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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.

This is because ETH was the first to offer smart contracts (ERC-20/721 tokens) that were very affordable to write and understand the average programmer. If the TRON with its TRC-10/20 was the first, then a similar conclusion could be made with regard to it. Why blame the "mechanism" if people themselves use it incorrectly, or rather use it for their own benefit and do not think about something else.

You have a point on this. They created the erc20 to benefit the crypto community but it was abused and still many projects are abusing this system. Any platform can be abused by scammers. As long as they can see a loophole that they can get around it, they will abuse it no matter which platform it is.

I really liked your answer and wanted to merit it but unfortunately I'm out of merit right now.

I blame naive ICO investors for this reason because there was a time when ICO investors invested in almost any token they saw back in 2015-2017 and this helped scammers to take the opportunity. The thing is, scammers always look for the right time, right opportunity to f*ck naive peoples. However, I believe the ratio is much less now because investors became smart - they are using their brains.

That's why many scammers use the blockchain ethereum. Because they easily make new tokens to market and cheat many people and it will become shitcoins in the future. So in the future there will always be shitcoins created. And I can't deduce which blockchain is better between ethereum and tron.

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.

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 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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

These smart contracts platforms are the scam machine, simple as that. Scam over scam and nothing special about it, the so call smart contracts.

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.

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.

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.

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.

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.

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. 

I agree to have too many useless tokens, the reason is because creating them is so easy at a very low cost. There are many scammers who create a token similar to the token of other projects to trick others.

Because ETH is a popular platform for projects and is an open platform, so you can't block scam projects that create tokens on the ETH platform. Many crypto have their own blockchain, but there are some powerful blockchain like ETH

some smart contract platforms have indeed begun to show growth. but there is not as good as etheruem, although many shitcoin from the use of the ethereum chain should be an important study of ethereum to improve their platform going forward.

Yes you are correct, a lot of shitcoins run on ethereum blockchain because its very easy to create smart contract. Therefore an average developer can just wake up one day and just decide to create smart contract on the ethereum blockchain. The truth is that ethereum cannot be blame for all this shitcoins but rather the blame should be the creators of shitcoins.

ETH create their smart contract scheme to help new project owners or teams to achieved their goals and just because there's a lot of shitcoin on ERC20 doesn't mean ETH is to blame.
Mind you, there will always be people who will abuse the benefit of cryptocurrency.

You simply can't decide what to do for every ERC20 team running on ETH and the last time I check there are some token owner/team who are not planning to create their own Blockchain.

Tron only achieved such reputation cause it not widely used by a lot of new project owner while ETH is and Tron have to do something which will woo some project owner which what just caught your attention.
It business strategy buddy.

That's true and we have many more to come, ERC20 platform has become the haven of scammers and it's become their tool to perpetuate their scheme because it's unregulated and they exploited it to the fullest unless there is regulation on creating a smart contract or in ICO we'll see more shitcoins in ERC20.

yes, every platform has their fair share in producing those crap projects. but since eth is the popular one and deemed to be easier to create a token (there are articles discussing how to create an eth token for an hour), it has been exploited tremendously. one group can create several projects without disclosing that they are owned by one team.
other blockchains have not been exploited this much because they are not familiar how to use them or bit complicated on their end

In the future, you will see altcoins in the ethereum network doing
swap because they have their own blockchain. There have been many projects like Binance and EOS.
Ethereum is the best project because they have a smartcontract that is easy to use for project developers

I'm not a fan of tron neither erc20 platform but ever since I've been in crypto, I've seen how erc20 contributes in making crypto bigger (in a positive way). Although we see that a lot of shitcoins were made by erc20, we can't deny the fact that there are still a lot of altcoins that is useful today which was raised by erc20 platform. I'm not familiar in tron platform but I don't think I should make myself familiar since erc20 is convenient for me in investing such tokens and using it.

it is some what true but you cannot stop it from coming it is depend upon the people who are investing they have go thought complete details about the project and the technology behind it.

The ERC20 design aims to facilitate projects out there to easily launch tokens without having to develop their own coins. we have to thank you because Ethereum ERC20 has produces many quality projects, if today many projects launch coin-based ERC20 tokens that end up being shitcoin, we cannot blame Ethereum ERC20 as the culprit,
in fact Ethereum ERC20 has succeeded in achieving its design goals.

