Content preview from Mastering Blockchain Programming with Solidity
- Ether is not ERC20 compliant, and so it does not support functions such as ERC20 which are applied on ERC20 standard token.
- Let's say that there is a contract that provides a periodic service to subscribed accounts. To subscribe for this service, the contract accepts a certain amount of a specific ERC20 token as a subscription fee. To do this, the contract must have a public or external function that calls the token.transferFrom() function and charges the caller in an ERC20 token. This way, a user can pay for the service using the ERC20 token. Note that you should not transfer the ERC20 token directly to the service contract, as you might lose your tokens.
- Yes, there are some other token standards that have been proposed, such ...
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ISBN: 9781839218262