We like to google iEthereum. Duck Duck Go! It helps us stay abreast. A site that was always on the forefront of iEthereum internet chatter was Investors Hub, an online message board geared towards investments and investors. The iEthereum board, now dormant of activity is still a wealth of information, speculation, thought and ponder of the iEthereum token by an alias named jjPP.
This site is very speculative in nature that Apple is behind the creation of iEthereum. This discussion forum is great to fill up on hopium.
Today, however, I would like make record of this site and keep the conversation in the news and speak on the topic of a certain post that is less speculative in nature.
On 2/20/2020, jjPP posted #226 as a matter of question, “ I am sincerely confused, however. So ERC20 smart contract tokens remain forever, right?”
According to Investopedia, ERC20 refers to a scripting standard used within the Ethereum blockchain. This technical standard dictates a number of rules & actions that an Ethereum token or smart contract must follow and steps to be able to implement it. It is perhaps easiest to think of ERC20 as a set of basic guidelines and functions that any new token created in the Ethereum network must follow.
Ethereum is a permission-less network with a publishing standard called ERC20. Once deployed, theoretically this token (smart contract) will live forever as long as the Ethereum network exists. I state theoretically and “lasting forever” as a bold statement, yet cannot guarantee anything in life.
What if Ethereum becomes permissioned in the future? We do see this as a greater possibility everyday as regulatory compliance is molded across jurisdictions. And as enforcement of said jurisdictional compliance unfolds as seen with Tornado Cash, an ERC20 token where the founder has been arrested. To date this is an extreme case.
However, what I see more likely to happen is Ethereum will upgrade the standard guidelines and functions required to be permissed to create a new ERC based token. Ethereum already has capabilities and reclassification methodology of certain alternative ERC standards, such as ERC223, ERC621, ERC827 as well as others. It is possible with the current governing structure of the Ethereum network to propose and vote to make ERC20 tokens obsolete and all new projects must adhere to a new ERC#### set of rules, guidelines and functions.
So will iEthereum, an ERC20 token continue to exist if this worst case scenario take place. Yes, yes it will exist. In fact it may make it more valuable in various environments, alternative networks and within certain political borders. But the question should not be “Will it exist?” The better, more fair and honest question to yourself would be “How functional will it be?” "How useful will it be? Remember, all blockchains tokens are representations of computer code as a service, to perform a certain function. Perhaps, iEthereum will become more valuable for its function on other EVM compatible chains. iEthereum already exists and is functioning on Ethereum Fair, Ethereum POW and Pulsechain, all of which are Ethereum Virtual Machine compatible networks. Any future forks of Ethereum will also create opportunities for iEthereum.
All of this is possible because iEthereum IS a published ERC20 token and will exist as long as Ethereum exists. We see value in iEthereum on all chains at this moment in time.
jjPP, if you happen to read this……please contact us. [email protected]
iEther way, We see value!