[Fun] What will tokens running on Cardano be called? As opposed to ERC20 tokens on Ethereum?

Hi,
So I brought this subject up because there are tokens on the Etheurum block chain with a class name of ERC20 generically, and there are hundreds of ERC20 tokens. One of those tokens is Traxia also known as TMT which is an ERC20 token. Other tokens like Sirin (SRN) is ERC20, and Sp8de (SPX) is also ERC20. The name ERC means “Ethereum Request for Comment” and ERC20 was the 20th proposal. So calling a Cardano token and ERC20 does not sound appropriate.

We know TMT is definitely migrating to Cardano, SRN could possibly as well, and SPX will migrate to Cardano as an independent effort on their own. Along with many others over the next few years. What do you suppose the name of this new class of tokens will be?

Here are some examples of token class names discussed on telegram:

Cardano Ecosystem = CES
Cardano Improvement Proposal = CIP1
Cardano Recommended Change = CRC (3 letters already taken on CMC)

Other names could be in the order of a famous scientist, mathematician or Ancient Greek mythology or history following the Cardano naming methods. Maybe a name has already been decided? What are your thoughts? What would you like call a Cardano token?

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As I understand it, tokens won’t have to change in any way to migrate from Ethereum, so I don’t know why what they’re called would change. Unless I’ve gotten it wrong, of course…

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I hope they name them something other than ERC20, it will be good to easily recognize the difference, Ethereum will be around for a long time I suppose and so more ERC20 tokens will continue to be produced on its platform, and then you will have tokens on Cardano that probably should not have the branding of Ethereum, so hopefully a good name is chosen.

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Interesting concept Rob. If there is no change required that would mean the thousands of ERC20 on Ethereum can just hop on over.

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ERC20 is a standard, so it doesn’t need a name change. Just like Solidity or BIP39 don’t have their names changed, despite being supported in Cardano. If people port their Solidity programs over as they are, which implement this standard, they’ll remain ERC20 compliant. These are legitimally called ERC20 tokens, regardless of what platform they’re running on.

Cardano’s user-issued asset standard will be a completely different thing, so it will have a different name of course.

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Thanks for the insight, again! Wow you know your stuff brother.

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