

The ERC223 standard introduces an interface for contracts that want to work with tokens. In this interface there is a token Fallback function, it must be called when trying to send tokens to the contract. When making transaction using transfer, you need adding additional information.

In ERC223, an additional transfer method is added which contains the data field - specifically for the transfer of additional information. However, the old transfer method is left.

Here the guy explains more: https://www.youtube.com/watch?v=GS62VNyPVHs

Glad to have this information because I don't know about this and I just heard this only now, I will try to have a research more.

Yes, me too. First time that i heard the information about ERC-223 and i wonder maybe this was the update of ERC-20 because a lot of people using ERC-20 were aloted is almost over the ethereum wallet address in blockchain. But to be clarify i research for more info. to this newest erc-223 what was all about.

[xitijekiki]

I only know erc20. Currently erc223 yes I was too lazy. I think erc20 is defective so erc223 will overcome that defect.

[DdmrDdmr]

It looks like being an early bird adapting ERC-223 comes at a cost. Market exchanges are not yet supporting the new protocol. Just this week, Coinvest ICO has had to plan a hardfork of their token, COIN (ERC-223), in order to create a downgraded version COIN V2 (ERC-20).

The reason? Well, they simply could not get their new token on to the exchanges since they are not ready to support ERC-223 yet.

Strangely enough, Coinvest is an ICO to create a new exchange itself, with a couple of novelties in their roadmap. Unfortunately, this setback with their token only goes to add to their ICO misfortune, since they only raised something in the line of 15% of their hardcap in a bearish market.

The above goes to show that being an early adapter has high risks and needs very careful planning and synchronization on how fast the market is going to move in terms of adaption.

[yugyug]

ERC223 tokens are backwards compatible with ERC20 tokens. It means that ERC223 supports every ERC20 functionality and contracts or services working with ERC20 tokens will work with ERC223 tokens correctly.
Source : https://github.com/Dexaran/ERC23-tokens/tree/Recommended#erc23-token-standard

3 Primary improvements with ERC223 :

1. Eliminates the problem of lost tokens which happens during the transfer of ERC20 tokens to a contract (when people mistakenly use the instructions for sending tokens to a wallet). ERC223 allows users to send their tokens to either wallet or contract with the same function transfer, thereby eliminating the potential for confusion and lost tokens.

2.Allows developers to handle incoming token transactions, and reject non-supported tokens (not possible with ERC20)

3. Energy savings. The transfer of ERC223 tokens to a contract is a one step process rather than 2 step process (for ERC20), and this means 2 times less gas and no extra blockchain bloating.

ERC223 adds an additional data parameter to the transfer function, to allow for more complex operations than just a token transfer.

[jinxcreedy]

It's an upgrade of the ERC-20 token standard. One of the best things of this new standard is that tokens will not be lost to wrong addresses anymire

[lancer10]

That is a token standard that came from ERC20 base. I know only 8 of the standards, but they are quite similar and for "newbies" it does not have to be matter whether using ERC20 or ERC223

[xGeraValerax]

In ERC223, the transfer function with two parameters was left for backwards compatibility with ERC20. Its implementation differs from transfer with three parameters only in that the third parameter is replaced by an empty value.
The transfer function now receives the code size at the destination address. If the code size is greater than zero, then the recipient is not just an address, but a contract. And in this case we try to call the function transferFallback.