At some points, I agree with you. Because of ERC20, many shitcoins have been created and many of the ERC20 tokens are becoming a scam coin and some of them are becoming a dead coin.

Now lets see the other side of it. Because of ERC20, there are many coins right now that is successful and under development until this time. Will not enumerate some of them, just see coinmarketcap.

So does every token platforms. Creating tokens are easier than creating your own coin and everyone can easily do it.
It's not a fault of ERC20 or the Ethereum network. It's users who should be aware what they are putting on their wallet and what not.
Many of the currently popular coin were ERC20 tokens before they shifted to their own blockchain.

Very true, we can't blame Blockchain Ethereum (ERC20) with the many shitcoins. Because making a new token is certainly very easy on erc20. So what we can blame ourselves is why we want to invest or get the token. Blockchain ethereum is only a provider.

In my opinion, it is not ERC20 error if there are too many shitcoins. one of the shitcoins was because the developers who made the concept were unclear, so that other people lacked interest in the coins they created. this is according to my understanding.

Correct. If you blame ERC20 tokens, which do you consider to be good. EOS, Tron, BNB and Tether, all of them are ERC20 tokens. There have been no token platform as successful as Ethereum. Ethereum has redefined the whole of cryptocurrency. It's upto the investors where they want to invest there money and where not.

The only way to put more requirements to issue a new token and this can be done only by the ether core dev. Binance has become the real example about how a lot of requirements will prevent scammers to issue a new crap coin. there's no way than this way.

Many shitcoin on erc-20 because ethereum is the most popular network. If calculated, maybe more than 80% of altcoin use the ethereum network and that makes a lot of perceptions that erc-20 gives birth to a lot of shitcoin

A large number of shitcoins on Ethereum is not a problem, most of them will not even go to the Exchanges. If you think a little, and not blindly buy everything, then there will be no problems.

The useless coins in ERC20 is made the the people who were riding the hype of cryptocurrency in 2017 or would really just want to scam investors. As such, personally I do not blame it for being such a platform as it is not the intention of the developers. Every product has advantages, disadvantages, positives and the negatives. And it is up to the consumer how will they use such product.

On ethereum's blockchain platform, highly secure and without complicated procedures, it is also a popular and easy-to-use platform, many people can create and use coins on this platform.
This makes scammers take advantage of investors' money

maybe it's a weakness of ethereum. when more and more project scams, it is possible that investor confidence will go down to the project with ERC platform. it will be one of the reasons why the value of ethereum does not develop much. decreased trust from the community, it will be bad. although the percentage is very little.

Honestly speaking, Ethereum is the major problem that we have in this cryptocurrency industry, and truth must be told. This is why I so much hate Ethereum, because they are the one that gave chances to some of these scam projects. They sold innocent investors out to scammers because of the little smart contract fee they are collecting from them, and i will say that ETHEREUM is really the biggest scam as regards their smart contract.

If only they were following this products up diligently like the way Binance is doing, but no, they will rather prefer to keep approved all manners of shitcoins that keep proposing to them without doing their due diligence first. I don’t know about the chain you mentioned here and I will look into it, but I still respect the tactics that Binance in using in accepting their own IEO projects, which is why you may never see any shit project coming from Binance chain.

I believe you are one of those that always want to talk against regulation and decentralization.  Ethereum is a typical example of what decentralization is all about so why now do you hate it so much? I think you need a deep study of how ethereum works then you can rethink about you calling it a scam

Erc20 has been the hub of shitcoins, it is easy to issue tokens on the ethereum blockchain, saw on a WhatsApp group recently where they are charging less than $10 to teach on how to issue erc20 tokens.
Vitalik should really do something about it, before ethereum loses its reputation.

I wonder if Ethereum is not existing and we only have Bitcoin and those clone of Bitcoin like Litecoin, what would be the scenario, I think there will be less scam in our community, ERC20 makes it easier for individual and groups to scam people in the community, but we never know the scammers will always find a way.

Because its the product of Ethereum project and we could not avoid it, as their project offers creating a token in their blockchain, so the best thing to do is we need to be aware of what project we are investing or engaging, i know that shitcoins really exist at this very moment but what we need to do is to increase our awareness of such projects.

