{"id":"erc-223","version":1,"language":"en","title":"ERC-223","hidden":false,"content":"**ERC-223** (Ethereum Request for Comment) is an [Ethereum](https://iq.wiki/wiki/ethereum)-based token standard powered by [smart contracts](https://iq.wiki/wiki/smart-contract). It allows secure transfer of tokens into a digital wallet. [\\[1\\]](#cite-id-rqi2t89rxoj)  \n$$widget0 [YOUTUBE@VID](GS62VNyPVHs)$$  \n  \n# Overview  \n  \nERC-223 is a protocol upgrade for the [ERC-20](https://iq.wiki/wiki/erc-20) protocol created by an [Ethereum](https://iq.wiki/wiki/ethereum) developer identified on Reddit as “Dexaran” as a remedy to the ERC-20 bug. [\\[1\\]](#cite-id-rqi2t89rxoj)[\\[2\\]](#cite-id-rj61ixxn5oi)  \n  \nAn [ERC-20](https://iq.wiki/wiki/erc-20) bug enabled coins to be lost when users accidentally sent tokens to a[ smart contract ](https://iq.wiki/wiki/smart-contract)using the same mechanism they would use to transfer tokens to a conventional wallet. This has resulted in the loss of more than $3 million in ERC-20 tokens. [\\[2\\]](#cite-id-rj61ixxn5oi)  \n  \nERC-223’s architecture addresses this problem by allowing users to move tokens to smart contracts and wallets that provide the same purpose. While resolving the aforementioned problems, ERC-223 keeps all of the original functionality. [\\[2\\]](#cite-id-rj61ixxn5oi)  \n  \nThe transfer function checks if the destination address is a smart contract and returns tokens to the sender's account using the smart contract’s token `Fallback` function if it is, ensuring no token loss. [\\[2\\]](#cite-id-rj61ixxn5oi)  \n  \n## ERC-223 Utility  \n  \nThe ERC-223 token is powered by automated smart contracts that ensure transparent user transaction details. The ERC-223 token development platform offers investors instant liquidity and high ROI as passive income. Additionally, it allows tokens to be deposited into a contract in a single transaction, preventing additional [blockchain](https://iq.wiki/wiki/blockchain) bloat. [\\[1\\]](#cite-id-rqi2t89rxoj)[\\[2\\]](#cite-id-rj61ixxn5oi)  \n  \nThe ERC 223 token creation platform has multi-level security features including HTTP authentication, end-to-end encryption, and escrow protection to prevent hacking. [\\[1\\]](#cite-id-rqi2t89rxoj)  \n  \n# Technology  \n  \nERC223 tokens should be sent by calling the `transfer` function on token contract with no difference if the receiver is a contract or a wallet address.  \n  \n* If the receiver is a wallet, an ERC223 token transfer will be identical to an [ERC20](https://iq.wiki/wiki/erc-20) transfer.  \n* If the receiver is a contract, the ERC223 token contract will try to call the `tokenReceived ` function on the receiver contract. If there is no `tokenReceived` function on the receiver contract, the transaction will fail. [\\[3\\]](#cite-id-ca4og87vhwn)","summary":"ERC-223 is an Ethereum-based token standard, an upgrade of ERC-20, allowing secure token transfers into digital wallets and solving the ERC-20 bug.","categories":[{"id":"cryptocurrencies","title":"Cryptocurrencies"}],"promoted":0,"tags":[{"id":"Ethereum"},{"id":"Glossary"}],"metadata":[{"id":"references","value":"[{\"id\":\"rqi2t89rxoj\",\"url\":\"https://coinmarketcap.com/alexandria/glossary/erc-223\",\"description\":\"alexandria - erc-223\",\"timestamp\":1691659480904},{\"id\":\"rj61ixxn5oi\",\"url\":\"https://www.blockchain-council.org/ethereum/ethereum-tokens-erc-20-vs-erc-223-vs-erc-777/\",\"description\":\"Ethereum Tokens: ERC 20 Vs. ERC 223 Vs. ERC 777\",\"timestamp\":1691662347841},{\"id\":\"ca4og87vhwn\",\"url\":\"https://callisto.network/erc223-token-standard/\",\"description\":\"ERC 223 Token Standard\\n\",\"timestamp\":1691663752691}]"},{"id":"previous_cid","value":"QmaTNNYVAVqbbrLrCumvetQmVGs9P8dkFB8mZvTMBNN2Yu"}],"user":{"id":"0x6753061a4cffbc0A617e57E956A298D88702a94B"},"author":{"id":"0x212Cb3F4aE6611054637f9f78F18fB628AD258bb","profile":{"username":"zainab","avatar":"QmZzhTxNPnCKWpsPJtS1YeZUiZ5vFSNHCeStpigLs2pRNt"}},"media":[{"name":"GS62VNyPVHs","id":"https://www.youtube.com/watch?v=GS62VNyPVHs","size":"0","type":null,"source":"YOUTUBE"}],"views":35,"events":[],"ipfs":"QmaTNNYVAVqbbrLrCumvetQmVGs9P8dkFB8mZvTMBNN2Yu","transactionHash":"0x3ed97c3cd2221ad38ef578dfc5621980415bed33da21fb9041ef821f3eb379c3","created":"2023-08-10T10:40:03.172Z","updated":"2023-08-10T10:40:03.172Z","linkedWikis":null,"images":[{"id":"QmUntQJXfJfgUYULpLy6RGn1GXHg7HRYxyTR1sf7rXafBd","type":"image/jpeg, image/png"}]}