ERC20 gives birth to too many shitcoins

[VDraci]

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.

[fapar]

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.

[tippytoes]

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.

[akamit]

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.

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.

[rachman mahesa]

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.

[Tylev]

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.

[max6575]

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.

[chanler]

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.

[serjent05]

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.

[MiF]

First of all: There is no "ERC20 Blockchain"... ERC20 is a standard of smart-contracts for tokens (not coins) on the Ethereum blockchain.
There might be many shitty projects and even scams but a utility-token doesn't require its own blockchain.

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.

[makishart]

Tron blockchain developed it's self against the flaws of ethereum blockchain,  if tron blockchain had come early before ethereum blockchain, tron blockchain will have had same issue,  hopefully Vitalik will be able to do something about scam tokens that are being built on ethereum blockchain

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.

[BeManga]

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 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.

[ccsang]

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.

[Anonylz]

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.

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.

[Saisher]

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.

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.

[styca]

My answer is too many shitcoins are based on erc20.

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.

[bolshojkush]

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.

[AlaEhBTC]

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.

[thenextking]

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.

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

[xSkylarx]

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.