0xjac · 0xjac · Sep 24, 2018 · Sep 24, 2018 · Sep 24, 2018 · Sep 25, 2018
diff --git a/abstract.md b/abstract.md
@@ -1 +1 @@
-The Ethereum Ecosystem allows for the verifiable execution of programs in a trusted manner thanks to smart contracts. One of the most common contracts is the implementation of a token---the digital representation of an asset---and most implementations follow the ERC20 Token Standard. The ERC20 Token Standard is however loosely defined and flawed. Various implementations which follow the ERC20 standard, have unclear and unexpected behaviours. Developers also tend to combat the limitation of ERC20 by supplementing their token implementation with non-standard and more complex features which often leads to severe bugs. In this thesis, we analyse the shortcomings and flaws of ERC20 and submit two new standard proposals: ERC777 and ERC820 aimed at not only solving the drawbacks of ERC20 but at offering new and exciting new features as well. The goal is to provide a better alternative to ERC20 which improves the safety, security and ease of use of tokens for the end user, as well as facilitate the work of blockchain developers by providing a modular reference implementation of a token. Developers can readily use this implementation to create their tokens without relying on incorrect, unsafe and non-standard features and implementations. Furthermore, we discuss the time spent interacting with and gathering feedback from, the community which is critical to have our proposals officially accepted and adopted by the Ethereum community. Subsequently, we provide an analysis of competing proposals which take a different approach with the same aim of addressing some of the issues of ERC20. Finally, we elaborate on the future steps of ERC777, such as further research on some of its new features, the formal verification of the reference implementation and even external tools which can assist with the design of more efficient implementations of both ERC777 tokens and other programs in general.
+The Ethereum Ecosystem allows for the verifiable execution of programs in a trusted manner thanks to smart contracts. One of the most common contracts is the implementation of a token---the digital representation of an asset---and the vast majority of implementations follow the ERC20 Token Standard. However, the ERC20 Token Standard is loosely defined and flawed. Various implementations which follow the ERC20 standard, have unclear and unexpected behaviours. Developers also tend to combat the limitation of ERC20 by supplementing their token implementation with non-standard and more complex features which often leads to severe bugs. In this thesis, we analyse the shortcomings and flaws of ERC20 and submit two new standard proposals: ERC777 and ERC820 aimed at not only solving the drawbacks of ERC20 but at offering new exciting features as well. The goal is to provide a better alternative to ERC20 which improves the safety, security and ease of use of tokens for the end user, as well as facilitate the work of blockchain developers by providing a modular and reusable reference implementation of a token. Developers can readily use this implementation to create their own tokens without relying on incorrect, unsafe, and non-standard features or implementations. Furthermore, we discuss the time spent interacting with and gathering feedback from the community which is critical to have our proposals officially accepted and adopted by the Ethereum community. Subsequently, we provide an analysis of competing proposals which take a different approach with the same aim of addressing some of the issues of ERC20. Finally, we elaborate on the future steps of ERC777, such as further research on some of its new features, the formal verification of the reference implementation and even external tools which can assist with the design of more efficient implementations of both ERC777 tokens and other programs in general.
diff --git a/acknowledgements.md b/acknowledgements.md
@@ -4,8 +4,8 @@ Secondly, I would like to thanks Professor Cesare Pautasso, for his kindness and
 
 In the third place, I would also like to thank, Samantha Rosso who supported me on a personal level and more importantly promptly and efficiently designed the final version of the logo for ERC777 based on our doodles and according to our (fastidious) prerequisites. I am thankful she agreed to waive licensing rights after the fact to allow us to put the logo in the public domain.
 
-Adjacently, I would like to thank anyone who helped and is currently helping ERC777 and ERC820 advance and improve through feedback on the GitHub issues or privately, through discussion online and in person, and by donating their time. This include but is not limited to many members of Giveth, Aragon, Truelevel, Web3 and attendees of EthCC in Paris in March 2018 as well as many people on the Github issues, including but not limited to Micah Zoltu, Nick Johnson, Alex Van de Sande, Jim McDonald, Dave Appleton, Chris Drake and Fabian Vogelsteller.
+Adjacently, I would like to thank anyone who helped and is currently helping ERC777 and ERC820 advance and improve through feedback on the GitHub issues or privately, through discussion online and in person, and by donating their time. This include but is not limited to many members of Giveth, Aragon, TrueLevel, Web3 Foundation and attendees of EthCC in Paris in March 2018 as well as many people on the Github issues, including but not limited to Micah Zoltu, Nick Johnson, Alex Van de Sande, Jim McDonald, Dave Appleton, Chris Drake and Fabian Vogelsteller.
 
-Subsequently, I would like to thank Bity and in particular its CEO Alexis Roussel and CTO Alejandro Avilés (OmeGak) for allowing to work on my thesis during company time as well as to provide me with the necessary contacts to assist me during my thesis.
+Subsequently, I would like to thank Bity and in particular the CEO Alexis Roussel and the CTO Alejandro Avilés (OmeGak) for allowing me to work on my thesis during company time as well as to provide me with the necessary contacts to assist me during my thesis.
 
 Finally, I would like to express a big thanks to Thomas Shababi who agreed to be my co-advisor and devoted a significant amount of his time to follow me and assist me over the course of an entire year both with technical and human aspects of my work.
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		The Ethereum Ecosystem allows for the verifiable execution of programs in a trusted manner thanks to smart contracts. One of the most common contracts is the implementation of a token---the digital representation of an asset---and most implementations follow the ERC20 Token Standard. The ERC20 Token Standard is however loosely defined and flawed. Various implementations which follow the ERC20 standard, have unclear and unexpected behaviours. Developers also tend to combat the limitation of ERC20 by supplementing their token implementation with non-standard and more complex features which often leads to severe bugs. In this thesis, we analyse the shortcomings and flaws of ERC20 and submit two new standard proposals: ERC777 and ERC820 aimed at not only solving the drawbacks of ERC20 but at offering new and exciting new features as well. The goal is to provide a better alternative to ERC20 which improves the safety, security and ease of use of tokens for the end user, as well as facilitate the work of blockchain developers by providing a modular reference implementation of a token. Developers can readily use this implementation to create their tokens without relying on incorrect, unsafe and non-standard features and implementations. Furthermore, we discuss the time spent interacting with and gathering feedback from, the community which is critical to have our proposals officially accepted and adopted by the Ethereum community. Subsequently, we provide an analysis of competing proposals which take a different approach with the same aim of addressing some of the issues of ERC20. Finally, we elaborate on the future steps of ERC777, such as further research on some of its new features, the formal verification of the reference implementation and even external tools which can assist with the design of more efficient implementations of both ERC777 tokens and other programs in general.
		The Ethereum Ecosystem allows for the verifiable execution of programs in a trusted manner thanks to smart contracts. One of the most common contracts is the implementation of a token---the digital representation of an asset---and the vast majority of implementations follow the ERC20 Token Standard. However, the ERC20 Token Standard is loosely defined and flawed. Various implementations which follow the ERC20 standard, have unclear and unexpected behaviours. Developers also tend to combat the limitation of ERC20 by supplementing their token implementation with non-standard and more complex features which often leads to severe bugs. In this thesis, we analyse the shortcomings and flaws of ERC20 and submit two new standard proposals: ERC777 and ERC820 aimed at not only solving the drawbacks of ERC20 but at offering new exciting features as well. The goal is to provide a better alternative to ERC20 which improves the safety, security and ease of use of tokens for the end user, as well as facilitate the work of blockchain developers by providing a modular and reusable reference implementation of a token. Developers can readily use this implementation to create their own tokens without relying on incorrect, unsafe, and non-standard features or implementations. Furthermore, we discuss the time spent interacting with and gathering feedback from the community which is critical to have our proposals officially accepted and adopted by the Ethereum community. Subsequently, we provide an analysis of competing proposals which take a different approach with the same aim of addressing some of the issues of ERC20. Finally, we elaborate on the future steps of ERC777, such as further research on some of its new features, the formal verification of the reference implementation and even external tools which can assist with the design of more efficient implementations of both ERC777 tokens and other programs in general.