It's About time We Look Beyond The Digital Currency

[Mrsparks]

The yearly increase in amount of cryptocurrencies in existence since the advent of bitcoin has been sporadic in my opinion. Sometimes I think this growth even belittle the integrity of blockchain technology. I mean are cryptocurrencies the only special features of blockchain technology?. It's a shame today we have projects offering services that are 100% alike to others , so much proliferation of projects with similar services in the crypto-market. Another annoying one is the amount of forks the space has witnessed leading to new cryptocurrencies with exact usecase. Apparently it's beginning to look like everyone wants to be founder and CEO of their own projects. Majority of the blockchain projects today in my own opinion should never have existed or could have just existed as Decentralized Applications running on blockchain.

This uncontrolled proliferation of cryptocurrencies has effects on both enterprises such as the Government and major co-operations and as well investors/traders. The Governments of the world have secretly started implementing blockchain technology and tools to boost efficiencies in their operations but their stance on cryptocurrencies remain strict due to the lack of trust in the crypto market. Investors and traders are bombarded with a host of options to pick from with majority of those projects what I tag "Dead on arrival",waiting to swallow up investors funds and disappear into thin air..

In conclusion,  I think the project developers need to reconsider their options. Why must they all have dedicated currency? Why not create a project with unique usecase and implement your product to accept cryptocurrencies that are already established in the space? Why not partner with notable crypto platform and make your project a Decentralised Application (dAPP)  using the blockchain framework and currencies of the crypto platform?. I think for mass adoption of cryptocurrency to ever happen the  crypto-community needs to focus more on projects that will bring use cases that will rival what is available in the traditional system of the world than producing more cryptocurrencies with zero real life application and uniqueness. There is so much untapped potentials in blockchain technology that the world is yet to see because developers focus too much on currencies rather than use cases.

[funchiestz]

Another annoying one is the amount of forks the space has witnessed leading to new cryptocurrencies with exact usecase. Apparently it's beginning to look like everyone wants to be founder and CEO of their own projects.

I completely agree with this. I never approve that forks. And I don't think they want to be founder or CEO with their own project. They want to be rich and they want to it without working and creativity. They are not capable of create a new projects but they are using Bitcoin's or any other major coins name. Unfortunately, they are finding a supporters on the market.

[GospelCrypto2]

Sometimes the overwhelming number of cryptocurrencies makes it difficult for one to make investment choice.. Especially with most of them offering the same or similar services..

[Debonaire217]

Another annoying one is the amount of forks the space has witnessed leading to new cryptocurrencies with exact usecase. Apparently it's beginning to look like everyone wants to be founder and CEO of their own projects.

I completely agree with this. I never approve that forks. And I don't think they want to be founder or CEO with their own project. They want to be rich and they want to it without working and creativity. They are not capable of create a new projects but they are using Bitcoin's or any other major coins name. Unfortunately, they are finding a supporters on the market.

Maybe not all are having the same condition as this. Forks are meant to be an upgrade, a renewal, development and also, a synthesis. It is the process on which blockchain and crypto could be enhance, not really a way to create a company and become a CEO, but too bad, people will do just for it.

[Kingairdrop]

You are very on point as usual, new projects with existing use cases should be curtailed and prevented from entering the crypto space... but this can only be achieved through regulating cryptocurrency. Now the issues of fork coin are just a means for lazy developers to acquire names and wealth for themselves without doing any job. Thats just too bad

[Wale777]

Yes the proliferation of projects are overwhelming and makes it cumbersome for investors to handle as such most people invest randomly. I totally agree to the launching of decentralized app which will accept Crypto as fees for their services other than creating some useless and valueless cryptocurrencies that does not have any real life application, I think if that can be adopted then Crypto can compete with traditional currency/Fiat

[Mrsparks]

Another annoying one is the amount of forks the space has witnessed leading to new cryptocurrencies with exact usecase. Apparently it's beginning to look like everyone wants to be founder and CEO of their own projects.

I completely agree with this. I never approve that forks. And I don't think they want to be founder or CEO with their own project. They want to be rich and they want to it without working and creativity. They are not capable of create a new projects but they are using Bitcoin's or any other major coins name. Unfortunately, they are finding a supporters on the market.

