SLP Tokens vs ERC-20 Tokens

[Abiky]

The Bitcoin Cash blockchain has recently integrated a new protocol called the "Simple Ledger Protocol" which gives users to ability to create or interact with tokens just like they would with Ethereum. Nowadays, it's easier for anyone to download the Electrum SLP Wallet for creating a new token on the BCH blockchain. On the other hand, it's much more difficult to create an ERC-20 token on the Ethereum blockchain because you'd need to know how to program using the "Solidity" programming language. I believe that the latter option (ERC-20 Tokens) is much better than the former (SLP Tokens) as you can modify the token's specifications to your heart's content. With extensibility/programmability anyone can create a powerful token on the Ethereum blockchain limited to its transaction capacity. That's not possible with the Bitcoin Cash blockchain yet (as far as I'm aware). Still though, the simplicity of SLP Tokens brings a greater level of security than tokens which are based on Ethereum's ERC-20 standard.

Do you think SLP Tokens will turn out to become better than ERC-20 Tokens in the long run? What are your thoughts about both ends? In my opinion, I prefer to use ERC-20 tokens because of the reasons mentioned earlier. But the average person might find it more comfortable to create an SLP token on the BCH blockchain because there's no need to have programming skills to do so. What's your opinion?

[Diamond_Darrell]

The Bitcoin Cash blockchain has recently integrated a new protocol called the "Simple Ledger Protocol" which gives users to ability to create or interact with tokens just like they would with Ethereum. Nowadays, it's easier for anyone to download the Electrum SLP Wallet for creating a new token on the BCH blockchain. On the other hand, it's much more difficult to create an ERC-20 token on the Ethereum blockchain because you'd need to know how to program using the "Solidity" programming language. I believe that the latter option (ERC-20 Tokens) is much better than the former (SLP Tokens) as you can modify the token's specifications to your heart's content. With extensibility/programmability anyone can create a powerful token on the Ethereum blockchain limited to its transaction capacity. That's not possible with the Bitcoin Cash blockchain yet (as far as I'm aware). Still though, the simplicity of SLP Tokens brings a greater level of security than tokens which are based on Ethereum's ERC-20 standard.

Do you think SLP Tokens will turn out to become better than ERC-20 Tokens in the long run? What are your thoughts about both ends? In my opinion, I prefer to use ERC-20 tokens because of the reasons mentioned earlier. But the average person might find it more comfortable to create an SLP token on the BCH blockchain because there's no need to have programming skills to do so. What's your opinion?

thanks for the information
I think it will be just a paradise for different scammers. The faster and easier it is to create a successful crit-project scam, the easier it is to cheat naive greedy suckers. But from the positive, we can expect that the price of BCH will go up in the future

[hello_good_sir]

The fact that it's based on the BCH ecosystem essentially ruins it for any practical adoption.

Anyhow, I still think that in the long run, people will tend to use ERC20 tokens because of the fact that it's so commonly used for previous ICOs. And with ETH's dominance within the market with a potential ETH2.0 upcoming that will introduce PoS, that could see increased ETH adoption, and therefore ERC20 adoption.

There are a ton of coins that have smart contract functionality, but obviously not all have the level of adoption that ETH currently has.

[CjMapope]

Oh god, haha i wouldn't touch a BCH  token, imagine THAT drama when something goes wrong...
the 3 major people backing that shit are so full of themselves they would spend the first 3 hours blaming eachother, then the next 3 hours blaming the users...  
I will always use ERC20 where its needed, other protocols are better for other things, i.e ERC-721
also: i dont tend to have much faith in "follower coins" they are just cashgrabs to me, imagine how desperate Ju is to create value, his company lost BILLIONS$ in the last year or two :O

[pakhitheboss]

The Bitcoin Cash blockchain has recently integrated a new protocol called the "Simple Ledger Protocol" which gives users to ability to create or interact with tokens just like they would with Ethereum. Nowadays, it's easier for anyone to download the Electrum SLP Wallet for creating a new token on the BCH blockchain. On the other hand, it's much more difficult to create an ERC-20 token on the Ethereum blockchain because you'd need to know how to program using the "Solidity" programming language. I believe that the latter option (ERC-20 Tokens) is much better than the former (SLP Tokens) as you can modify the token's specifications to your heart's content. With extensibility/programmability anyone can create a powerful token on the Ethereum blockchain limited to its transaction capacity. That's not possible with the Bitcoin Cash blockchain yet (as far as I'm aware). Still though, the simplicity of SLP Tokens brings a greater level of security than tokens which are based on Ethereum's ERC-20 standard.

Do you think SLP Tokens will turn out to become better than ERC-20 Tokens in the long run? What are your thoughts about both ends? In my opinion, I prefer to use ERC-20 tokens because of the reasons mentioned earlier. But the average person might find it more comfortable to create an SLP token on the BCH blockchain because there's no need to have programming skills to do so. What's your opinion?

These are only the initial days to compare them. ERC-20 is a well established token and SLP has just started. The biggest advantage is easy to setup using the wallet, which means anyone can do it without having proper coding knowledge.

