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RE: Defending Steem from the most used word in crypto - SCAM - Please help with defense
The following are my defenses:
- a blockchain exists that can be explored and checked for veracity (www.steemd.com)
- each individual block can be inspected
- the project is open source
- a number of developers are building on it, enhancing my trust in the safety and security of the underlying code
- I have never heard of a 'zero day exploit' being built into a blockchain/distributed computing platform
- Given my understanding of bitcoin and the technology that makes it possible, my trust in Steem is enhanced primarily because it builds on the security of bitcoin indirectly
Forgot that it's open source. Very good reasoning there. Hopefully we can build a load of defenses that we can rattle off without even thinking.