Etherscan, a third-party Ethereum blockchain explorer, is introducing a new feature allowing users to blacklist a maximum of 20 shit airdropped tokens.
The feature dubbed the Private Token Ignore List comes at a time when many projects, claiming to solve real-world problems issue “utility” shit tokens and frozen airdrops and later provide no form of utility to the end user.
Features of a Shit Token/coin
A shit token, as described by the community, provides no solutions to the end-user. It is characterized by the following:
- Lack of clear validation
- Clueless leadership
- Lack of a community
- Poor transaction volumes and market cap—that is, they are largely illiquid, and may struggle with listing
- No definite usability
- Mediocre technical features
- Too many legal risks
- Vague user case
- No minimum viable product
BUT a coin or token isn’t shit if you don’t own it.
Etherscan introduces the Private Token Ignore List Feature
The new Etherscan feature will now allow users to ignore or hide air dropped tokens from projects that may or may not provide value (shit tokens), excluding “the token’s value from the calculation of the total token holdings’ value on Etherscan.”
“Etherscan has introduced a new feature called the “Private Token Ignore List.” The Ignore list feature will essentially allow a user to hide a token and exclude the token’s value from the calculation of the total token holdings’ value on Etherscan.”
“Do take note that the Private Token Ignore List feature does not remove the token transfer events but merely visually hides it from being displayed under your Token Holdings Dropdown list, Token holding details, and Address Watch List token balance.”
New: Just released a feature called the “Private Token Ignore List” https://t.co/lvn0E3YIle –> out of sight, out of mind…😎 hide that s#itcoin today!
— Etherscan.io (@etherscan) February 11, 2020
Ethereum Tokens are Still Struggling to Recover
It must be noted that most tokens are yet to recover from the great decimation of 2018.
Then, following the climactic rise of ETH and Bitcoin, which soared to over $1,450 and $19,500 respectively, tumbled the following year.
Given the positive correlation that exists between leading coins and altcoins, a majority of which are tokens released from platforms as Ethereum, Tron, Waves, and others which continue to crop every day, their high volatility meant they pumped before free-falling.
Most are yet to recover, and down over 90% from their all-time highs, values which may never be retested again.
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Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies and enjoys the opportunity to help educate bitcoin enthusiasts through his writing insights and coin price chart analysis. Follow him at @dalmas_ngetich