ERC20 should only be used as one of the alternative solutions for good transactions, many parties misuse ERC20 for crimes such as making scam projects and others, this is not a mistake of ERC20 but this is purely a mistake of irresponsible people.

there are lots of shitcoin, but not all shitcoin!
you just need to choose it right, if you don't research first in your investment, I will guarantee that all your investments will only become shitcoin.

It is true, many erc20 tokens are utterly useless and will never be used for anything as their ICO claims are never fulfilled. On the other hand it is good for everybody that it is so easy now to create a token. I can easily now launch a token for a personal project without any real cost and this token is secured by the ethereum network. This gives rise to a lot of innovation.

This flood of useless erc20 tokens also has a self healing mechanism as now people start to realise that it is not worth it to throw money at every dumb token ico project.

Personally I felt its very alarming the rate at which shitcoins capitalized on the flexibilty ethereum smart contract ERC20 and anonymous transactions of cryptos  to create many of these coins is very outrageous thus gives room for scams to thrive on, I wish there should be regulations on these coins else investors fund will continually go down the drain due to failure and delisting of the worthless ones in an exchange.

Yeah, he really needs deep understanding of how Ethereum works, every company have their vision and one of the vision of Ethereum is to create a decentralized system like that of bitcoin, and when you call a system a decentralized one, it will surely give opportunity to different kind of people without segregating, but with the proof of stake that are planning to develop, I believe that it will make the system stronger.

Ethereum cannot reject any project that comes for its smart contract, which is why they do advise anyone that is participating in those projects too to do their own due diligence before investing in any of them,Ethereum smart contract will always be open to everyone. The only think Ethereum can do later is for them to implement KYC, and maybe through that, they will be able to be strict with any project that intends to scam, but if that is the case too, it will still be more of lik operating a centralized system.

Does this indirectly compare the Ethereum blockchain with the TRON blockchain? I have never blamed anyone about a new token or shit coin, all we need to think about is a way to anticipate or analyze the purpose of making useless new tokens. Let's think about the solution.
Thank you very much.

Since I've started doing bounties in 2017, I have 80 plus tokens and 85 percent are shitcoins or the price is too low. That's why I've made a decision to only do bounties in few projects with a potential to be successful and getting paid good. And also i have received some random tokens and kinda frustrating to have them.

I doubt this statement. If only Tron blockchain came in first and became the more popular go-to-blockchain for these new projects, the result would have been the same.


This is more like a credit the founder and developer of ethereum since they made it easier for new project developers to launch their own.

Erc20 is a dapp blockchain that is why it's so. A lot of startups found an easier way to tokenize their products. Though this opportunity has been leveraged on and abused by some but then Erc20 has been one of the best things in cryptocurrency

I also think now , ico has long become unfashionable and few people invest in projects on the Ethereum platform , I think shitcoin is really a lot on the Ethereum platform , but few people invest in them

before erc20 token was born there are so many shitcoins sitting out there in the market already.. just check out in the coinmarketcap you can see them on the last page  ;D ;D ;D..shitcoin born and scammers were born as well  ;D ;D.. those fraud project that offers the "self -drop"

One of the reasons I will never leave ERC20 platform tokens is that, despite accommodating coins that can be very useless, it also allows those that are useful. If some are not working out well, at least I have seen very good ones. Even if they will not continue to be there, at least before moving, they would have made an impact.

ERC20 is just a good platform to begin with. Many good startups started their way with ethereum ecosystem, and this is good I think. Ethereum platform is a crypto accelerator :)

Legit you guys sound dumb everytime you say shitcoins, there are tokens without any purpose and if you invest on them instead of calling shitcoins call yourself a shit investor. Altcoins have been the biggest source of money for me, i'm constantly daytrading between alts at Switch.ag and always getting profit just know the market. If you could see i was telling in these threads to go there and get some link before it blew and people are just missing a great bag just because "SHITCOINS"

indeed we can see many bad ERC tokens. but it's not wrong from Ethereum. they have established a policy for making tokens with ethereum chains. they of course had thought about what was happening now. We hope that ERC can be better, widely used by projects and become a big smart contract platform.

I don't think ER20 standard or any other blockchain platforms gives birth to too many shitcoins but rather it was borne out of greed by fraudsters that greatly capitalizes and take advantages on other peoples naivety. Imho.

