DApps and Their Risks
What is a DApp？
A DApp, or decentralized application, is a software application that runs on a distributed network. It’s hosted on a peer-to-peer decentralised network, rather than on a centralized server. Currently, a lot of DApp are based on Ethereum and TRON.
What are high-risk DApps?
High-risk DApps such as Forsage or Etherchain are those which have the bearing of a pyramid or Ponzi-scheme. Notable warning signs include the following:
- A guaranteed promise of high returns with little risk
- Claim to be decentralized and fully transparent, while they are not
- A consistent flow of returns regardless of market conditions
- Claim they are cooperating with well-known wallets, exchanges, while they are not
- Face difficulties when removing their tokens
- Get “rewards” with tokens every time someone joins under you
Here’s a list of top 5 high-risk DApps running on Ethereum:
Top High Risk DApps, Data from dappradar.com
Crypto is full of opportunities, while there are always certain risks behind that. A high-risk DApp can run for a long time without many cracks. You may even have no idea who’s the real person behind it.
Please do your own research before investing in any DApp project. And more importantly, never investing more value into DApps than you can afford to lose.
What is the relationship between imToken DApp browser and those DApps?
When using the imToken DApp browser, some users assume that all these links are safe and they trust these DApp naturally. They even assume these DApps have a partnership with imToken. While it’s not necessarily true.
imToken DApp explorer is like Google search but in a decentralised way. You can enter any links at this explorer and you’ll be able to visit under normal circumstances. And you are responsible for using these third party DApps individually. Users have to pay attention to the DApp they are joining and contact them directly whenever you encounter problems.
To protect our users, we add warm signs or block some DApps since they are high risks and running a Ponzi scheme. If you have found any similar DApps, please report them to imToken at firstname.lastname@example.org.