Can two crypto currencies have the same name?
- Thread starter zingua
- Start date
SocialManager
Elite Member
- Nov 26, 2018
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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?
HunterLife
Banned for rules violation.
- Feb 27, 2021
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MKSKS
Banned for failing to resolve dispute.
- Jul 11, 2013
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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
Newbie
- Aug 26, 2021
- 26
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i dont think its possible
so there's a verification to see if the name of the coin is already used while deploying the smart contract? right?
RottenApple
Regular Member
- Dec 24, 2020
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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.
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
Power Member
- Jan 23, 2021
- 738
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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.
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.
SocialManager
Elite Member
- Nov 26, 2018
- 3,155
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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.
- Sep 10, 2010
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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
Elite Member
- Nov 26, 2018
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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.
- Sep 10, 2010
- 11,814
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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
Elite Member
- Nov 26, 2018
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This feels like low effort AI-generated response. It is factually incorrect and totally not helpful.
paisawaisa
Elite Member
- Mar 23, 2022
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It is mistake of buyers also. They should do proper research before buying.