Everything you need to know about the ERC-20 Token Protocol
I thought it'd be useful to explain the smaller bits and best practices when releasing ERC-20 Tokens, since people love ICOs. So let's set the record straight on how to properly release these ICOs in a safe manner.
Rule #1 always use assertions where you can
In order to prevent hacking, you should assert that transaction went through in your solidity code. This reduces your chance of your contract being hacked and fucked over.
Rule #2 make sure your function names match the ERC-20 protocol
If you don't do this then your ERC-20 wallet won't work with an ERC-20 compatible wallet. You can review the protocol function names in the snippet of code I post below.
This code should help you enforce best practices when writing your own token sale. If you do however have any questions about how this stuff actually should work. Email me at [email protected]
You might not have known about the Approval parts of ERC-20 Protocol
So ERC-20 Protocol Tokens actually have an approval function where other Ethereum wallets can send or receive tokens for you. It's a really interesting concept since at first I thought ERC-20 was purely just for token sales haha!