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we know that there is new update for ERC20 that is ERC-223 now wich one should we use ?

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Negative.

Only a few projects use the ERC 223, an example is the AmigoCoin project. It is absolutely not advisable to launch today an ERC223 without considering newer standards like erc777 or so.

Erc20 is simple and largely improvable, but it IS the standard for ETH based tokens as resulting today.

  • so you suggest ERC20 (for ETH base tokens) ? – developeroka Sep 17 '18 at 17:32
  • At the moment yes. Erc223 is no more listed in EIP proposal, even if I liked it. You have two alternatives: ERC20 or moving to newer PROPOSED ONLY standard, like ERC777. If you are going to work it out now you are, as a matter of fact, obliged to guarantee a working ERC20 interface. – Rick Park Sep 17 '18 at 17:47
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    helpful comment. Tnx – developeroka Sep 17 '18 at 17:58
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ERC-223 is backwards compatible with ERC-20 and provides a couple of nice safety measures. I would go for ERC-223.

  • The retrocompatibility of ERC223 is to be demonstrated at all, even considering the evolution of the Ethereum platform. Pay attention to this. – Rick Park Sep 17 '18 at 8:22
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    @RickPark Can you elaborate what you mean by demonstrating retrocompatibility? The ERC20 interface is a subset of the ERC223 interface, what needs to be proven? – sebastianmm Mar 25 at 17:12
  • This is not completely true. Try to compare the ABI of the same functions and you will discover that they are different in the majority of the cases. This means that you NEED TO KNOW you are talking to an ERC223 in order to interface with it. If it was truly retro compatible you simply should have been able to talk to it using ERC20 or ERC223 interface and either those cases should have been fully working. – Rick Park Mar 28 at 6:04
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  1. ERC-223 helps to stop the loss of tokens (e.g. in case they were sent to the non-compatible or wrong contract).
  2. It also consumes less gas since the token transfer is a one-step process (instead of 2 steps in ERC-20).
  3. However, take into consideration the ATN incident that happened on March 5th, 2017.

    ERC-223 ATN incident

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ERC-20 is recommended option, accepted by most exchanges. ERC-223 tokens are tokens similar to ERC-20 tokens and used only on Ethereum network. ERC-223 is a newer standard with an improvements over ERC-20 standard. The standard eliminates lost tokens in certain conditions when sending tokens, better handling of incoming token transactions, and energy and gas savings.

You can check out the erc20 and erc223 token generating service for easy and simple custom token creation. The link is: https://tokenmint.io

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