Maybe 90% of these scam projects are on ERC20 all the bounty that I've participated in are all almost on ERC20, because it is easy to maintain it's like set and go no need to do anything, we have a ready explorer and decentralized exchange for it, really make things easy for scammers to create one.

Shitcoins give rise to a failed projects or a Scam. Too much ICO, airdrops etc. were released in the crypto world lately and a lot of coins lost their value or never worth anything at all.

That's not the fault of erc20, that's a fault of the abusers, scammers and greedy people who tries to create fake/dummy project to get some money out of peoples pocket. If you can recognize the good ones, avoid the shitcoins and it will die automatically.

True, the large number of shitcoin is not wrong with the technology that runs beneath it, but it's because of the scammers themselves. In the ERC20 vision it is not said that ERC20 is intended for scammers, because this system is universal and all can use it. The problem continues, it depends on how the person who manages it, if it is wise it will be a good token and vice versa.

ERC20 is not intended to scammers, it is just so many people misusing it out of the convenience of ERC20 which is can be freely created by everyone.
That's the disadvantage of open source project, people are free to creates their own whether they are criminals or good people.

But you should put a note about that if those fraudsters are abusing the system that already created in the blockchain ecosystem. Shitcoin will never birth if there was no a fraudster or scammer that control it from behind.

i still love erc 20 tokens and ethereum itself. The fact that there are way too many erc 20 tokens out there is the clear sign that ethereum is really wildly adopted and the name of the game is "the most adopted wins in the end".

the market of ethereum and tron ​​is indeed different. ethereum develops with a very large community. while still not enough to grow their market with a community that is still not too large compared to ethereum. ERC will find a solution for making ethereum chains that are used by many platforms that make a lot of shitcoin. I'm sure the developer will complete it.

Now, many shitcoins trying to rise again, although they had been dead for a very long time, I hope they will not succeed.

Most ico projects use the erc20 platform because it's easy to reach, and we also can't violate the erc20 network, because it all depends on the team developing their tokens on the erc20 network. if they have good performance in developing their tokens I think the results will also be good.

Shitcoins are really annoying after the all scam projects but it is not in our hands to stop it,unfortunately. Shitcoins can be used for pump and dump but these coins have no real value on the crypto ecosystem. ERC20 pump-dump tokens are not going to make someone rich with single buy order.

Many other people created a project with the erc20 platform, because the erc20 platform is very dominant throughout the world compared to Tron, which is new to the platform, and the erc20 platform is easy to change and easy to operate.

i agree with your statement but i am also very pleased to see that erc20 gaves so many real and big project :)

I agree also, one of the best an real projects is HST decision token, voting on the blockchain using erc20.

I once read a comment of one of the legendary member here on BTT about how easy it is to creates an ERC20 smart contract with just little amount and this is exactly why many project always rush to make ERC20 token. Many of them can not afford a fully optimized website not to talk about going with blockchain technology that best suite their project. In case you don't know, a lot of project that intend to launch bounty this day make use of erc20 token just because they want to lock some certain people's token when it is released for them. All these are what we have noticed

In fact I cannot blame this statement of this thread. The ease of programming a Smart Contract of a Ethereum blockchain token has also generated so much superficiality, incompetence and fraud attempts. Otherwise, if a coin has its own blockchain, the investment in work to do is much greater and the scams would be less.

Additionally, I would like to emphasize that existence of shitcoins will never stop or at at least be minimized as long as there are people who are innocent and often lack experience in cryptoland as they are the ones who are fueling its existence and often encourage its perpetrators to do it shamelessly. I guess we can help minimize this issue if we help share ideas with others and try to acquaint them about the pitfalls in crypto-industry so that they may not become a victim of this schemes. :)

It is not as if ERC20 platform is the propagator of shitcoins, but that because it offers an opportunity for just anyone to lunch his token on it, because of it's smart contract. This can also happen on other platforms that offer the opportunity. So ERC20 is not the cause.

All because it is the first platform that provides opportunities to create tokens. And it is still popular. It doesn't matter how easy it is to create your coin, it matters the willingness of the team to work and develop it. Few people are really ready to do it and so in the end many coins dont survive.

