How will the Cardano Project prevent all the scams and low quality tokens that Ethereum has caused?

Developers Native Tokens
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Sorry, I get it - you mean ETC – “code is law” principle - no exception!

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Hi, Rob,
I also like philosophy and mistery - (for me)which includes crypto/bloskchain tech). When reading your conclusion I’ve got a picture in my head, revealing that quality and quantity could well be interdependant. In order, to comfort you, i am sharing the vision with you:

Higher quality that the foundation of a building is, larger number of flats can be built on top of it. The lack of quality can completely disable, or at least greatly limit the quantity (number of flats/floors). I think that for this reason the Cardano’s developers, led by Charles H., have began to build everything from the beginning, despite of the time-related risks involved, the decision which had undoubtedly required a lot of courage and thus deserves appropriate recognition, or even admiration.

Since it has been detected, “the quantum leap principle” spread the field of its playing (in the human vision) and I am currious what will bring to the crypto field.

I hope this brings you an exciting curiousity about the future, a sort like children have after waking in the morning.

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Yes, well, if a crypto claims to be immutable and decentralized then there must be no exceptions to reverse transactions. Either it is or it isn’t immutable.

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What transactions did Etherium reverse and what was the justification?

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  1. https://www.coindesk.com/understanding-dao-hack-journalists/
  2. Video Guide: What is Ethereum? - Blockgeeks
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What transactions did Etherium reverse and what was the justification?

A big player in the space deployed a smart contract that had a vulnerability. The smart contract was hacked and large amount of funds were [ taken | stolen ] from the fund the smart contract was managing.

Because the player was BIG in the space, it was deemed TOO BIG TO FAIL – heard that before? :wink:

So they did a hard fork to get the funds back. Now people say that the fork was voted on, but really the fork was done very quick in such a way that hardly anyone got to vote on it.

This violated the immutability of the blockchain - a central guiding principle, that no transaction shall ever be backed out.

After this took place, some people felt that the action was wrong, so wrong they did not support the fork, and continued with the original chain. That is ETC.

The majority went with the fork, that is ETH. The problem of course is that now a precedent has been set - who else will be bailed out? And just as importantly HOW BIG AND WELL CONNECTED DO YOU NEED TO BE, TO GET A BAIL OUT?

And that is where we are now. :slight_smile:

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