ERC20 gives birth to too many shitcoins

[ivaf]

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.

[Mike Mayor]

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.

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.

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.

[silver23]

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.

[efrenbilantok]

My answer is too many shitcoins are based on erc20.

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.

[dataispower]

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. 

[tranduong123]

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.

[z21770179]

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

[Ekyfitri]

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.

[Xclusive5]

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.

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.

[hulla]

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.

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.

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.

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.

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.

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.

[fortunecrypto]

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.

[AmoreJaz]

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.

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.

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.

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.

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.

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.

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

[Pelana vreo]

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

[Polar91]

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.

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.

[globalking]

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.

[Apes]

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.

[LogitechMouse]

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.

[Tipstar]

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.

[qomariah95]

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.

[awakpane]

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.