Can two crypto currencies have the same name?

[zingua]

I was looking for tokens on coinmarketcap, I noticed that when I type "UNI" I get many tokens sharing the same short name (UNI) like Uniswap, Universe,Unicoin ect... Isn't each name of a crypto currency should be unique?

 

[SocialManager]

500 cryptocurrencies can have the same name. There is no way to force the names to be unique. There is no central approval required to create a cryptocurrency.

 

[zingua]

500 cryptocurrencies can have the same name. There is no way to force the names to be unique. There is no central approval required to create a cryptocurrency.

oh really? so if someone is making a token on the BSC, and name it bitcoin(btc) let's say it will be successful and get listed on binance, so you will get to see 2 coins with the exact same name?

 

[beriener]

Yes, two coins can have the same name. People do it for scams.

 

[HunterLife]

I was looking for tokens on coinmarketcap, I noticed that when I type "UNI" I get many tokens sharing the same short name (UNI) like Uniswap, Universe,Unicoin ect... Isn't each name of a crypto currency should be unique?

Not at all

Same name isnot Possible

 

[MKSKS]

I was looking for tokens on coinmarketcap, I noticed that when I type "UNI" I get many tokens sharing the same short name (UNI) like Uniswap, Universe,Unicoin ect... Isn't each name of a crypto currency should be unique?

Shortnames are same for many coins & a way people get scammed often. People end up buying the wrong coin most common due to this.

 

[Adwordsexperts]

i dont think its possible

 

[Pipelin]

Noticed scammers use small changes in the name so It will look the same, for example:
Shiba (original) vs ShIba (fake name with "i" or "L" changed)

 

[zingua]

Not at all

Same name isnot Possible

so there's a verification to see if the name of the coin is already used while deploying the smart contract? right?

 

[Sammm]

yes two coin have same name no worries

 

[RottenApple]

What's the correct answer here?

I think the short name of it like "UNI" might be used multiple times on different tokens.

The name of the coin "Uniswap" can not be used by another coin.

This is my hypothesis.

 

[AlexanderTheGreat]

Yes, it's possible.
But owners of big listing websites like Coinmarketcup aren't stupid, lol.
So you can create as many BTC (Bitcoin's) as you want, but it's pointless.

 

[Shibbi90]

Lots of coins with the same symbol on coinmarketcap, but not on exchanges. Not all coins got the same symbol on cmc and exchanges. The exchange will decide what symbol the coin gets.

 

[Dragonasu]

Yes, it's possible.
But Coinmarketcup don't put your coin in their list.

 

[SocialManager]

What's the correct answer here?

I think the short name of it like "UNI" might be used multiple times on different tokens.

The name of the coin "Uniswap" can not be used by another coin.

This is my hypothesis.

Don't listen to dumb people saying it's not possible. They have no basic understanding of how crypto works.

Ask them to explain what stops 2 cryptos from having the same name and they can't tell you.

 

[Gogol]

Depends on the blockchain actually. Some blockchains like Elrond specifically adds alphanumeric chars after the token to prevent duplicates (but in theory, it could be possible there as well). On eth, yepp afaik tokens can be duplicates. That said, what's more important than the name is the contract address itself, and that's always unique.

 

[SocialManager]

That said, what's more important than the name is the contract address itself, and that's always unique.

Not when it comes to fraud. The fraud works when people search for your name and find your page somewhere. It doesn't matter that a contract address is unique, because the people falling for the fraud don't have the correct contract address to compare it to. 982347ry98r7wwr is not somehow more trustworthy than ipoduh8937rfgg4. They are both unique strings.

 

[Gogol]

Not when it comes to fraud. The fraud works when people search for your name and find your page somewhere. It doesn't matter that a contract address is unique, because the people falling for the fraud don't have the correct contract address to compare it to. 982347ry98r7wwr is not somehow more trustworthy than ipoduh8937rfgg4. They are both unique strings.

Ya lol. There will always be dumb people. Money + dumbness = dangerous. People should definitely look into understanding what's what, if they are buying out of exchanges.

 

[SocialManager]

No, there are many types of cryptocurrencies out there, but it's unlikely that there will be two secret currencies with the same name. If the price of a cryptocurrency you bought differs from that of another with the same name, you could be in for a scam. There are many cryptocurrency trading platforms in the market, and among them, there will also be fake platforms that need to be identified when purchasing cryptocurrency.

This feels like low effort AI-generated response. It is factually incorrect and totally not helpful.

 

[paisawaisa]

Shortnames are same for many coins & a way people get scammed often. People end up buying the wrong coin most common due to this.

It is mistake of buyers also. They should do proper research before buying.