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by colesantiago
1830 days ago
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So Stellar, Cardano and XRP are all scams? > Polkadot: They claim everywhere to have 'Parachains'. The reality is that this feature doesn't exist yet. So it's a scam because it doesn't exist yet and it's planned on the roadmap? That's like saying Ethereum 2.0 is a scam because it doesn't exist yet. It's extremely easy to call projects scams when you're not the one doing the work. |
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When Stellar started, they were all about 'Quorums'; trying to imply that this was the secret sauce which would allow it to scale unlike any other blockchain. I initially thought that quorums were like separate shards but after asking around years ago, I found out that it was not the case; all transactions pass through all nodes; exactly the same as a plain old blockchain. These days they barely even mention the concept of a 'quorum' because it was never anything more than a scammy marketing tool.
I don't know too much about Cardano so I won't criticize too much but when I skim-read their whitepaper about 1 year ago, it sounded over-complicated. This is a red flag for me. Also, they are yet to implement smart contracts; so there is a long way ahead. I don't like that they keep bragging about their all-PhD team. In my experience, PhDs aren't good at delivering good developer experiences or limiting the amount of complexity.
I wouldn't say that XRP/Ripple is a scam; but only because they don't make it a secret that they are essentially a centralized crytocurrency with multiple nodes for redundancy. But some could argue that they are a scam based on the fact that they don't solve any of the problems that a cryptocurrency is meant to solve (this critique pretty much applies to all top cryptocurrencies BTW; they don't solve any significant economic problem aside from upholding the status quo; the opposite of what they claim to do).
>> So it's a scam because it doesn't exist yet and it's planned on the roadmap?
It's scammy because they sell it as if it already exists, but it doesn't.