Ethereum ERC 20 blockchain cannot be blamed for the birth of the numerous shitcoinsin the cryptocurrencies market today. The reason is because after the ico boom of the year 2017, a lot of people seek ways to make money through cryptocurrencies and the ease of creating smart contracts and blockchains on ERC20 meant that it is the blockchain that is mostly used.
Even blockchains like NEO and Stellar and has also given birth to a number of equally shitcoins

All can make tokens on ERC20 and this makes a lot of shitcoin in the ethereum network. This is what makes us have to do research on the developer team because the project will be good if the developer team understands the project being worked on and also has an extensive network in the field of the project to create a partnership

Most ERC tokens are created for Airdrop and their creation is simple and doesn't cost as much as other tokens on other platforms. Smart forms of contracts on Ethereum are quite easy to use and popular.  Some projects forged tokens on lazy Ethereum network cause confusion for investors.  Those are the reasons why ERC20 has so many shitcoin.

Why does ERC20 find many shitcoins because we know that making tokens is very easy. And of course if people make their own tokens shitcoins will always be created, if they really have the initial intention to make these tokens useless. So until that time it will always be created.

Erc20 platform is a smart contract in several ico projects, some ico projects use this platform to develop their projects or tokens. but over time, many scamers have misused this platform for their own sake, and that is the reason why many of the new coins generated from this platform become useless.

Yes thats was true too many shitcoin on erc20, but ethereum is real decentralized platform, any one can create smartcontract on erc20..

Many of these – but you should also see that ERC20 has generated a lot of successful coins. I see that we have to be smart in investing in order not to get stuck in useless coins. See the price of Bitcoin and Ethereum starting to grow high. So now is the right time for all the coins to start going up.

That is true that there are many of altcoins based on the Ethereum Blockchain.
Because Ethereum network is the only platform that easy to use for the many developers of projects.

We don't need to worry about that.  The market will purify all bad projects and look but the token has been created.  They have almost zero volume and those tokens are not traded on ethereum as before.  Those are dead tokens.  The ethereum network is now much improved and faster because ICO and airdrop activities have greatly decreased.

ERC20 really gave birth to shitcoins but didn't you see it?
there are also those who use ERC20 which is the best altcoins currently available?
this is not about ERC20 or any other block chain but about people who claim to use the platform for personal gain only.

I agree. ERC-20 supports mostly of the platform but it has nothing to do with shitcoins because they are just giving opportunity to everyone who wants to deploy the coin in the market. There is company that taking risk on the market but the project won't take long to operate and leave the market with no value. Shitcoins started when airdrop came into market.

that's not true,  ethereum has nothing to do with any bad project that existed in its chain. Ethereum has developed it's product for a better and easy use for developers. Also ethereum is not the only project that is open chain. Why don't you talk about many scam project in waves too?

This is decentralization anyone can make or create his own token for his company or attach it to his products and services, Ethereum just so happen was create to make it easier for any company or individual to create a token for themselves.

You can't count them all because there are too many of them especially the shit one. I think its because of them why they are lots of scammers who manage to make their own tokens and come up with an idea to get people money. but let's be honest here there are some tokens too that are successful who really are making some contribution to the block chain technology.

Exactly, the blame should be on the lack of regulation in the market and on the ignorance of the investors and not on the tech.

ETH is design to give freedom on any project that would like to build on ETH platform and they all have the freedom to do that, so if we are aware of that, we know the risk.

Now there are much more opportunities to create your own coins. it is not necessary to use blockchain ETH. It seems to me that the ETH is not convenient for these purposes.

Without any doubt there are a lot of shitcoins that are based on ERC-20 blockchain, but it is the easiest and the cheapest way to create your token and thats why the most popular method. If BNB will make a swap for free, a lot of projects would migrate to Binance chain. But the only difference is that shitcoins are going to be on Binance chain.

Every thing that is popular will always be scammers, so like it or not this is happening now. should a project seriously want to develop their platform, it's better to use Blockchain privately.

see now compare projects that have private Blockchain projects that use smartcontac. the average project that has a private blockchain persists and is still actively developing.

