After dismantling 100+ public chains, exclusively revealing 4 routines of fake public chains

When Uncle Jian looks through the background message and group chat content, he often sees questions like the following.

Many project parties claim that their projects are public chains, and the slogans are very high-end packaging, various professional terms, open browsers, and open source codes.

Many people are directly confused by the set of propaganda slogans of the project party, and they can't tell whether this is a real public chain or not.

For example, a few typical questions:

1. The xx project has a public browser, and all the data on the chain can be queried. It should be a real public chain, right?

2. The code of the xx project is open source on GitHub, and the specific code address is also included in the promotional materials. This must be a public chain, right?

If you also have this kind of doubt when facing the publicity of the project party, and you only know a little about how to identify the public chain, then this article will be very suitable for you to read.

Uncle Jian searched the entire network and found that there is no article that can explain this matter clearly, and when searching for articles related to the public chain, there is a high probability that some project parties will find promotional soft articles.

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In fact, open source code is the core prerequisite for judging the authenticity of public chains.

In other words, if a project claims to be a public chain, but does not publish the relevant program code, it must not be a reliable project.

Why is code open source so important for public chains?

Let's first look at the definition of public chain on Baidu Encyclopedia:

Although the concept is somewhat abstract, it is not difficult to find that the two important features of the public chain are:

1. Fair and open.

2. Everyone is free to participate.

To achieve these two points, the prerequisite is to fully disclose the code of the public chain. Otherwise, we can’t see how it works, and we don’t know what consensus algorithm it uses to ensure that everyone can participate freely. It is not even possible to see whether there are loopholes in the code or whether there is a backdoor deliberately designed by the project party.

This will obviously seriously affect the security and fairness of the public chain.

If you don’t understand code development, you may still think it’s a bit abstract. Uncle Jian will give you a magic example, which can let you intuitively understand the huge difference between open-source and non-open-source public chain codes.

I believe everyone has seen the magic of separating living people, just like the picture below.

This is equivalent to the appearance of the code before open source. You don't know what the inside of the covered box looks like, but the effect presented is amazing.

After the code is open source, the scene you see is like the picture below.

At this time, you can see the situation inside the box at a glance, which is why many pseudo-public chain projects dare not really disclose the source code.

Therefore, in the future, if you encounter a project that claims to be a public chain but does not have open source code, even if the project party provides a wallet and a block browser, it is still not a real public chain.

Uncle Jian must also emphasize here that open source code is not the only condition for judging a public chain. A real public chain, in addition to open source code, must also include node deployment and installation instructions, white papers, block browsers, wallets, and development ecosystems. Wait for the key elements.

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However, those project operators who are well versed in deception have long realized the importance of "open source" to them.

As a result, various packaging techniques emerged in an endless stream.

▌Routine 1: Empty directory deception method

There are some circle projects, although they are advertised as public chains, they may not use blockchain technology at all, let alone open source code.

But in order to gain the trust of investors, they will register an account on GitHub, create a project address, and then create a few empty directories at will, and then start to publicize in the community that their code is open source.

The BTD that Uncle Jian picked up is a very typical example.

The project party claims that BTD is the only public chain project for blockchain distributed cloud storage. However, when they open the open source address provided by them, they cannot see any code related to the public chain. In the directory where the public chain code should have been stored [BTD] In , apart from simple configuration files, there is only an empty directory named db.

It can be said that this is the most deceitful means of deception.

▌Routine 2: non-core source code blindfold

The next one is a slightly distracted routine, which is also more confusing.

The project party will not only create a good project address on GitHub, but also upload a lot of codes, but after a closer look, they find that there is no core code related to the public chain at all, but all codes such as browsers and wallets.

A typical project representative is Lianxin.

You can see a lot of open source codes in the open source addresses published by Lianxin. However, all the codes do not involve the core of the public chain, such as the specific implementation of the consensus algorithm, how to complete transactions on the chain, etc., but only wallets and browsers. These non-core codes.

There are also some project parties, in order to make the project look more authentic and credible, they will indeed upload some codes related to the chain.

However, after looking at the code carefully, Uncle Jian discovered that they had plagiarized the source code of well-known public chain projects (such as Bitcoin, Ethereum, EOS, etc.), and then made some insignificant deletions and changes, such as modifying tokens name, modify the issue number, etc.

The GC chain of GEC eco-coin belongs to this kind of routine.

As you can see, it is clearly written in the header of the file that this is the source code of Bitcoin, and there is also the name of Satoshi Nakamoto.

Some time ago, some friends asked about eccoin, which also belonged to this kind of routine.

▌Routine 4: Technological ecology depends entirely on programming

It can be said that this is relatively "intentional" in the public chain packaging routine. This type of project party has done enough work in open source code, uploaded a relatively more complete project code, and there is no obvious trace of plagiarism.

But the biggest problem is that after the project party announced the code, it never updated and submitted new code, which means two possibilities:

1. This project has not made any progress in terms of technology;

2. There is indeed progress in technology, but the project party is unwilling to disclose the new version of the code in order to operate in the dark.

In other words, the understanding is that the technical ecology of the project party is completely based on its own bragging.

A typical representative is NGK. When the project party advertised, it said that outstanding blockchain talents from all over the world are participating in the development of NGK ecology.

However, on their GitHub homepage, it is clearly seen that the project has only uploaded the code once, and the code submission record is already 5 months ago, and the number of watch, star and fork of the project is even more pitiful (these three You can simply understand this data as the technical staff's attention to the project, and the less the data, the lower the attention).

Uncle Jian will show you the three data volumes corresponding to Bitcoin and Ethereum, and you will know how bleak NGK's data is.

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Although Uncle Jian has already told you all the packaging routines of fake public chain projects on the market, after all, there are still certain thresholds in the identification process, especially those involving code analysis.

Therefore, Uncle Jian’s suggestion to you is that next time you see those public chain projects, first disassemble them according to the routine that Uncle Jian said. Once you find that you must analyze the code to distinguish, you can leave me a message. I spend time every week to help you analyze various projects in depth.

In addition, I will teach you a more convenient judgment method (the misjudgment rate is almost 0). Anyone who claims to obtain multi-level high returns by pulling people's heads must be an unreliable public chain project. In layman's terms, it is a pyramid scheme.

You just look at typical public chains like Bitcoin and Ethereum, have you pulled people around to build a team? Will they earn more because you have more people and more downlines?

Obviously not.

And look at those pseudo-public chain projects that claim to be public chains, do they all pack various pull models?

Jianshu summary

Well, that’s all for writing about the public chain Jianshu.

After Jianshu's dismantling, you should find that it is not that difficult to judge the true and false public chains. Remember that the most important thing is the code, because you can really see the technical level and strength of the team from the open source code. This is not It can be done by bragging alone.

Uncle Jian also clearly tells you that if it is not a public chain, but you want to brag about how powerful you are, even if his currency price is high by traders, this kind of project is worthless and will be harvested at any time. If you don't listen to advice and insist on playing, then you can only do it yourself.

Uncle Jian would like to send you another sentence: if the public chain project does not disclose all the source code, it is playing hooligans!

In addition, many projects are mentioned in this article, but because the main analysis direction this time is the public chain, so there is not much involved in the project model, project background, trading techniques, etc. If you want to see which project is more comprehensive For hard-core analysis, you can leave a message at the back of the article and click [Reading]. If there are many followers, I will write a corresponding in-depth analysis article.

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