Topic: ERC20 gives birth to too many shitcoins - page 2. (Read 1362 times)
Be the first blockchain to run smart contract and a very easy to know blockchain , it has really give birth to shitcoin truly and has turn the crypto to something else , but the team need to checkmate the token running under their blockchain to curve scam in the industry , cos lot of scam project run under this ETH and never do anything to really make the industry worthy.
there are plenty of other shitcoins built on other blockchains, but ethereum takes care of a lot of the heavy lifting required when making a new shitcoin
That's right, actually there are too many shitcoins on erc20. I was really depressed because I had spent a long time working on campaigns and what I got was shitcoins. Creating fraudulent money codes is easy on the ethereum blockchain through projects with crazy ideas but still approved. Then the project is not successful, the token does not go up the exchange and that leads to the scam. Therefore, I hope that shitcoins will gradually decrease, which helps bounty hunters to continue their work.
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Yes, they make the process of creating an own coin easier. So everyone could easily create a cryptocurrency, but it depends on us if we invest into everything.
If we start counting all useless tokens in crypto space you will notice that most of this useless tokens are running on erc20 block chain ,many good altcoins ive came across have separate owned block chain and they are plain better, I guess the reason we have too many shit altcoins in crypto space is because of the flexibility of erc20 ,making it easy for unprofessionals to build there useless tokens.
We have some good altcoins that are running on erc20 but you will see then moving to their own block chain later on or it will be included in their roadmap about the future swap.
The reason why I like tron block chain is the ability to get rid of fake tokens running on tron blockchain if ethereum can do this it will help a lot.
My answer is too many shitcoins are based on erc20.
It has long been clear to everyone that the Ethereum platform is a collection of any shitcoin , I think it is not necessary to literally perceive that the future is behind this platform , for me this platform is purely for speculation designed for this coins. We have some good altcoins that are running on erc20 but you will see then moving to their own block chain later on or it will be included in their roadmap about the future swap.
The reason why I like tron block chain is the ability to get rid of fake tokens running on tron blockchain if ethereum can do this it will help a lot.
My answer is too many shitcoins are based on erc20.
Yes, you are right. As it is easy and old and it is also very big that's why scammers and shit people picked ERC20 platform to run their projects! Where a lot of good altcoins are running based ERC20 too! This is the lacking of ERC20 platform where Binance chain accepting projects manually, ERC20 is open for anyone!
Creating shitcoin basing on ERC20 token platform is pretty easy thats why we do see that this market is being flooded out by those type of coins but there are really some other platforms which is also good but smartcontracts is remarkable thats why its been commonly used not only for legitimate projects but also for fraud shitcoins just to scam out investors.
yes lots of shitcoin / altcoin die because they have no further development, as developers / teams in their projects have left and don't care about their road maps anymore and in the end make altcoin dead / worthless at all. and you cannot fully assume that it is caused by the erc20 platform? That is not true. because the erc20 platform has so far developed well, the question is how developers develop their erc20 tokens, because the important role in the project is the developer of the project.
Those projects die not only because there are less demands from investors over time, or their developers abandoned those projects, but also due to the high competition in crypto. New projects born every day, and by now we even heard about blockchain 4.0. Old projects, if not grown, adapted will be hardly to survive over years.It's easy to make tokens for people who understand smart contracts in the ethereum network. This is used by people who are not responsible for fraud and selling it to investors.
I think this happened because there was no clear regulation from the government regarding the sale of tokens based on the project being worked on. If there is a verification of the project and tokens, I think this could eliminate fraud at the ICO
yes I see that erc20 is the best and easiest platform for creating new tokens. this was used by several people to make the project. After the project was finished they managed to raise funds and they did not notice that their tokens were slowly dying and worthless.
yes lots of shitcoin / altcoin die because they have no further development, as developers / teams in their projects have left and don't care about their road maps anymore and in the end make altcoin dead / worthless at all. and you cannot fully assume that it is caused by the erc20 platform? That is not true. because the erc20 platform has so far developed well, the question is how developers develop their erc20 tokens, because the important role in the project is the developer of the project.
Those projects die not only because there are less demands from investors over time, or their developers abandoned those projects, but also due to the high competition in crypto. New projects born every day, and by now we even heard about blockchain 4.0. Old projects, if not grown, adapted will be hardly to survive over years.
Oh, can Tron developers or community single-handedly get rid of "Fake tokens"? Interesting.
This is another reason not to see Tron as real blockchain. I probably shouldn't waste my time researching about the Blockchain.
If there must be removal of fake tokens, it must be automated and decentralized.
I would rather not remove anything. I would grade the tokens instead and give the best/good ones enough visibility within the Blockchain communities.
This is another reason not to see Tron as real blockchain. I probably shouldn't waste my time researching about the Blockchain.
If there must be removal of fake tokens, it must be automated and decentralized.
I would rather not remove anything. I would grade the tokens instead and give the best/good ones enough visibility within the Blockchain communities.
yes lots of shitcoin / altcoin die because they have no further development, as developers / teams in their projects have left and don't care about their road maps anymore and in the end make altcoin dead / worthless at all. and you cannot fully assume that it is caused by the erc20 platform? That is not true. because the erc20 platform has so far developed well, the question is how developers develop their erc20 tokens, because the important role in the project is the developer of the project.
yes right erc20 gave birth to a lot of shitcoin but on the other hand it also produced a big and successful project so we cannot conclude that erc20 is bad, basically erc20 was created for good purposes but some people use it for personal gain, tron is a newcomer and of course tron blokchain understands the loophole of ethereum blokchain.
Well that a fact and at the same time it gave some projects the opportunity to launch and most of them are huge today all thanks to Ethereum blockchain. In my own opinion, Ethereum did something wonderful and helpful while on the other hand human nature led to many shitcoins being developed.
My answer is too many shitcoins are based on erc20.
Anyone can create tokens and smart contracts on the Ethereum blockchain because it's free and quite easy if you have time to learn. That is why ETH is in the second position on the current CMC as the most popular blockchain platform today. But think positively, it has brought many opportunities to many people to take advantage of it. 
Of course, anonymity for cryptocurrency owners is good, but I’ve been tired of seeing a lot of junk coins on the cryptocurrency market. Everyone thinks the devil knows what and is trying to create his own Coins, which are not interesting to anyone and only misleads investors and other users of cryptocurrency. It is in such cases that I strongly advocate that the ico market for companies be regulated.
This is a typical example iof why power shouldn't be in the hands of everybody because many of them would definitely abuse it, some go as far as creating clone tokens with the express purpose of defrauding others, but if ethereum can implement that feature you mentioned, I think it would be way better.
And here the ERC-20 protocol to projects that can do nothing. The most common blockchain in the world on which everyone can create their own coin. Do not blame ETH in this invest only in decent work projects. And there is no problem.
I think ERC-20 is the most common and easy token to make tokens there. But with the development getting better only good tokens that will survive are not shitcoin, while for tron they may not be able to match ERC-20 now so they still have a loophole to fix their mistakes if they are big like ERC-20 maybe it will also just like them.
ERC20 is not the responsible of shitcoins. It just happens that scammers take advantage the weakness part. Some real project didn't succeeded due to unreachable goal because of unpredictable motion of market flow.
Ethereum gives birth not only to shitcoins , many decent and big companies issued their ERC20 tokens too . If the process of creating a token on the ethereum blockchain is so simple that it can be used by ordinary people, then I do not see anything wrong with that.
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