RATE Group | Inside Wormhole’s Quest to Dethrone ERC-20
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Inside Wormhole’s Quest to Dethrone ERC-20

16 Aug Inside Wormhole’s Quest to Dethrone ERC-20

Posted at 23:35h in Bitcoin News by

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Last week, Bitcoin.com CEO Roger Ver and lead developer Corbin Frasers unveiled a new tool which allows developers to issue tokens on the Bitcoin Cash blockchain, hosted on their publication.

“For better or worse, ICOs and CryptoKitties are probably coming to Bitcoin Cash in the near future,” Fraser said half-jokingly, to which Ver optimistically added that “they are probably coming to Bitcoin.com, too,” hinting that his publication might hold an ICO based on new tokens.

This became possible with the arrival of the Wormhole protocol, which might challenge the ERC-20 reign in the world of crypto tokens.

What are tokens and how are they issued?

Coins and tokens

The cryptocurrency market can be split into two parts: coins and tokens. The former are cryptocurrencies that have original blockchains supporting them — the two most obvious examples would be Bitcoin (BTC) and Ethereum (ETH). Tokens, in turn, are based on pre-existing blockchains to represent a particular asset or utility.

Tokens…

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