This article was first published on PolymathNetwork - Medium
The engagement from the community has been overwhelming and reinforced the need for a flexible, consensus-driven, standard for security tokens. We’ve also seen a number of other ERCs published in the same space; some with overlapping functionality and others with a different perspective or focus.
The conversation around ERC-1400 has reached a level of consensus on a number of issues, and we have updated the standard to reflect these. These are discussed in more technical detail below — we will shortly be releasing some additional guidance around ERC-1400 aimed at less technical audiences.
- Clarify use of tranches / partitions primarily as a mechanism to add transparency to the non-fungible subsets of a token holders balance.
- Ease adoption by providing a security token standard that does not include partitions.
- Move to ERC-20 from ERC-777.
- Provide a route to adoption / implementation which is more incremental.
- Modify ERC-1410 to make it un-opinionated on ERC-20 vs. ERC-777 rather than a direct descendant of ERC-777.
- Rename “tranches” to “partitions” in ERC-1410.
- Create ERC-1594 which splits out the core security token functionality.
- Create ERC-1643 which splits out document management functionality.
- Create ERC-1644 which splits out controller operation functionality.
- Modify ERC-1594 to be based on ERC-20 rather than ERC-777....
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