Projects are abusing blockchain technology.

[Pr.Victus]

I saw quite a few projects where blockchain is needed. But the main application is still to come. I believe that it will be more and more useful in banking structures, utility structures, and government institutions. He will greatly simplify their work.

[Antinomist]

This is indeed happening. A lot of scam projects are making profits by using the blockchain name only, nothing else. I think they are making a mess out of it. Although a lot of them usually don't make it till the end but it damages the reputation of blockchain greatly.

[Symptomatic]

Blcokchain technology is so popular that it has become a brand itself. This is one of the reasons some projects are abusing its fame. But some good stable projects have come out as well.

[Omega Weapon]

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?

Have the same opinion with you. I suppose the blockchain is being abused in many different fundraising or even bad-scam purposes. The blockchain technology is an excellent invention. but it is still a macro part. Many projects rely on that, to draw dreams and all just the promise.

This has happened whenever the scammers find a new development in the technology that very few understand, they know that very few people are going to read the white paper and they are not going to understand it, people get easily impressed with the use of technical terminology even if they do not get it, and scammers know this, which is the reason why they can scam so much money out of this market.

[Adreman23]

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?

Sad but true. Many scam ICO's used blockchain technology only to get funds for their businesses. Thats why before we invest make sure we do our own research. Reading and understanding the whitepaper of the project helps us to determine if one project really needs a blockchain or the project only using blockchain to get funds and steal our money.

[otunayode]

Blockchain is indeed beneficial and better than current system of recording etc. But the idea of blockchain solving every conceivable problem is just naive. We should focus more on the Strong aspect of blockchain and deemphasize other area!

[Kool5]

Many projects are blotted with the blockchain. On this bill, I completely agree with you. After all, you need to put the best protection, do more proving. It is necessary to create regulatory bodies that will take companies for work.

[modmalaney]

the case that there is a form of abuse of blockchain. This is where the need for analysis and research that will determine whether the concept of belonging to a project quite worthy and useful or not. with the find could, of course, be learned that the project on behalf of the blockchain is it worth or not.

[viktoriya1945]

You are right, such a problem exists. During the hype, many projects took advantage of the situation to attract easy money. I heard that a similar situation was at the time of the dot-com. I noticed that this year it is very difficult for such projects to attract investors, today every project is being analyzed and investments have become more thoughtful.

[moonblocks]

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?

You are correct there's lots of projects that don't really offer much real world use or at least if the concept is good the inability to generate enough interest and get people to actually use the product or service usually doesn't happen

There's a little too much hype that less knowledgeable investors have been buying into

[grifinmch]

many found that kind of project and of course, it's less good for even followed. in name alone might have been incompatible with the existing blockchain system so necessarily likely will also get results so good. This might be one of those marketing tricks by using the name blockchain which is already large enough to attract attention.

[Xxmodded]

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?

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.

[maman09]

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?

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.

[Wicked Sick]

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.

[wall101]

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.

[otunyot]

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!

[Froy]

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.

[dutechman]

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.

[Omega Weapon]

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.

[edmundo]

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.