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Will Cardano be the Binance Shitcoin Chain of the next bull run?

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by COINS NEWS 575 Views

Amidst all the ADA hype, I can't help but ask the question in the title. Each bull run, a single chain seems to be identified as the cheapest and easiest chain to deploy shitcoins and scams on.

In 2017, Ethereum network gas fees were much much lower. As a result, we had the ICO craze. Scammers would copy-paste Ethereum smart contract code and make unrealistic promises for the future of the project. They'd drum up investors' funds and run away with all the money, without any further development.

Fast forward to 2021. Ethereum gas fees are comparatively through the roof, but the fees on Binance Smart Chain are incredibly low. Scammers open up shop on BSC en masse, deploying BabySafeShibaCum and rugpulling investors directly.

Now let's look to the future. Assume for the sake of argument Cardano successfully integrates smart contracts on mainnet before next bull. With the hype around the chain, and if development/gas costs are cheap enough, developers will inevitably start to build there. If gas fees remain low, I could see scammers taking advantage of the popularity of the chain to facilitate 2024 scamcoins, once again en masse.

What do you guys think? Will we need to come up with a witty alternative acronym for ADA, like Binance Scam Chain?

Edit: this is not a Cardano hate post. This is simply speculation on what the ecosystem will look like several years from now

submitted by /u/Drudgel
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