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Eagle Network – a little too fast, a little too much?

I have often said that to gauge whether a project is a scam or not, we will need to look at how the platform is developing. Any crypto mining project will need features. There is no such thing as a project that comes online and instantly works and developers just rake in all the success. Even Bitcoin had to improve and modify its code in order to be relevant and to have traction with the public. You should check out the development of Bitcoin when it first started and we are talking about a relatively old blockchain technology. However with that all said, the recent development of Eagle Network has led me to believe that the opposite can be true.

Allow me to explain my reasoning. If you have been following this blog and following what is happening to the Eagle Network, you can easily see what I am talking about. Within a short period of about a month, they have not only created their token on the Binance Smart Chain, they have also developed their wallet to support their staking feature, started testing their staking feature and even announce their own decentralized exchange and its own token. We are talking about so many features and changes within like a month or so. And these are stuff which should require a lot of testing to ensure it is working correctly. We are talking about blockchain here – where if there are mistakes, these will remain on the blockchain forever. And with so many changes within such a short period, the users are also getting confused with what is happening. To add to more confusion, they are trying their best to ensure that their tokens will not be dumped during launch, so they added a staked feature in their mining application. Only staked Eagle will then be allowed to be transferred to the wallet. Furthermore, they have so many different tokens in their ecosystem – their Eagle Tokens, their Egonswap tokens and finally with the launch of their own blockchain, their Egoncoin “tokens”. I don’t know man. I have been keeping myself updated and I got confused as to what the hell is happening. Just check out their telegram group. And we are not even in the KYC stage yet!

So yes I think the developers should slow down a bit. Yes they do have a very ambitious roadmap to follow. But come on, it is just way too ambitious and I think it would lead to more problems down the road. I have seen users with problems creating their wallet even. There are even users who are not able to find the staking feature in their mining application. Heck, I myself could not find the staking feature as it was deep into some obscure part of the application. Yes there is certainly nothing wrong with changing their roadmap. I don’t really understand what the rush is anyway. I think a delay of about a month or so would be better for the project overall. And they do need a lot of internal testing first. Of course that is just me. There are users who disagree and would like the project to be quickly developed and the tokens launched. But aren’t these the very people who would be the ones who will immediately sell their tokens to cash out when there is a chance? I think it is not really that healthy if the developers only listen to these group of users. And if the Eagle Network is really a long term project, why is there such a rush for these features to be pumped out? Get it right the first time. Instead of having issues and making the users have to wait for bugs to be resolved. That should be a better way. That is why I believe in the Cardano project.

By Admin

Someone who is very keen on small scale investments like crypto, mining and other investments. For the common folk!

3 replies on “Eagle Network – a little too fast, a little too much?”

[…] I also didn’t know that there is a cost to actually mint a token. But I am guessing that there should be some cost involved. Nothing is for free on a blockchain as someone needs to do something and that involves some work. The problem here is to extremely low value of the Eagle tokens – which makes it not economically to do any form of transaction. This project certainly didn’t have a great start. But we all learn and I did tell all my readers never to buy all such tokens. You will never know whether they will actually succeed. Even if the developers are not out to cheat or scam you, there is a chance that they didn’t think everything through. Sadly, this happened. The project is probably dead in the water now. I have seen a few major issues along the way as the project was in development throughout the 7 months. You can read them here and here. […]

[…] And guys, it is important to understand that most of these projects will require you to “mine” or mint for a long time. The Pi Network project is still ongoing since 2019! Just imagine clicking buttons everyday on your mobile device everyday 365 days a week. The dedication needed. So if you are expecting to make a quick buck, then crypto mining is just not for you. Most start very small and they develop their services and ecosystem over time. If you ask me, I think it is pretty reasonable for a project like Pi Network to take 3 to 4 years to really take off the ground. The Hi Dollar team has said that their development cycle will take 4 years to build up their products and services. They even have 1 year lockup periods for their tokens. And the Hi Dollar project seems to be very well funded. Things take time. If a project is being rushed through, hiccups will often occur. We don’t need to look far to see that is true. Eagle Network anyone? […]

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