Why smart-contracts are so strange?

[bubuliks]

Hello dear friends,

I have not found such a question.
You do not find strange many ICO smart contracts?

I don’t want to give specific examples here, but many of them haven’t soft-cap in code.

[IParn]

I think that the whole thing is that now everyone is making coins. And since there is nothing new to come up with, they cannot begin to copy what is. And since Ethereum has the greatest popularity, people begin to use the features that Ethereum has, namely smart contracts. Well, in the end it turns out not always successfully because they are so strange.

[rockethead]

i don't know exactly what you mean. would you perhaps have an example for us?
probably it would help many people if there was a simple smart contract faq. so easily prepared for basic information.

[bubuliks]

i don't know exactly what you mean. would you perhaps have an example for us?
probably it would help many people if there was a simple smart contract faq. so easily prepared for basic information.

For example, in the GitHub code with string "uint256 initialSupply"

As I understand, in the same code there should be a code for soft cap, right?

It would be really great if investors receive a brief manual for analyzing the smart contract of red flags, for example, the presence of soft caps in the code or other moments.

[bubuliks]

I think that the whole thing is that now everyone is making coins. And since there is nothing new to come up with, they cannot begin to copy what is. And since Ethereum has the greatest popularity, people begin to use the features that Ethereum has, namely smart contracts. Well, in the end it turns out not always successfully because they are so strange.

But really nobody notices this? 

On some ratings, a frank scam gets a good rating, they don't even check the smart contract.

[bigcash2011]

Not having soft capis not a critical issue as some projects already have the starting capital to start the project, some projects have private and angel investors so soft cap is not required by such projects that is why they do not implement it in their smart contract.

[bubuliks]

Not having soft capis not a critical issue as some projects already have the starting capital to start the project, some projects have private and angel investors so soft cap is not required by such projects that is why they do not implement it in their smart contract.

Yes, it's absolutely fine if they don't have a soft cap, it's ok for sure. 
But if they indicated a soft-cap on a website and a WP, but did not indicate it in the smart contract, then this is strange, isn't it? 

[bubuliks]

If you have any ideas, I'll be really appreciated!

[CuriousGeorge]

Hello dear friends,

I have not found such a question.
You do not find strange many ICO smart contracts?

I don’t want to give specific examples here, but many of them haven’t soft-cap in code.

I think that you will not find soft cap but it looks like rather than softcap and the developer was putting how many tokens that available for the tokensale. Some platforms are not creating automation to its ico and that means the token will be distributed after the ico.

[bubuliks]

Hello dear friends,

I have not found such a question.
You do not find strange many ICO smart contracts?

I don’t want to give specific examples here, but many of them haven’t soft-cap in code.

I think that you will not find soft cap but it looks like rather than softcap and the developer was putting how many tokens that available for the tokensale. Some platforms are not creating automation to its ico and that means the token will be distributed after the ico.

Possibly,
I mean ERC20 in this case. I saw contracts with refund or soft-cap or something else code, but often in the code, there is no soft cap. It confuses me

[Nalbo]

Most of the ICOs don't even have a smart contract.
Smart contracts are generally there to regulate issuance and freezing of tokens rather than measuring a cap. Though some of them have an automation to transfer back the coins if the stated minimum amount is not collected.

[bubuliks]

Most of the ICOs don't even have a smart contract.
Smart contracts are generally there to regulate issuance and freezing of tokens rather than measuring a cap. Though some of them have an automation to transfer back the coins if the stated minimum amount is not collected.

I wonder how this is possible today, yes, it is not necessary, but you always know that your nuts are protected

Especially if the project does not have serious progress, besides, it is unclear how much the project actually collected

[chocopapaya]

It's simple, those ICOs are terrible.
But, in their defence, how do you expect the softcap to be written?
A lot of the promises made for reaching softcap are off chain after all.

