/biz/ - Business & Finance

>>12890782

Give me an example of one of the claims that you think hasn't been sufficiently debunked at SkyFUD.com

Tokens are crypto projects that launch on somebody else’s blockchain—for example ERC20 tokens on the Ethereum blockchain or NEP-5 tokens on the NEO blockchain. It requires absolutely no blockchain expertise to create a token. Anyone can do it, in just a few minutes.

Forks are essentially copies of another blockchain, with a new name, and either a slight modification to the code or sometimes no significant changes at all. Again, it takes very little skill to fork a blockchain and to promote it along with a convincing-looking white paper.

New forks and tokens pop up every day, and often the creators/developers are anonymous, which further increases the probability that these projects are scams.

In contrast, the projects least likely to be scams are those that demonstrate these characteristics:

1. Has developed its own blockchain
2. Has a known and visible team
3. Has established longevity
4. Has a working product

Article continues here: https://medium.com/@macrobusinesstv/how-to-identify-a-cryptocurrency-scam-and-why-skycoin-is-the-most-genuine-blockchain-project-in-54671b078229