Dear Crypto Enthusiasts,
Considering all the feedback provided to us and security issues of the old version, we take a decision to update our smart contract. Furthermore, we received many external calls that old contract’s transfer is quite GAS expensive, and this is another point to launch a new version.
Finally, the old ERC20 standard is not that satisfactory in terms of efficiency, so we decided to switch to ERC223.
Main advantages of the ERC223:
1. Comparing to ERC20, ERC223 standard is much more energy efficient, as this is a one-step process, and it involves two times less GAS, while not requiring additional blockchain bloating. Thus, it makes the transaction fees much lower than before.
2. The problem of lost tokens, which occurs with ERC20 tokens (specifically happening when users follow improper instructions for sending tokens to a wallet), is resolved. ERC223 standard makes it possible for token holders to transfer the funds to wallet or contract with the same function transfer, and this prevents the token loss and eliminates all the possible confusion.
3. With ERC223 developers are able to handle incoming transactions and reject non-supported tokens. This means users’ tokens won’t get lost, they will be returned back in full amount with only a GAS fee applied.
Also, everything that was built for ERC20 (wallets, for example) will also work with a newer standard, ERC223, as both tokens standards are fully compatible with each other.
All the wallets and side services that are not smart-contracts support ERC223 by default, as the ERC20’s input call data is also valid for ERC223.
Plans for future
There are many plans ahead of us. For example, we are currently discovering possibilities to create a Mainnet for CRAD, which will be based on Directed Acyclic Graph (DAG). Together with a near-zero cost, it would provide us with a massive throughput global decentralized payment system.
Smart contract updated structure
The new CRAD CASH (CRAD) will be deposited directly to the holders of old CryptoAds tokens (CRAD) tokens after we take the snapshot of the Ethereum blockchain. This is going to happen on 19/04/2019 at 18:00 GMT.