There is a single ERC20 token that has no team, no project, no roadmap. Here is why that is so weird. infernal_toast Follow Nov 11, 2018 · 2 min read

Since the Ethereum ERC20 tokens craze began, a lot of people have realized some interesting aspects in retrospect. For example, take this one:

Almost all ERC20 tokens are not mined using Proof of Work, even though most cryptos that had come before it were mined with Proof of Work. Instead, they are all minted for the deployer, the Monarch.

That is very odd. Why is this? Well, thats easy: it is because that it is most simple way to make an ERC20 token, it takes very few lines of code and so became part of the most defacto-standard. It is no worry however, because

Each of these tokens is tied to a Centralized Company or Team with a clear roadmap towards making PROFITS. Even though, almost all traditional, normal cryptocurrencies have no central entity and do not seek pure profits.

Well, what in the world happened? It is easy to see that

Because these non-mined tokens were all made from thin-air, they must have a centralized team and project associated or else the token contract would be non-unique and non-scarce. With no team the token would be easily copyable and thus worth 0, not unlike a notepad file.

Therefore all ERC20 tokens must have a centralized team and profitable roadmap in order to have value, correct?

No, you can use EIP918 to make a pure mined ERC20 currency that is beholden to no-one. It will have no centralized company and will not need to make profits or dodge the law, it will be invulnerable and completely peer-to-peer like Bitcoin.

Brought to you by the folks behind EIP918: