LUCRE Token (LCRT) — ERC223

Dear Community,

We have listened to your feedback and we have decided to update our smart contract. This is mainly due to security risks that came with the old version and number of external calls that made transfers of our old contract very GAS expensive.

Additionally, we have decided to migrate from old ERC20 standard to more efficient ERC223.

ERC223 standard has 3 key advantages:

1. Eliminates the problem of lost tokens which happens during the transfer of ERC20 tokens to a contract (when people mistakenly use the instructions for sending tokens to a wallet). ERC223 allows users to send their tokens to either wallet or contract with the same function transfer, thereby eliminating the potential for confusion and lost tokens.

2. Allows developers to handle incoming token transactions and reject non-supported tokens. In this case, you won’t lose the tokens as it will be refunded back to you minus the Gas, something that is not possible with ERC20.

3. Energy efficiency — the transfer of ERC223 tokens to a contract is a one-step process rather than 2 step process (for ERC20), and this means two times less Gas and no extra blockchain bloating. This, as a result, also lowers the transaction fees one pays for the transfer of tokens.

Moreover, ERC223 tokens are compatible with ERC20. Everything that is designed to properly work with ERC20 (like wallets) can work with ERC223 as well.

As for wallets and any third-party services that are not smart-contracts, they support ERC223 automatically because the input call data of ERC20 token is valid for ERC223.

New Smart-Contract:

LUCRE TOKEN (LCRT)

https://etherscan.io/address/0xbfd4c175606ab6e8d1e32d029d8c010a9bf4bd36