We have discussed the advantages and uses of Ethereum and Ethereum blockchain-based currencies throughout the previous chapters; let's now discuss some disadvantages of Ethereum-based tokens:
- Unstable: The Ethereum blockchain is still undergoing lot of changes; this also includes moving the consensus method from the PoW to the PoS system.
- Dependability: The ERC20 tokens or any other tokens are based and built on top of Ethereum. This poses a threat, since Ethereum is itself undergoing frequent changes at most times.
- Hard forks: Being dependent on another blockchain means, due to hard forks, unforeseen issues can occur.
- Sovereignty: Since the tokens are based on Ethereum blockchain, there is no say ...