>> So Stellar, Cardano and XRP are all scams?
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.
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.