Bitcoin Forum

Ask yourself this question, which platform is the most used in crypto space today? its ETH and its smart contract that is been used by both good and bad developers the most, Tron blockchain is not like this because last year i witnessed when tron teams start getting rid of scam projects off their blockchain, it will be better if ETH do something like this in its next upgrade, scammers have too much freedom and its hurting crypto, my idea might sound stupid to some but don't mind i am just thinking of ways to fight scam projects even if regulation didn't come sooner

smart contracts platform has no features to fiilter the scam dev mate
thats why scammers will always come in this industry,
to fight the scammers we can only do our best research and spread the word about the project if the project look suspicious

I agree, only by studying more information about the project, there is less chance of not being deceived.
But to do this at the blockchain level does not work out since everything is written into a chain of blocks and anyone can create their own token and promote it as they want. It may be worth it to go through identification of the developers by providing legal documents for a future project, but I doubt that it’s interesting for the ethereum developers to implement this, I think they have enough problems without it.

I fully agree, smart contract platform especially ethereum is decentralized. Thats why many people wants ethereum for the reason. The only thing we can avoid scams is to always do our due diligence in a certain project then if we see some redflags with evidence, its time to spread that word so that the no investors will get scammed again.

If what you said about Tron getting rid of "scams" on its "Blockchain" is true then Tron is definitely not a true Blockchain. It is not decentralized and shouldn't be taken seriously. You don't solve a problem by desecrating a sacred principle.
I believe Ethereum can solve the problem of scams without following Tron developers footsteps.
Why don't these newbreed of crypto developers just build whatever they want on normal centralized platforms then wasting their time on obvious deceptions/tricks.

You cannot find any project scam or not with the smart contract. Because anyone can create a token on smart contracts. They don't need a good knowledge of programming to create a token. Then you have to do researches about projects. The researchers will be helped to find the projects are scam or not.

Scammers will always be in this market and we cannot be insured against this by anyone other than our attention. we ourselves must learn to understand which project is a scam and which one is honest

there is now way we can get rid of scammers in the market as long as there is one greedy person that just jump in to the ship without knowing whats the ships engine or if there is really a captain
in other words if someone believes the person's words without
research and knowledge about a project, and believes in just hersey
scam will prosper why? because there are still who believes in them
and greed propels it all , without thinking and research there will be persons that will be scam, so spread the words and share good information to others to lessen scams in the market in that way we will also be able to promote crypto and attract others to believe in digital currency

There must be cooperation to fight against the SCAM project by reporting and then broadcasting a project that is 100% SCAM. Share on all social media and share also in specific threads for the SCAM project. Must be more vigilant and need a lot of research before participating in the project you choose.

Your idea is not stupid at all, it's one of the best I've seen recently on this forum. If Vitalik and his team can do something about developers given permission before they can launch a token on Ethereum blockchain, it will help reduce scammers who take advantage of the open source and free nature of the ETH blockchain.  You mentioned TRON already is weeding out scam projects which I'm not aware of, that's cool.  Let's hope for the best with ETH blockchain, I'm a big supporter of ETH.

I also wish scam projects using ETH blockchain should be labeled scam by Ethereum foundation but that's a herculean task, they have other very important things to do than investigations of this nature. I really think your suggestion is not stupid, but valid. Too many scam projects sprout from ERC20 developers, they abuse the Ethereum open source  blockchain. If permission is obtained before a developer will have access to develop a token on ETH blockchain, it will be best. Some wallet developers like IMTOKEN are already labeling scam tokens scam by adding a skull 💀 icon against the token.

I also agree with you. It would be great if the ETH platform could do that, which would make the value of ETH much higher.

if the developer of Ethereum can apply rules like Stellar where people want create project above their blockchain must have approval and Stellar developer can filter if some project felt have potential to scamming investor in future

Tron has a scam filter? That is not good. True blockchains are decentralized and neutral. If an entity can control the coin network, it is not decentralized at all and defeats the purpose of cryptocurrencies. Maybe you are saying in the exchange level or the fiat gateway.

Smart contracts do not relate to good or bad projects, smart contracts are open to the public so anyone can make them, scammers are rotten ideas created by greedy teams to deceive investors, you must be smart at filtering out projects that are investment-worthy to avoid scammers

that's true, the more strict requirements must be applied before anyone can issue its own token on ethereum platform and ethereum still hold the best platform with so many tokens are being issued everyday.
I hope that vitalik will give you change to the tokenization of the smartcotract and put more restriction.
The scammer use this caused by the popularity of ERC20 token

I think you are a Tron fan boy, ask Tron developers if they wish to have the number of projects either legit or not on their platform their answer will be a resounding Yes. If you called a project decentralised there is no need to control what people do on it. It i just like asking the person that build internet to start deleting all the so called scam site in the space, you are free to use or visit any site at your own personal risk

Tron is a highly centralized cryptocurrency! It's not my word, this sentence was said by the co-founder and ex-CTO of Tron, Lucien Chen! So it is possible for them to remove the scam project off their network. But the same is not technically possible for ETH. It would have been great if ETH can do the same but there's no way!