I commented on the previous topic, smart contract of ETH is an open platform, so anyone can create a token and create their own project on it. since it is the most popular platform, it is perfectly normal to have many scam projects on it. Dapp on trx is also experiencing the same thing

Thus, there is no need to create new blockchains w smart contracts. This only creates confusion. It would be much better to create a control/regulation system or an escrow/guarantor system for the creators of smart contracts when creating a token.

because people can make contract in ethereum easily that's why many shitcoin are created, better than Binance Blockchain if someone want make contract using Binancechain they must pay few BNB, and not just anyone will make tokens because of the high cost

The fact is that when we are living in a decentralised world, a world where are are little to no rules and anybody can create whatever they want, this would turn out to be the end result, everybody wants to be a millionaire by having their own cryptocurrency and the ethereum blockchain enables them to atleast have their own token, although for most of them, it never moves past that stage.

Well, it's like you use a knife on good or bad is your decision. And platforms that don't have enough people to control the tokens created on their platforms are good or bad

ERC20 tokens are main components that contributed to the solid second position of Ethereum in crypto market. Ripple's market cap can surpass Ethereum's market cap at some specific periods, but Ethereum will definitely maintain its real second position, not only crypto marketcap, but also its ecosystem. If someone say there are coins can beat Ethereum and take the second position, they are wrong. At least, till there are coins that can build up bigger and stronger communities than Ethereum's.

Usually the most popular is the project that took the first certain niche. Bitcoin is the very first. Ethereum was the first to successfully occupy a niche for smart contracts and therefore it is a leader

Indeed, ERC20, due to its versatility and scale, is attractive for fraud, and this, of course, adversely affects the cryptography market as a whole. But progress does not stand still. These are only temporary difficulties at this stage in the development of the entire cryptoindustry.

You will equally give credit to etherium for producing the most successful coins as well, at least Binance was developed from etherium platform. Creating a smart contract is not difficult on etherium just that one need to be careful before participating in any.

Actually, due to the popularity of ethereum and its platform, it is widely used by people, making people prefer ERC-20 to other platforms. and in my opinion this is not a big problem. if we see people get a lot of shittokens from ERC-20

Well every platform where anyone can create tokens easily will create shittokens because why not? Some people see that as easy way to make money and scam newbs.

As you know, any new technology is created on basis of trial and error. Ether was a pioneer in field of smart contracts and many scams projects were created on wave of crypto popularity on its platform. This should be treated as a side effect of crypto evolution.

That's something no one wants to happen. But because of scammer's greed it caused the altcoin market to collapse when more than 80% of altcoin was a scam. and most of them are created at the ETH platform, because it's easy for us to create a smart contract.

Agree a little, but in my opinion, there is something worse than erc20 that is waves token, there are so many project tokens that are initially good, then turn into garbage, it must be overcome ethereum must make it difficult for people to make erc20 tokens, and eradicate shittoken

Yeaahh, just because people can easily make an ERC20 token. People start making a low budget project using that Ethereum technology.
I think there should be a new technology that can forbid fake tokens to be created.

I understand that there are many ERC20 tokens which are baseless but there are some with really good projects. Looking at my wallet, most of the airdrop tokens I got wayback are now entirely shitcoins with no project aim or vision. But this doesn't mean there are no superb ERC20 tokens.

That's true, you are not wrong though but that was never the motive behind Ethereum blockchain. Shitcoins came into existence owing to the nature of humans who are bent on scamming investors. But nevertheless, Ethereum has given birth to most platforms which are doing well while continually advancing to offer more security etc .

To everything, there are both merits and demerits. I wouldn't doubt many shit coins are built on erc-20 chain  but can we blame that instead of the people who are taking advantage of its ease of usage??

in my opinion this is indeed still a weakness and a bad thing in the world of crypto, ERC20 is indeed not created to automatically distinguish between shitcoin and where is good coin, hopefully in the future there will be ways for ERC20 to be used more effectively and efficiently

On a serious note, the issue here is not really about the ethereum blockchain. It is just that a lot of CEOs this days are developing tokens with fraudulent mind set. Despite having shit coins on ethereum blockchain, there are still successful projects. The question is how were those ones successful?

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.

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.

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.

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.

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.

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.

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.  ;)

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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

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.

Has there ever been a coin marked as a "shitcoin" that has proven everyone wrong and become worthy?

It is actually because ETH is the first to offer such feature on it's chain. Tron, Binance, Wave also have a lot of shitcoins on them.
There is over 205,559 token contracts on ETH network at the moment.

in the matter of shitcoin I don't blame the Erc-20 platform because this platform actually has really helped professionals to build an altcoin to launch to the market to trade ... but in my opinion this is the fault of the people who built altcoin just to make a profit personally by tricking investors and in the end altcoin is abandoned so we call it shitcoin ..

