Ethereum developers refine ERC-20 while Vitalik Buterin is not satisfied with current ICOs in general

The development team of Ethereum protocol of the eponymous cryptocurrency, the second largest after Bitcoin, has prepared a new set of standards that establishes rules for future tokens issued with the help of Ethereum smart contracts. These contracts often serve as a base for many tokens used in initial coin offerings (ICO).

The ERC-20 also sets a new level of required security and safe environment for tokens based around the Ethereum smart contracts.

Vitalik Buterin, the founder of Ethereum, has lately expressed his dissatisfaction with the current status of the ICOs around the world. In Israel, he told that ICOs often result in conflicts and that we are all in the middle of an economic bubble. As cited by Finance Magnates:

“I indeed think that we are in a bubble because all the cryptocurrencies are rising and people have a feeling that they will always continue to rise. A lot of projects are raising more money than what they would be able to in the normal VC market, and sometimes there is no match between the necessity and usefulness of the project and its ability to raise money. Additionally, this market is still young and people still don’t know how to differentiate between projects that will exist in the long term and those that won’t. This thing is growing at a rate that makes it hard to control. I, for example, don’t participate in most ICOs because I think they are done at too high valuations.”