Topic: Projects are abusing blockchain technology. - page 4. (Read 18157 times)
many found the moment things such as what is discussed. the blockchain is used to draw attention to investors who do not carefully see where the direction of the project. with only blockchain words without regard for the project as a whole then this would be a self defeating thing when thus entered therein.
Yes, there is such problem. Basicly I can split all ICOs in 3 different groups:
1- blockchain infrastructure projects, where blockchain is a primarly purpose
2- projects, where blockchain is used indirectly
3- ICOs which use blockchain just to collect money.
1- blockchain infrastructure projects, where blockchain is a primarly purpose
2- projects, where blockchain is used indirectly
3- ICOs which use blockchain just to collect money.
I have been just in the crypto world for 5 months. I have tried to learn about blockchain, bitcoin, altcoins,... and I realize that blockchain is being abused.
Many projects are launched with the ideas of using blockchain. But actually, blockchain is not necessary to implement their projects. It just seems to follow the trend of tokenization. And their tokens are utility tokens, real "utility", which are utilized to raise their funds. There is no reality application of blockchain. I think everything will be good if it is enough. Will blockchain become worst if they continuely abuse it?
What do you think about this problem?
Many projects are launched with the ideas of using blockchain. But actually, blockchain is not necessary to implement their projects. It just seems to follow the trend of tokenization. And their tokens are utility tokens, real "utility", which are utilized to raise their funds. There is no reality application of blockchain. I think everything will be good if it is enough. Will blockchain become worst if they continuely abuse it?
What do you think about this problem?
Yeah, you have just described the reason of the crisis that we can face. People do not want to buy tokens of these projects and they die pretty fast.
I have been just in the crypto world for 5 months. I have tried to learn about blockchain, bitcoin, altcoins,... and I realize that blockchain is being abused.
Many projects are launched with the ideas of using blockchain. But actually, blockchain is not necessary to implement their projects. It just seems to follow the trend of tokenization. And their tokens are utility tokens, real "utility", which are utilized to raise their funds. There is no reality application of blockchain. I think everything will be good if it is enough. Will blockchain become worst if they continuely abuse it?
What do you think about this problem?
Indeed, there are now a number of projects that use Blockchain technology and create an ICO project to attract investment. That really does not make Blockchain technology even more powerful. We really need supporters of this technology to be able to empower them. Now Blockchain technology has become a capital calling tool and we can not let it go any further. Many projects are launched with the ideas of using blockchain. But actually, blockchain is not necessary to implement their projects. It just seems to follow the trend of tokenization. And their tokens are utility tokens, real "utility", which are utilized to raise their funds. There is no reality application of blockchain. I think everything will be good if it is enough. Will blockchain become worst if they continuely abuse it?
What do you think about this problem?
I think that the world is moving towards the tokenisation and I do not see anything bad in this process. It would be awesome if some big companies like Amazon or Google will release their own token. But we should select the projects that would have a place in the crypto space. I think it is a must for every ICO to have a working product.
There are actually a lot of such projects. They use blockchain to conduct ICO and raise funds, in fact, blockchain technology is not necessary for most projects.
Blockchain is a common platform that is needed by all tokens on the market. Banal for transactions from one user to another!
That is why you need to learn for some time to be capable of making right investments. Good for you that you have got it before loosing money.
I have been just in the crypto world for 5 months. I have tried to learn about blockchain, bitcoin, altcoins,... and I realize that blockchain is being abused.
Many projects are launched with the ideas of using blockchain. But actually, blockchain is not necessary to implement their projects. It just seems to follow the trend of tokenization. And their tokens are utility tokens, real "utility", which are utilized to raise their funds. There is no reality application of blockchain. I think everything will be good if it is enough. Will blockchain become worst if they continuely abuse it?
What do you think about this problem?
Many projects are launched with the ideas of using blockchain. But actually, blockchain is not necessary to implement their projects. It just seems to follow the trend of tokenization. And their tokens are utility tokens, real "utility", which are utilized to raise their funds. There is no reality application of blockchain. I think everything will be good if it is enough. Will blockchain become worst if they continuely abuse it?
What do you think about this problem?
Does this project need blockchain is the first question that I am asking myself before making investment. In most cases, answer is no, so it is like 2 of 10 projects are fine.
This trick works only with newbies. If person have descent knowledge in the fileld of blockchain, this person would never invest in something like this.
I think most altcoins are in for a sad fate. You can see the recent trend of delisting tokens from many exchanges and, perhaps, this is true. Security tokens are generally one big question mark, if the SEC starts to analyze, then most of these assets are doomed. Therefore, now normal exchange doesn't list such projects. Who holds, at the first opportunity, fix the profit (at least on decentralized exchanges) and buy more stable assets. Utility tokens are also unlikely to bring big profits in the long term, in fact it is coupons for a certain service and I don't really understand how they can be traded on exchanges and grow in price tenfold.