[o48o]

Tokens are just a small part of eth, Waves already have tokens made simple and those didn't have impact as in competition. I can't see any use cases for bch based tokens either.

[Kyraishi]

Yep, as others said, there is really no reason at all to be touching any token that is hosted on the BCH blockchain when you consider the fact that there is simply so much lacking in terms of adoption rates for Bitcoin Cash compared to BTC or even popular alts. All I can see it be is a speculative token.

ERC20 is going to continue to be the standard for ICO tokens and smart contracts for a long time to come, imo.

And if there were to be a replacement, it would not be BCH's SLP. There are so many other better smart contract altcoins out there.

[sureshnsnet]

As per my view of point the erc20 will be the best option to choose for launching a new tokens because it have a strong platform with solidity program but simple ledger protocol (slp) does not need any program to create because anybody can create a slp tokens easily and managed on the Bitcoin cash Blockchain within seconds. Maybe it will be favour of scammers sometimes.

[Abiky]

The fact that it's based on the BCH ecosystem essentially ruins it for any practical adoption.

Anyhow, I still think that in the long run, people will tend to use ERC20 tokens because of the fact that it's so commonly used for previous ICOs. And with ETH's dominance within the market with a potential ETH2.0 upcoming that will introduce PoS, that could see increased ETH adoption, and therefore ERC20 adoption.

There are a ton of coins that have smart contract functionality, but obviously not all have the level of adoption that ETH currently has.

We cannot deny the fact that ERC-20 tokens are more popular than SLP tokens. After all, Ethereum was the first Blockchain platform which introduced the concept of smart contracts. With a few years since inception, the world's second-largest cryptocurrency by market cap has been able to establish a trusted branding among mainstream developers and individuals alike. You can do so much more with an ERC-20 token on the Ethereum blockchain than SLP tokens on the BCH blockchain.

One thing to keep in mind, is that Bitcoin was not designed to handle complex transactions on the Blockchain. Which means, that Bitcoin Cash is not suitable for tokens or even executing smart contracts. On the other hand, Ethereum is suitable for smart contracts because of the way it was designed. Personally, I prefer to deal with ERC-20 tokens because they have an already established user base. There's a lot of support for these type of tokens across mainstream businesses, corporations, and exchanges alike.

But who knows? Maybe the BCH project gets lucky someday, as mainstream businesses launch SLP tokens on it. After all, it's much easier for the average user to create a token on BCH than doing so on ETH. The main difference will be the quality of the tokens among both blockchains. And ERC-20 tokens on the Ethereum blockchain are a true winner (both in terms of quality and reliability) in this regard. Just my opinion

[a1683]

As per my view of point the erc20 will be the best option to choose for launching a new tokens because it have a strong platform with solidity program but simple ledger protocol (slp) does not need any program to create because anybody can create a slp tokens easily and managed on the Bitcoin cash Blockchain within seconds. Maybe it will be favour of scammers sometimes.

Agreed on this one.
Erc20 tokens seems like a great option for solid companies with devs and other staff.
Slp is more of a thing you can do on your own so any Slp token can be possibly runned by scammer

[VanDeinsberg12]

The fact that it's based on the BCH ecosystem essentially ruins it for any practical adoption.

Anyhow, I still think that in the long run, people will tend to use ERC20 tokens because of the fact that it's so commonly used for previous ICOs. And with ETH's dominance within the market with a potential ETH2.0 upcoming that will introduce PoS, that could see increased ETH adoption, and therefore ERC20 adoption.

There are a ton of coins that have smart contract functionality, but obviously not all have the level of adoption that ETH currently has.

We cannot deny the fact that ERC-20 tokens are more popular than SLP tokens. After all, Ethereum was the first Blockchain platform which introduced the concept of smart contracts. With a few years since inception, the world's second-largest cryptocurrency by market cap has been able to establish a trusted branding among mainstream developers and individuals alike. You can do so much more with an ERC-20 token on the Ethereum blockchain than SLP tokens on the BCH blockchain.

One thing to keep in mind, is that Bitcoin was not designed to handle complex transactions on the Blockchain. Which means, that Bitcoin Cash is not suitable for tokens or even executing smart contracts. On the other hand, Ethereum is suitable for smart contracts because of the way it was designed. Personally, I prefer to deal with ERC-20 tokens because they have an already established user base. There's a lot of support for these type of tokens across mainstream businesses, corporations, and exchanges alike.

But who knows? Maybe the BCH project gets lucky someday, as mainstream businesses launch SLP tokens on it. After all, it's much easier for the average user to create a token on BCH than doing so on ETH. The main difference will be the quality of the tokens among both blockchains. And ERC-20 tokens on the Ethereum blockchain are a true winner (both in terms of quality and reliability) in this regard. Just my opinion

Next waves platform with a bunch of crap coins. The bold sentences are the main point and i believe if to make the token issuance becomes much easier is not the right decision. There will be so many scammers used it very soon. To make the token issuance will much more difficult in the mainstream smartcontract like ethereum is a good point to prevent the scammer.
Mainstream businesses can even create their own coin that runs on their own blockchain as it's not so difficult to deploy the new blockchain. So many people were even complaining to the ethereum developer to create a new agreement or mechanism for the token issuance.

[Aabcde]

With the presence of the BCH I am not interested at all, especially with tokens that will be made under the auspices of the blockchain, not at all interested.
If people who do not understand coding can make a token, what will happen to the crypto world that will be filled with shittoken from BCH. ERC20 alone still has a lot of shittoken, especially with tokens under BCH, for sure. BCH is too inconsequential in my opinion.

[Dickiy]

from the system SLP is good but to be better than ERC20 it requires a long process because ERC20 is not born instantly and SLP can be said to compete with ERC20 has not surpassed

[Bttzed03]

Did Bch just joined the "Ethereum Killer" team (Eos, Tron, and many others)?

~
I think it will be just a paradise for different scammers. The faster and easier it is to create a successful crit-project scam, the easier it is to cheat naive greedy suckers. But from the positive, we can expect that the price of BCH will go up in the future

Yeah it could pump temporarily and will be dumped hard by ICO scammers like what happened to Eth. But that's IF anyone would actually invest in token sales on the Bch blockchain. Who uses Bch anyway?

[cutesgirl]

Did Bch just joined the "Ethereum Killer" team (Eos, Tron, and many others)?

~
I think it will be just a paradise for different scammers. The faster and easier it is to create a successful crit-project scam, the easier it is to cheat naive greedy suckers. But from the positive, we can expect that the price of BCH will go up in the future

Yeah it could pump temporarily and will be dumped hard by ICO scammers like what happened to Eth. But that's IF anyone would actually invest in token sales on the Bch blockchain. Who uses Bch anyway?

I think erc20 still become best coin until right now because we have see how many ICO success higher price after listing with exchange market, just several time with failed ICO without have higher price and failed raised hard cap and they listed coin with market on cheap price,

[naikturun]

my opinion is better to use erc 20 tokens, as you said making tokens through the erc20 network is much more difficult because it has to have programming skills while using the bsv network is much easier and helps the scamer develop as well.
yes even though the erc20 network that now the scamer already exists, but that will make it easier for them to use SLP.
I do not mention slp bad but only mention the impact it causes.

[mrdeposit]

Eth seems not to give its place to anyone. Convenience was also in the wave, but the rough eth is still in the first place. In addition, it seems that eth team has the power to remove the problem that will weaken their projects. If bch makes any improvements, I do not think eth will give up. There was also stronger neo, but it could not resist eth.

[btcdie]

We'll see further developments. the contract token ecosystem in BCH is fairly new. Perhaps the advantage of SLP is in the ease of manufacture. I think the ERC-20 compatible currently meets the standards for any project that wants to adopt blockchain technology. I am also reminded of the TRC-10 / TRC-20 protocol belonging to the TRON project, and I think this protocol is the same, namely its advantages in ease of building. the fact is that it is far better to stick to the ERC-20 protocol. yeah, in my opinion people are right, that is helping or giving convenience to scammers.

[Script3d]

Do you think SLP Tokens will turn out to become better than ERC-20 Tokens in the long run? What are your thoughts about both ends? In my opinion, I prefer to use ERC-20 tokens because of the reasons mentioned earlier. But the average person might find it more comfortable to create an SLP token on the BCH blockchain because there's no need to have programming skills to do so. What's your opinion?

It would be worse, scams are already rampant with ERC-20 tokens and now people can create their own coin without any programming language, now scammers have to spend less resources to scam other people, but i don't think there are that much people that's gonna use SLP tokens since it's new.

[Abiky]

It would be worse, scams are already rampant with ERC-20 tokens and now people can create their own coin without any programming language, now scammers have to spend less resources to scam other people, but i don't think there are that much people that's gonna use SLP tokens since it's new.

That's what I've thought. It's so much easier for a scammer to create a new token on the BCH blockchain than doing so on Ethereum. The latter requires some knowledge in the field of Computer Science to be able to successfully create a working product (in this case, an ERC-20 token). I have a feeling that we'll be seeing more useless tokens on the BCH blockchain than on Ethereum itself. The BCH dev team should've designed a new programming language specifically for token creation/execution (like Ethereum) in order to reduce scams as much as possible. That's why I prefer to deal with Ethereum's ERC-20 token standard than anything else. Top-notch crypto projects and mainstream businesses/companies will definitely use the Ethereum platform over Bitcoin Cash.

One thing for sure is that the BCH blockchain has far more TX capacity than Ethereum itself. This means that SLP tokens will be able to perform as intended without disruptions or high costs unlike ERC-20 tokens living on the Ethereum blockchain. For some people, this seems to be the way to go as it provides convenience above anything else. For others, the ERC-20 token standard is the way to go because of its censorship-resistant properties (thanks to the way the Ethereum blockchain was designed). In all ends, Bitcoin Cash is sacrificing decentralization over scalability, while Ethereum sacrifices scalability over decentralization. Depending on one's needs (scalability or decentralization) will be the token standard to use. But the majority has chosen Ethereum, which explains why ERC-20 tokens have greater support than SLP tokens. Just my thoughts