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It is a specific technical detail of how ERC-20 tokens work. Your wife/brother/kids etc make transfers online from their bank account without knowing the techni
by Stevvo 5y ago
It is a specific technical detail of how ERC-20 tokens work. Your wife/brother/kids etc make transfers online from their bank account without knowing the technical details of how that transfer works.
Ideally wallets would have better UX where concepts like this could be handled safely and in an accessible manner. I think crypto isn't really ready for general consumption yet.
- rnk 5y agoThis discussion tells me once again that crypto today is similar to you have access to the backend systems of the bank and you can write database commands in sql that change things in your account records. It's insane low level access system. Transferring ownership of money via a webpage that has a source and destination on your bank webpage is understandable at a certain level. Is that the right source, is that the right destination. But you can put in 100,000 instead of 1k or 10k by accident. That's very different than if you click the 'ok' button it runs say random javascript like commands that the destination of the money wrote up. You can't ever expose that level to end users without it being an endless fraud source for people.