This is true. Many projects just want to raise money and for this uses the word "blockchain". Because it's mainstream now. And because of this, there are problems with other projects that are really working on their project, and there are also problems for bounty hunters. It becomes more difficult to study projects because of their large number.
I have said it many times over. The Blockchain Technology has been greatly abused by some unscrupulous elements who have added no value whatsoever to this technology. It is now a common occurrence to see half baked projects running ICOs with no decent product or idea to back their projects. Their main aim is to grab as much money as possible using deceitful means and then absconding. This is now so common and it has contributed to the challenges in the crypto industry.
Honestly that is just the truth, there are a lot of abuse on block chain technology by a lot of projects. Developers of many coins just come with the aim of making some money and abscond with it, with false or without any tangible developmental roadmap through block chain. In my opinion, I think Ethereum platform is most vulnerable to this.
I do not know if we can say that the ethereum network is being abused since it was created with the purpose of facilitating the creation of new coins in the market, and this can be used for good like many developers are doing but this can also be used for bad things like what scammers are doing, at the end it is your responsibility to check if a project is a scam or not.
Honestly that is just the truth, there are a lot of abuse on block chain technology by a lot of projects. Developers of many coins just come with the aim of making some money and abscond with it, with false or without any tangible developmental roadmap through block chain. In my opinion, I think Ethereum platform is most vulnerable to this.
I have been just in the crypto world for 5 months. I have tried to learn about blockchain, bitcoin, altcoins,... and I realize that blockchain is being abused.
Many projects are launched with the ideas of using blockchain. But actually, blockchain is not necessary to implement their projects. It just seems to follow the trend of tokenization. And their tokens are utility tokens, real "utility", which are utilized to raise their funds. There is no reality application of blockchain. I think everything will be good if it is enough. Will blockchain become worst if they continuely abuse it?
What do you think about this problem?
Many are simply trying to apply wherever possible this technology. Sometimes it comes to the absurd, a sawmill or a cemetery. It is clear that such projects will not exactly get their investors, but there are very hidden projects of fraud, which at the expense of technology get a good profit.Many projects are launched with the ideas of using blockchain. But actually, blockchain is not necessary to implement their projects. It just seems to follow the trend of tokenization. And their tokens are utility tokens, real "utility", which are utilized to raise their funds. There is no reality application of blockchain. I think everything will be good if it is enough. Will blockchain become worst if they continuely abuse it?
What do you think about this problem?
The abuse of blockchain technology is actually not in the use of blockchain itself rather, in the promotion of scam project using the word blockchain to promote! I think if a project have not shown it's work on github, such project do not deserve penny from Cryptocurrency investors!
So many projects that totally abusing and lot of them is ICO scam project that always releasing and lossing money every ico that taking away investors funds.
The community is going to become worst if they continue abusing it, right now all of the coins that are following the tokenization trends are already hurting the market since they are taking money out of the market with these tokens. There has to be something done to curb the menace or else we would be waiting much longer than expected for the next bull market.
I have been just in the crypto world for 5 months. I have tried to learn about blockchain, bitcoin, altcoins,... and I realize that blockchain is being abused.
Many projects are launched with the ideas of using blockchain. But actually, blockchain is not necessary to implement their projects. It just seems to follow the trend of tokenization. And their tokens are utility tokens, real "utility", which are utilized to raise their funds. There is no reality application of blockchain. I think everything will be good if it is enough. Will blockchain become worst if they continuely abuse it?
What do you think about this problem?
Many projects are launched with the ideas of using blockchain. But actually, blockchain is not necessary to implement their projects. It just seems to follow the trend of tokenization. And their tokens are utility tokens, real "utility", which are utilized to raise their funds. There is no reality application of blockchain. I think everything will be good if it is enough. Will blockchain become worst if they continuely abuse it?
What do you think about this problem?
yes, it is an innovation even though it is actually not categorized as blockchain technology. but that's the fact that happened, I don't think there is anything that can stop those who want to develop crypto in any way.
I have been just in the crypto world for 5 months. I have tried to learn about blockchain, bitcoin, altcoins,... and I realize that blockchain is being abused.
Many projects are launched with the ideas of using blockchain. But actually, blockchain is not necessary to implement their projects. It just seems to follow the trend of tokenization. And their tokens are utility tokens, real "utility", which are utilized to raise their funds. There is no reality application of blockchain. I think everything will be good if it is enough. Will blockchain become worst if they continuely abuse it?
What do you think about this problem?
Many projects are launched with the ideas of using blockchain. But actually, blockchain is not necessary to implement their projects. It just seems to follow the trend of tokenization. And their tokens are utility tokens, real "utility", which are utilized to raise their funds. There is no reality application of blockchain. I think everything will be good if it is enough. Will blockchain become worst if they continuely abuse it?
What do you think about this problem?
yes that's right, I don't think you need to choose it if you want to invest. we all know that everything that contains the value of money there is always someone who will use it in all ways including as you discuss.
so if you want to invest or take part in a campaign, choose one that really uses the technology.
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