Topic: ERC20 gives birth to too many shitcoins - page 8. (Read 1373 times)
Going through your post, you made some valid point, but I believe by ERC20 blockchain you meant Ethereum blockchain because ERC20 is just a token standard for Ethereum. It's true that many shitcoins are erc20 based due to the open source nature of ETH blockchain allowing anyone to build a token. Also, forkdelta contributes to all these because people just list tokens unofficially there even before the team lists officially on exchange, giving weak hands a means to dump so cheap.
My answer is too many shitcoins are based on erc20.
Your are right but shitcoins are inevitable even in other smart contracts or altcoins, you just deal with it and do an effort to find valuable projects, on the other hand many quality coins were also started as a token under Ethereum smart contract, there is a good side and a bad side for it.
Yeah i think we all here know if erc20 is make a lot of shitcoin with bad progress and get over with scam.
For now, if i want to some bounty campain the first think i look is what platform it use, if it use erc20 chain i leave it.
I get enough wasted my time to shit bounty campain.
Let's be a smart bounty hunter and choose the best project to promote.
For now, if i want to some bounty campain the first think i look is what platform it use, if it use erc20 chain i leave it.
I get enough wasted my time to shit bounty campain.
Let's be a smart bounty hunter and choose the best project to promote.
This is why it is better to invest or hunt bounties in a project with its own blockchain. Not everyone can make their own blockchain but many people can deploy an erc20 token with relative ease in comparison.
Not all tokens are scams but the chances are much higher as you say.
You should never burn coins/tokens there may be some reason to own them in the future. Maybe a fork or swap or something. Maybe someone makes a project to swap put the old tokens and now you have burnt them all.
Not all tokens are scams but the chances are much higher as you say.
Yes, indeed, the problem of redundant (unnecessary) ERC20 tokens exists. I have accumulated more than 200 of this garbage. I really need the function of burning them in my wallet.
You should never burn coins/tokens there may be some reason to own them in the future. Maybe a fork or swap or something. Maybe someone makes a project to swap put the old tokens and now you have burnt them all.
Yes, indeed, the problem of redundant (unnecessary) ERC20 tokens exists. I have accumulated more than 200 of this garbage. I really need the function of burning them in my wallet.
People will do anything for money. It's not the ethereum blockchain's fault but to people behind those shitcoins. They create erc-20 token, conduct a crowdsale then promote whatever they can. some investors are still gullible to invest on these projects. They don't research well until the end of the crowdsale, the team behind it have many excuses for the delay of their exchange listings and etc. Until they just disappear like nothing happen.
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.
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.
These smart contracts platforms are the scam machine, simple as that. Scam over scam and nothing special about it, the so call smart contracts.
Some people are abusing the system by creating projects using the ERC20 then using it for scamming people or unsuccessful projects. We cannot blame them as this is why the platform is made.
You're right, a lot of crappy coins are issued every day on the ERC 20. But the whole point of Ethereum is to make a decentralized system, and issuing shitty coins is the consequences of decentralization. Nothing can be done about it, otherwise, when restricting or filtering the release of new tokens, the system will partly lose its decentralization.
My answer is too many shitcoins are based on erc20.
I would blame these coins rather than the platform. The fact that a lot of coins choose ETH as a platform for their new project just shows that the platform itself is good.
Blaming ERC20 is like saying there are some bad cars on the road, so the problem must be the road.
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.
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.
That is true because it is so easy to create one and it is cheap also and developers have full control over it, I believe over 80% of ICO are ERC20 coins, Ethereum developers should do something about this to get rid of scammers using their platform to scam people.
It is not only ERC20 that gives birth to lots of shitcoins, if you happen to have waves and see the wavesplatform dex, you can see lots of trash token out there. I think even before ETH ERC20 token were created, there are already tons of shitcoins out there created by coin generation website services.
Lol! My thoughts exactly, one of the reason i loss interest in waves, they were too many fake coin create in the waves platform to imitate the good one's and that was really confusing to many users, and the fact that this shitcoins will just show up on your wallet through airdrop unlike eth, as long as you own some waves, welcome to receive some shitcoins.
Look like you're Tron supporter, if Tron come out early than Ethereum, then Tron also have same issue as Ethereum, so I thought you can't blame Ethereum, people don't need any verification to create their own tokens without any skill, remember shit tokens not only happen on Ethereum Platform.
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.
i agree and we cant deny that ethereum have many shitcoin. but its not only happening in ethereum there also a lot shitcoin that using own blockchain or generated in other blockchain. there a lot of room for eth to grow and i dont think they will not do anything about it in the future. 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.
Tron blockchain developed it's self against the flaws of ethereum blockchain, if tron blockchain had come early before ethereum blockchain, tron blockchain will have had same issue, hopefully Vitalik will be able to do something about scam tokens that are being built on ethereum blockchain
They are all the same because there was no a verification to the company or platform before it can issued its token and look at binance chain and binance will be doing a verification to the ico that applied to use BEP2 token. That's the disadvantages of the decentralized. 
First of all: There is no "ERC20 Blockchain"... ERC20 is a standard of smart-contracts for tokens (not coins) on the Ethereum blockchain.
There might be many shitty projects and even scams but a utility-token doesn't require its own blockchain.
There might be many shitty projects and even scams but a utility-token doesn't require its own blockchain.
Scam projects hinders some promising ico project to continue pursuing their progression of different new developments. This was so struggling to altcoins community, and I think this was pulling down its economy nowadays. Shitcoins were mostly affiliated with erc20 contract catered by ethereum.
It is not only ERC20 that gives birth to lots of shitcoins, if you happen to have waves and see the wavesplatform dex, you can see lots of trash token out there. I think even before ETH ERC20 token were created, there are already tons of shitcoins out there created by coin generation website services.
I also ever think so. So many ERC tokens are heading to the shitcoins and scams. Many can create this kind of coins. That is why as crypto holders or traders, analyzing whether the tokens are valuable and trust is a must. We need to make sure that the tokens have promising concepts for the future or not.
to gains with one on confinement as developer wors on decision to collects of confirmation and manage of the development on following strategics with the plan on projection as the release of goods and service of offers from the table of marketing/merchandising with the company.
I do not think that this is a big problem for cryptocurrencies. ERC-20 tokens are the most common. Probably 80% -90 of all new tokens still go on the ethereum platform and are ERC-20 tokens. Since it’s really simple to create a token there, the number of fraudulent and useless projects and tokens will be very large. However, over time, they all leave the market and only useful coins and tokens remain on the market. True, the popularity of cryptocurrency while causing some damage. However, the number of fraudulent projects can be significantly reduced by government regulation of this type of activity.
Jump to: