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I'm checking a lot of deployed ERC20 Token Contracts and haven't found one that uses the standard template https://ethereum.org/token#the-coin?

May you please enlighten me why? Is there something missing from this template?

From the article they mentioned the "Proof of Work" but didn't include it in the code?

Then there's no explanation why they'd added the destroy tokens section. What exactly this function for?

Please see below codes

pragma solidity ^0.4.16;

interface tokenRecipient { function receiveApproval(address _from, uint256 _value, address _token, bytes _extraData); }

contract MyToken {
    // Public variables of the token
    string public name;
    string public symbol;
    uint8 public decimals;
    uint256 public totalSupply;

    // This creates an array with all balances
    mapping (address => uint256) public balanceOf;
    mapping (address => mapping (address => uint256)) public allowance;

    // This generates a public event on the blockchain that will notify clients
    event Transfer(address indexed from, address indexed to, uint256 value);

    // This notifies clients about the amount burnt
    event Burn(address indexed from, uint256 value);

    /**
     * Constrctor function
     *
     * Initializes contract with initial supply tokens to the creator of the contract
     */
    function MyToken(
        uint256 initialSupply,
        string tokenName,
        uint8 decimalUnits,
        string tokenSymbol
    ) {
        balanceOf[msg.sender] = initialSupply;              // Give the creator all initial tokens
        totalSupply = initialSupply;                        // Update total supply
        name = tokenName;                                   // Set the name for display purposes
        symbol = tokenSymbol;                               // Set the symbol for display purposes
        decimals = decimalUnits;                            // Amount of decimals for display purposes
    }

    /**
     * Internal transfer, only can be called by this contract
     */
    function _transfer(address _from, address _to, uint _value) internal {
        require(_to != 0x0);                               // Prevent transfer to 0x0 address. Use burn() instead
        require(balanceOf[_from] >= _value);                // Check if the sender has enough
        require(balanceOf[_to] + _value > balanceOf[_to]); // Check for overflows
        balanceOf[_from] -= _value;                         // Subtract from the sender
        balanceOf[_to] += _value;                           // Add the same to the recipient
        Transfer(_from, _to, _value);
    }

    /**
     * Transfer tokens
     *
     * Send `_value` tokens to `_to` from your account
     *
     * @param _to The address of the recipient
     * @param _value the amount to send
     */
    function transfer(address _to, uint256 _value) {
        _transfer(msg.sender, _to, _value);
    }

    /**
     * Transfer tokens from other address
     *
     * Send `_value` tokens to `_to` in behalf of `_from`
     *
     * @param _from The address of the sender
     * @param _to The address of the recipient
     * @param _value the amount to send
     */
    function transferFrom(address _from, address _to, uint256 _value) returns (bool success) {
        require(_value <= allowance[_from][msg.sender]);     // Check allowance
        allowance[_from][msg.sender] -= _value;
        _transfer(_from, _to, _value);
        return true;
    }

    /**
     * Set allowance for other address
     *
     * Allows `_spender` to spend no more than `_value` tokens in your behalf
     *
     * @param _spender The address authorized to spend
     * @param _value the max amount they can spend
     */
    function approve(address _spender, uint256 _value)
        returns (bool success) {
        allowance[msg.sender][_spender] = _value;
        return true;
    }

    /**
     * Set allowance for other address and notify
     *
     * Allows `_spender` to spend no more than `_value` tokens in your behalf, and then ping the contract about it
     *
     * @param _spender The address authorized to spend
     * @param _value the max amount they can spend
     * @param _extraData some extra information to send to the approved contract
     */
    function approveAndCall(address _spender, uint256 _value, bytes _extraData)
        returns (bool success) {
        tokenRecipient spender = tokenRecipient(_spender);
        if (approve(_spender, _value)) {
            spender.receiveApproval(msg.sender, _value, this, _extraData);
            return true;
        }
    }

    /**
     * Destroy tokens
     *
     * Remove `_value` tokens from the system irreversibly
     *
     * @param _value the amount of money to burn
     */
    function burn(uint256 _value) returns (bool success) {
        require(balanceOf[msg.sender] >= _value);   // Check if the sender has enough
        balanceOf[msg.sender] -= _value;            // Subtract from the sender
        totalSupply -= _value;                      // Updates totalSupply
        Burn(msg.sender, _value);
        return true;
    }

    /**
     * Destroy tokens from other ccount
     *
     * Remove `_value` tokens from the system irreversibly on behalf of `_from`.
     *
     * @param _from the address of the sender
     * @param _value the amount of money to burn
     */
    function burnFrom(address _from, uint256 _value) returns (bool success) {
        require(balanceOf[_from] >= _value);                // Check if the targeted balance is enough
        require(_value <= allowance[_from][msg.sender]);    // Check allowance
        balanceOf[_from] -= _value;                         // Subtract from the targeted balance
        allowance[_from][msg.sender] -= _value;             // Subtract from the sender's allowance
        totalSupply -= _value;                              // Update totalSupply
        Burn(_from, _value);
        return true;
    }
}
1

It's just example code, so I wouldn't rely too heavily on it. The destroy function is for burning coins (think decreasing the money supply). If you want to construct an ERC20 compliant token use the proposed standard detailed here.

EDIT: Also, the reason you are probably not seeing the Burn() function from the example in deployed ERC20 tokens is that one of the conditions an ERC20-compliant token is that the token supply be constant. Including functions like Burn() would disqualify a token from being labeled ERC20.

  • It's weird that Ethereum.org itself had suggested a non ERC20 compliant code? By the way, I have followed your link and tried to compile it but I'm getting this error " "throw" is deprecated in favour of "revert()", "require()" and "assert()". - seems this code isn't updated anymore? – Michael Lawrence Oct 1 '17 at 8:36

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