Ninjastic
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Board Altcoin Discussion
Re: ERC20 gives birth to too many shitcoins
by
trickyriky
on 20/08/2019, 20:07:45 UTC
Quote from: acoco on August 17, 2019, 06:52:27 PM
Quote from: Coin BTC on August 17, 2019, 06:36:07 PM
Quote from: VDraci on July 02, 2019, 07:29:38 PM
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.

To make ERC20 tokens is indeed very easy. Almost all of us can make ERC20 tokens. I think this is not a block chain problem that makes this token become trash or has no selling value. But the platform developed by parties using the ERC20 block chain does not work.
Tether (USDT) also uses the ERC20 blockchain, but they are running well. Even this coin has the same function as using a separate blockchain (Omni).
I think this is not a matter of blockchain being used, but rather who uses the blockchain.
Ethereum is constantly evolving, and is moving to Ethereum 2.0, there will be many new products and different standards, not only erc20, so I would prefer this cryptocurrency to the throne

The ERC-20 protocol is not always sufficient for token purposes. This is only the basis for the creation of Ethereum tokens, which does not guarantee their benefits, value or performance. ERC20 is also cryptocurrency that is created on the base of Ethereum blockchain.
Shitcoins, unfortunately, can be also released. However, ERC20 standard is still very useful, and it will be used long although ICO scams affected it negatively.