Maybe not all are having the same condition as this. Forks are meant to be an upgrade, a renewal, development and also, a synthesis. It is the process on which blockchain and crypto could be enhance, not really a way to create a company and become a CEO, but too bad, people will do just for it.

was actually referring to the Hard forks which lead to a new blockchain architecture . We have had quite too many in crypto with a majority of the emerging projects dieing as soon as the developers cash out..

[drgomez89]

Well in my opinion the whole enviorement its going to reward the hard workeing proyects even when almost everyday born new coin, the hard work and the creativity of the team behind the proyect are the one who make them a token with real value oe another shitcoin of the thousands that already exist,, the blockchain is a living thing, and all ofd us are micro organism part of it

[webtricks]

In conclusion,  I think the project developers need to reconsider their options. Why must they all have dedicated currency? Why not create a project with unique usecase and implement your product to accept cryptocurrencies that are already established in the space?

I agree with your point. Starting new projects backed by new cryptocurrencies no longer make much sense. 90 out of 100 such projects are either failed attempts or non-serious try.
But crypto space doesn't have any other option so far. When raising money from people, projects have to offer something in return as a security to investors. Unlike real world, crypto space is unregulated so it is not possible to issue shares validating invested amounts. Tell me why would I invest money in XYZ project if XYZ isn't giving me anything in return? Creating anything requires funds so without funds projects won't thrive. Therefore, issuing tokens is one of the best way to solve this issue in crypto space and to power the value of such tokens, projects integrate tokens in their platform. Theoretically, that's the win-win situation.

[armarsterling7]

The yearly increase in amount of cryptocurrencies in existence since the advent of bitcoin has been sporadic in my opinion. Sometimes I think this growth even belittle the integrity of blockchain technology. I mean are cryptocurrencies the only special features of blockchain technology?. It's a shame today we have projects offering services that are 100% alike to others , so much proliferation of projects with similar services in the crypto-market. Another annoying one is the amount of forks the space has witnessed leading to new cryptocurrencies with exact usecase. Apparently it's beginning to look like everyone wants to be founder and CEO of their own projects. Majority of the blockchain projects today in my own opinion should never have existed or could have just existed as Decentralized Applications running on blockchain.

This uncontrolled proliferation of cryptocurrencies has effects on both enterprises such as the Government and major co-operations and as well investors/traders. The Governments of the world have secretly started implementing blockchain technology and tools to boost efficiencies in their operations but their stance on cryptocurrencies remain strict due to the lack of trust in the crypto market. Investors and traders are bombarded with a host of options to pick from with majority of those projects what I tag "Dead on arrival",waiting to swallow up investors funds and disappear into thin air..

In conclusion,  I think the project developers need to reconsider their options. Why must they all have dedicated currency? Why not create a project with unique usecase and implement your product to accept cryptocurrencies that are already established in the space? Why not partner with notable crypto platform and make your project a Decentralised Application (dAPP)  using the blockchain framework and currencies of the crypto platform?. I think for mass adoption of cryptocurrency to ever happen the  crypto-community needs to focus more on projects that will bring use cases that will rival what is available in the traditional system of the world than producing more cryptocurrencies with zero real life application and uniqueness. There is so much untapped potentials in blockchain technology that the world is yet to see because developers focus too much on currencies rather than use cases.

I think it is normal to have more and more electronic money with similar functions. That happens when startups know that this is a potential market and they want to fight for their own market share. That will make crypto even richer. I think you should have a more positive thought about this. 

[mrdeposit]

The yearly increase in amount of cryptocurrencies in existence since the advent of bitcoin has been sporadic in my opinion. Sometimes I think this growth even belittle the integrity of blockchain technology. I mean are cryptocurrencies the only special features of blockchain technology?. It's a shame today we have projects offering services that are 100% alike to others , so much proliferation of projects with similar services in the crypto-market. Another annoying one is the amount of forks the space has witnessed leading to new cryptocurrencies with exact usecase. Apparently it's beginning to look like everyone wants to be founder and CEO of their own projects. Majority of the blockchain projects today in my own opinion should never have existed or could have just existed as Decentralized Applications running on blockchain.