That is because the creation of ERC20 tokens is simple and easy for everyone having the minimum basic knowledge about Ethereum platform, and smart contracts. That is why there is plenty of people creating these tokens just for fun, some others created their tokens for serious goals but failed to reach success.

I also feel that so many dead coins are generated from the erc20 platfrom and that is because projects that use the erc20 platfrom cannot be developed properly so there is no demand for that altcoin. Well developed coins will certainly have a lot of demand in the market

I think that the Ethereum-based platform ERC20 itself has nothing to do with it. Shitcoins are doing projects which have collapsed, or was originally conceived as a scam. But the reputation of Ethereum suffers from this.

To make ERC20 tokens is indeed very easy. Almost all of us can make ERC20 tokens. I think this is not a block chain problem that makes this token become trash or has no selling value. But the platform developed by parties using the ERC20 block chain does not work.
Tether (USDT) also uses the ERC20 blockchain, but they are running well. Even this coin has the same function as using a separate blockchain (Omni).
I think this is not a matter of blockchain being used, but rather who uses the blockchain.

Ethereum is constantly evolving, and is moving to Ethereum 2.0, there will be many new products and different standards, not only erc20, so I would prefer this cryptocurrency to the throne

The ERC-20 protocol is not always sufficient for token purposes. This is only the basis for the creation of Ethereum tokens, which does not guarantee their benefits, value or performance. ERC20 is also cryptocurrency that is created on the base of Ethereum blockchain.
Shitcoins, unfortunately, can be also released. However, ERC20 standard is still very useful, and it will be used long although ICO scams affected it negatively.

Ethereum is relatively easy to launch your token in 5 minutes if you are a skilled dev or atleast tech person. To run a irdrop is a letter of one ethereum for couple of hundred of addresses.

And it's now at its worst because many developers are offering a service for the creation of new erc20 tokens. It seems to be easy for them to create a new token without real use.
And with the investors mindset that it's easy to make money by producing such useless coins will make them buy those service. But in the end those kind of coins will die slowly.

There are alot of coins that were based on ERC20 and they were not shit. Alot of them did gave good profits to their users and the bounty hunters. So being ERC20 has nothing to do with the quality of a token. A good team can make any project good and a bad team can ruin even a good project.

Not all but most of erc20 tokens die fast after hitting exchange which leads the mindset of investors to dump after listing. Now, what we need is the solution to this issue since it's been here for a long time. Hopefully this can be resolved.

it is anything but an issue from Ethereum that they have set up a open source blockchain for making tokens with ethereum chains. they obviously had idea about what was going on now. The problems lies however with the projects using the ethereum blockchain and they really can be better.
That is why a form of regulation is needed in the crypto space

Lots of shitcoin on ERC20 because ethereum is the most popular network and it's also easy for people to make tokens on the ethereum network. BNB Coin is now starting to be glimpsed by many new projects and I think if later the BNB Chain becomes popular, there will also be a lot of shitcoin that will be made on the BNB Chain.

This is an undisputable fact. I usually discuss this with my friends that because it is easy to create tokens, many people have used that to scam others by creating tokens within a few hours. They do not need any computers to run any thing on so they create and miners on the ether blockchain will do all for him or her and watch his money grow. But since this is a decentralized world, there is probably nothing we can do to stop this.

it is true that tokens that intertwine with many ethereum bases are useless and tend to get to the point, and actually as much as ethereum launching shitcoin will not be a problem, if the situation is different (not to waste). this must be a correction for Team ethereum to tighten their shitcoin launch.

Erc20 came as the first blockchain where Dapps can be launched many projects took the ample opportunity coupled with the ICOs boom and cryptocurrency boom of 2017,lots of projects were born. Deploying smart contract was made easy through Eth blockchain.

The ethereum blockchain is totally under control of the ethereum developers and ethereum developer is the only party who can create a proposal to create a big change to the requirements to create a new contract address. To create a contract and a user need to download the whole of blockchain of ethereum. I agree with you it's too easy to issue a new asset and that must be changed to give more prevention to the scammer.

Not only token or currency can use and make using erc20, this is blockchain technology have future for alot of purpose different other and behinde currency.
other country use for data manufacturing and transfering citizen data to keep save.