How can scam/fraud be eliminated in BLockchain Technology?

[Sincerem]

Trying to eliminate scammers is an almost impossible task, and we just have to make sure you're taking caution because they are continuously restrategizing every blessed day.

It is because of how the blockchain technology was created to be . it is a decentralized platform in which every transaction occurring in the block chain cannot be traced. That is why it will be difficult to completely eliminate scammers.

 

[Good-Person]

The only way to avoid and stop fraud is to raise awareness in the cryptocurrency community. This is the only way right now as many cryptocurrencies are definitely not regulated.

 

[Sotherefore]

Because of the nature of cryptocurrency and how it was created to be , scamming activities will not be completely eliminated except platforms and exchanges put strict rules and all preventive measure to prevent people from being victimized

 

[greenie]

The only way is by making sure that security is made extremely tight in blochchain
Making sure that any body that want to login aside the owner of the account, a virus is sent to the intruding device.

 

[Bigron]

As you may have read/heard in the news, There has been lots of hacking and frauding taking place in most Crypto currency exchange platforms likewise Cryptocurrency wallets also.

In your opinion and experience how do you think this ugly development can be eliminated or curb?

I think if you have used two-factor authentication to protect important details about the crypto wallet, you are exempt from these despicable actions. I do think that the security of various exchange platforms should be strengthened

 

[Imran_Noori]

As you may have read/heard in the news, There has been lots of hacking and frauding taking place in most Crypto currency exchange platforms likewise Cryptocurrency wallets also.

In your opinion and experience how do you think this ugly development can be eliminated or curb?

I think it happens sometimes with some exchanges but crypto itself is unhackable because it is working with Blockchain, in order to hack Blockchain you need to hack all blocks one by one and I think it is nearly impossible.

 

[Good-Person]

It is because of how the blockchain technology was created to be . it is a decentralized platform in which every transaction occurring in the block chain cannot be traced. That is why it will be difficult to completely eliminate scammers.

I Think that many Hyip sites are now misusing bitcoins and the government must take action against such kind of websites. They need to shut down such kind of sites.

 

[Sincerem]

I Think that many Hyip sites are now misusing bitcoins and the government must take action against such kind of websites. They need to shut down such kind of sites.

The government of moste countries always try to advice its citizen to stop investing in platforms like this. Do you think the government will be able to stop these platforms from operating ?

 

[nana kwasi]

The only approach is to ensure that blockchain security is exceedingly tight.
A virus is transmitted to the intrusive device to prevent anyone other than the account owner from logging in.

 

[Sotherefore]

It is completely impossible . The important thing is for crypto wallet and exchanges to ensure tight security of their customers assets on their platform. From my understanding I think the blockchain Ledger is secured enough to prevent production of fake cryptocurrencies

 

[Laurentta]

I honestly don't think that fraud or scam can be easily eliminated in block cha I technology as people are developing more ways to scam or fraud people as the days go by.

 

[Joseph555]

various exchanges and wallets can minimize hacking in the Blockchain. I love the recent security measures being taken by most of the exchange sites because Blockchain frauding is now minimize and even when it happened,

 

[nana kwasi]

This Telegram smart contract fraud has repeatedly targeted me. While there are some great smart contracts, I think the majority are open-source pure fraud schemes at the moment. You must be very careful when making your choice.

 

[Mighty]

Well I actually don't know but I believe if your account is secured with two factor authenticator, it can go a long way in securing your wallet, that's why most crypto platforms now use it to secure customer account

 

[Bigron]

As you may have read/heard in the news, There has been lots of hacking and frauding taking place in most Crypto currency exchange platforms likewise Cryptocurrency wallets also.

In your opinion and experience how do you think this ugly development can be eliminated or curb?

I think in general the exchange platforms can do more to prevent the threat of hackers and unscrupulous scammers. With that being said, I think everyone with a cryptocurrency wallet should be able to enforce two-factor authentication in their wallets

 

[tyrim88]

There are ways that cryptocurency platform can make use of to be able to make the account of users very safe,by introducing the two factor authenticator process that some platfoems have started adopting will go a long way to safeguide the account of users.

 

[Good-Person]

The government of moste countries always try to advice its citizen to stop investing in platforms like this. Do you think the government will be able to stop these platforms from operating ?

Well, honestly, I do not think that the government would ever be able to stop people at all. The government would only disable banks from trading in cryptocurrencies and this is all it can do.

 

[GoldenLady]

As you may have read/heard in the news, There has been lots of hacking and frauding taking place in most Crypto currency exchange platforms likewise Cryptocurrency wallets also.

In your opinion and experience how do you think this ugly development can be eliminated or curb?

Some projects can work towards that, but it is the inherent flaw of some coins like Bitcoin we can't get rid of. Also, as we devise more methods to stop scammers, they also work hard to counter those efforts.

 

[Mohammed Rashid]

Malicious users are unable to add fraudulent blocks to the public ledger without others catching them right away because the blockchain is constantly monitored by the entire network of nodes, each of which keeps a copy of the blockchain.

 

[Agbalagbaa]

We have a lot of scam cryptocurrencies online you have to be very careful, if you are not careful you might easily fall for them, I'll advise you to make a good research before investing your money on any cryptocurrency.