The only weapon for us against scammers is the "Awareness"! Stop visiting some non-sense ICO listing websites because these websites are getting paid for listing ICO projects so they wouldn't mind in listing few scam projects that looks great and sounds high-tech! But our self awareness is something that these scammers can never beat! So trust your own instinct!

There are no filters as of now in the exchange. And even if there are filters, these scammer projects will eventually find a way into the crypto world even into the top exchanges and will continue to find ways to rob people of their money and scam people. We just need to be very cautious and spread the word about these scammer projects so that others can be more cautious next time.

Actually there were scammers that have been filed case but this was for the large transactions and money that they have stolen to their investors. You forgot the other known smart contract that's being used now.

• ETH
• TRON
• EOS

The OP makes sense, nice one mate i think most scam coins are always erc20 tokens, i know coins have scam projects too but too many tokens are scams kinda make coins a better option but better to choose by doing researchs

Coin ethereum is one of the most reliable and promising cryptocurrencies. We hope that the developers with the following promised improvements will find ways to significantly increase its scalability and eliminate its other shortcomings. However, it is unlikely that developers will be able to find effective ways to deal with scammers who use her smart contracts. Perhaps the obvious facts of fraud can still be fought, but it is systematically impossible to deal with this phenomenon without violating the principle of decentralization in cryptocurrency.
The fight against fraud is the task of law enforcement agencies, not cryptocurrencies.

I think that renewing the erc20 contract is one way to avoid fraudulent projects, I see that many developers are currently abusing the erc20 platform and making it an ingredient for fraud. if the developer can do an audit update, maybe the scamers will be reduced.

no, you should first ask yourself what does "used" mean?
should we really consider "creating garbage tokens to scam people with" a real usage? i don't think so. and so far we have only had garbage ICO tokens that use ethereum blockchain so you can't really call it "used". the smart contract is mostly like a buzzword that is used to fool people into handing over their money and pump the platform's token otherwise they have no usages in real world. at least i have not seen any so far and i have looked!

Only way to be saved from these scammers is to do your own research thoroughly and do not rely on the exchange’s repo for that. Almost anyone can get into these exchanges, so it’s better to rely on your own research for making your investment rather than the exchange’s repo.

Funny Ethereum platform is not built to eliminate scam projects. I once read that EOS can freeze the fund of scammers or project that did run scam project. I really don't know if they have been doing this. It's important we make adequate researches about project before ever investing in them, I have countless spam coin on my ethereum wallet which I got as airdrop and some I bought during ICO.

yes in general it is true that it is far better to research thoroughly and not promote fraud projects, one example in my opinion most beginners are lazy to read, they only think of projects that give big rewards and big profits. Such projects are very risky, they are actually just nonsense and that is one of the tricks to attract investment in the market. My advice is to always consider before investing or participating in any project.

Vitalik and his team made the ethereum blockchain and the smart contract easy to access and use. Their platform is almost universal that everyone can utilize, that is the reason why they became so called "successful", if they will eliminate that idea and to do the opposite which is to filter out good projects and scams, it is much time consuming, and at the same time, opposing their asset which is the easiest blockchain technology platform where projects can be build.

Of course Eth has a lot of great features, but when it comes to scam projects we can't wait for regulations, we must take actions ourselves.

When it is decentralized how they can have some restrictions to use?

No one can change ethereum but anyone can use that blockchain.Best thing we need to restrict scam is learn more about the cryptos and get some basic sense of how it works.

there should be self-protection from ethereum developers to overcome the use of their blockchain network for creating new tokens. To me, it is the best way to correct the downward investment trend of ETH because of the effects of too many scam projects using their blockchain.
but until now I still think that etehreum is the best smart contract platform.

It seems that Tron blockchain only supports gamble projects and it is not as high as Ethereum's blockchain platform.
so we should not make comparisons like this, it is not symmetrical. eliminating a number of scam projects is very difficult for ethereum's team because they are only tasked with providing the platform. if they have additional duty to check for fraudulent projects, that is unfair to them. We should be the ones who prevent fraudulent projects with our own experience, don't blame anything when we make mistakes.