Is BCOT Token a ERC20 of Ethereum?


#1

Is BCOT token a ERC20 of Ethereum?

Asked by MAKOTO SHIIBA


#2

The BCOT tokens are not ERC 20 tokens. They will be tokens on the Omnilayer platform. Tokens such as Tether, Synero, and Maidsafe are created on OminiLayer. It is based on bitcoin, the most secure.

We have chosen not use to use ERC 20 because Ethereum contracts have proven very insecure. More recently the lead developer of the ethereum foundation locked up 260 million worth of Ether for several ICOs: https://arstechnica.com/information-technology/2017/11/with-deletion-of-one-wallet-280-m-in-ethereum-wallets-gets-frozen/

Researchers find 3,686 Ethereum contracts that let anyone steal all the money

And many other hacks have proven Ethereum contracts insecure.