Decentralization as a solution for scams in crypto space

Decentralization as a solution for scams in crypto space

How did it come to this?

Cryptocurrency was introduced 13 years ago, and to be honest, not many cared. Back when esports competitions gave prizes in Bitcoin, which may have gotten you a pizza.

Today, having 25 Bitcoins can be a pension plan, a new house, or whatever else you want. Many things have changed in the crypto market, and the greatest change comes from everybody suddenly caring. We saw one of the biggest bull markets in history, where everybody and their mothers were investing in one or the other project.

Decentralized financial heaven. Power in the hands of the small people. With some savvy investment, patient hodling, nose for opportunities, it was an easy way out from the 9-5 grind. But while people thought they got the power, the rich and powerful were still getting richer while the small guy remained small.

Whales that could easily outbuy any individual came into play and shook the crypto market to its core. Is it really decentralized if one tweet can plummet a project? Not to dwell deep into the workings of the crypto market, let’s shift our focus onto the ones that claim to be here for us – the small and mediocre players.

Aggregators aggravate

Most of you know what an aggregator is. Cryptocurrencies aggregators bring most of the information about cryptocurrencies projects, volume and prices.

It is like a message board providing everyone with information about currently available projects on the market. They are decentralized, independent, and do not affect the market – they just share the information, or do they?

The problem is that the biggest aggregators actually run the game. Big tokens have no problem spreading the word, but what’s up with the newer ones - With projects that just started. Getting listed on one of the biggest aggregators can make or break you. How do you make it?

Looking from the perspective of a token creator: The barrier to entry is too high for small projects. You have to tackle high listing fees, and acceptance depends on an oligarchic decision (which means big bosses decided). The centralized aggregators often have a discretionary policy. That means you won’t get listed if your project is not a good fit for the platform, typically meaning your project is irrelevant for the big players.

Looking from the perspective of a crypto trader: You will never hear about 90% of the projects out there that might’ve exploded once listed.

Cake was a lie

Lack of transparency and usage of dark patterns is another problem. As centralized aggregators don’t accept payments for listings, so-called agencies came to scoop off the top. The unsavory dark market allows those agencies to take enormous sums to “get your listing through”. Going through the agency doesn’t guarantee your listing, and the whole process is very ill-mannered.

Using these loopholes is something that you would frequently find in the classic corporate environment of the old financial system.

Blockchain was designed to prevent these things from happening and make a financial democracy a reality, and it seems the long arm of the controlled system grabbed your freedom. Even though cryptocurrency remains decentralized and free from the classic corporate environment, the thirst for money drove systems that were here to protect investors and provide them with information to a situation where their loopholes are used for centralized control and money-grabbing.

Decentralized Crypto Research and Listing Platform

In response to the problems we mentioned, CryptoToday came up - a listing platform, an aggregator, but it is truly decentralized as there are no big bosses in the office deciding what’s getting listed or which project fits the platform narrative.

It will be beneficial for the crypto community because:

  • The listing is extremely fast (108h at most)
  • Listing is way cheaper
  • Everything is community-based
  • Newly listed projects will instantly have high community awareness (free marketing)
  • Vote to earn will award those who vote the most
  • No presale of $LIST token

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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