Or are you thinking that the contract is something like: "Once ____eth gets deposited in this account, tokens are automatically released"?
Well, most ICOs automatically have tokens distributed for donating.
So that is taken care of.

But as far as promises to keep the company going if a softcap is reached is all off the blockchain.

I guess, an important takeaway is that it is important to look at their tech footprint.
Basically, part of researching an ICO is to look at their github.
They should have all smartcontract info there.
If you don't know how to understand it, just have a techie frined look at it.
Or start a tech discussion about it here.

[bubuliks]

It's simple, those ICOs are terrible.
But, in their defence, how do you expect the softcap to be written?
A lot of the promises made for reaching softcap are off chain after all.

Or are you thinking that the contract is something like: "Once ____eth gets deposited in this account, tokens are automatically released"?
Well, most ICOs automatically have tokens distributed for donating.
So that is taken care of.

But as far as promises to keep the company going if a softcap is reached is all off the blockchain.

I guess, an important takeaway is that it is important to look at their tech footprint.
Basically, part of researching an ICO is to look at their github.
They should have all smartcontract info there.
If you don't know how to understand it, just have a techie frined look at it.
Or start a tech discussion about it here.

Yes, I will think about the technical discussion, maybe I do not understand something, but the language is not complicated, especially as there are notes in the code, I will read the forum rules and continue my thoughts, thanks for the answers!

[Forbiddenone]

if you are thinking of just pure abstraction means just a type a function and rest of code is executed then it is better to use gui code generator rather than going for manual coding .fist you have to understand that blockchain tech is not easy and pretty new and designing a simple syntax contract language will be difficult.

[andor.gellenhidi]

No, I don’t see something very strange in them, because I think that all they can really do is just create planned actions that you can observe today, for example, at ETH. There are already functions that are already standard. Therefore, in general, change can only worsen the situation.

[bubuliks]

No, I don’t see something very strange in them, because I think that all they can really do is just create planned actions that you can observe today, for example, at ETH. There are already functions that are already standard. Therefore, in general, change can only worsen the situation.

Let me clarify, I'm talking about ERC20 contracts, I have nothing against them, they are a good decision.

I'm just confused about contracts of some ICO which do not indicate soft cap in their code, but they talk about it on their website.
At the moment, I do not understand just that, because this is a guarantee of investor safety

[bubuliks]

No, I don’t see something very strange in them, because I think that all they can really do is just create planned actions that you can observe today, for example, at ETH. There are already functions that are already standard. Therefore, in general, change can only worsen the situation.

Let me clarify, I'm talking about ERC20 contracts, I have nothing against them, they are a good decision.

I'm just confused about contracts of some ICO which do not indicate soft cap in their code, but they talk about it on their website.
At the moment, I do not understand just that, because this is a guarantee of investor safety

Maybe you have some ideas, guys?

[rockethead]

No, I don’t see something very strange in them, because I think that all they can really do is just create planned actions that you can observe today, for example, at ETH. There are already functions that are already standard. Therefore, in general, change can only worsen the situation.

Let me clarify, I'm talking about ERC20 contracts, I have nothing against them, they are a good decision.

I'm just confused about contracts of some ICO which do not indicate soft cap in their code, but they talk about it on their website.
At the moment, I do not understand just that, because this is a guarantee of investor safety

yes for the security of ico investors it wouldn't be wrong. as often as during an ico or ieo recently goals and processes are changed
many would have a problem with that. so i think that's rather ignored. the goals and plans on a website are changed fast

[neonshium]

Hello dear friends,

I have not found such a question.
You do not find strange many ICO smart contracts?

I don’t want to give specific examples here, but many of them haven’t soft-cap in code.

If you are not a programmer, I think this is only when smart contract would look strange to you because it is normal with life, as people always say, knowledge is power, once you don't know how something works or how to get it to work, then it would always look strange to you until you are opened to that knowledge. Smart contract is a deployed code on the ethereum blockchain to create a token with different blockchain features.