This uncontrolled proliferation of cryptocurrencies has effects on both enterprises such as the Government and major co-operations and as well investors/traders. The Governments of the world have secretly started implementing blockchain technology and tools to boost efficiencies in their operations but their stance on cryptocurrencies remain strict due to the lack of trust in the crypto market. Investors and traders are bombarded with a host of options to pick from with majority of those projects what I tag "Dead on arrival",waiting to swallow up investors funds and disappear into thin air..

In conclusion,  I think the project developers need to reconsider their options. Why must they all have dedicated currency? Why not create a project with unique usecase and implement your product to accept cryptocurrencies that are already established in the space? Why not partner with notable crypto platform and make your project a Decentralised Application (dAPP)  using the blockchain framework and currencies of the crypto platform?. I think for mass adoption of cryptocurrency to ever happen the  crypto-community needs to focus more on projects that will bring use cases that will rival what is available in the traditional system of the world than producing more cryptocurrencies with zero real life application and uniqueness. There is so much untapped potentials in blockchain technology that the world is yet to see because developers focus too much on currencies rather than use cases.

I think it is normal to have more and more electronic money with similar functions. That happens when startups know that this is a potential market and they want to fight for their own market share. That will make crypto even richer. I think you should have a more positive thought about this. 

Being decentralized is causes this. If there were regulations on this, there would not be plenty of coins in a sector.
This is good for us. Because, there will be a lot of choice and we will be able to choose appropirate one.

[EnormousCoin101]

It is true that there are lot of projects out there that has a same concept due to the competition which I think is not that bad either because in real world we also have different companies that offering same product or services so in my opinion it is also natural in cryptosphere.

[Isiaka208]

It's true that we have more and more projects similar in nature,  but there has to be competition to keep the space tough of some sort.

[Indrawan77]

I think the developers now are more focus on the profit not the technology or the usage anymore, I don't see any good coin anymore, most of the coin will disappear after few months hitting the exchanges, if the creation of ICO is not controlled and being fixed then it can hurt the crypto currencies ecosystem and it could impact all the crypto users

[Herbert2020]

90% of the projects were created purely to make profit. all these ICOs (the so called smart contracts and Dapps) are all useless junk that are filling the market and were created so that the creators can make millions for doing as little work as possible. then we have these platforms such as ethereum which were created to allow these useless tokens be created in an easy manner.

the issue is not with having lots of them, the issue is that people stopped demanding technology and started focusing on profit. so we are left with this much junk.
otherwise the cryptocurrency front needs a ton of improvement and the space between bitcoin and the next coin that comes close is so huge that the second currency is always being ignored!

[novusordo]

The decentralization of the ecosystem has led to proliferation of cryptocurrencies which is very troublesome. Until we have stringent measures that allows only quality projects to infiltrate the market, we will continue to face this volatility and neglect from the centralized world

[Cyptobonds1]

Yes. Just like I mostly think if we can find a cryptocurrency project with a different idea and product assigned to use the coin in exchange of the products or even to be used in a different services. No, all are just meant for extracting found and other coins or maybe they're not yet complete yet who knows.

[Lagduf]

Another annoying one is the amount of forks the space has witnessed leading to new cryptocurrencies with exact usecase. Apparently it's beginning to look like everyone wants to be founder and CEO of their own projects.

I completely agree with this. I never approve that forks. And I don't think they want to be founder or CEO with their own project. They want to be rich and they want to it without working and creativity. They are not capable of create a new projects but they are using Bitcoin's or any other major coins name. Unfortunately, they are finding a supporters on the market.

Maybe not all are having the same condition as this. Forks are meant to be an upgrade, a renewal, development and also, a synthesis. It is the process on which blockchain and crypto could be enhance, not really a way to create a company and become a CEO, but too bad, people will do just for it.

was actually referring to the Hard forks which lead to a new blockchain architecture . We have had quite too many in crypto with a majority of the emerging projects dieing as soon as the developers cash out..

Because those developers don't even care about the liquidity and it looks like they are lack of economic knowledge about the liquidity is the very important thing. Those developers are only wanna cashing out their money without even care with it just greedy developers.

[capcaypro]

Another annoying one is the amount of forks the space has witnessed leading to new cryptocurrencies with exact usecase. Apparently it's beginning to look like everyone wants to be founder and CEO of their own projects.

I completely agree with this. I never approve that forks. And I don't think they want to be founder or CEO with their own project. They want to be rich and they want to it without working and creativity. They are not capable of create a new projects but they are using Bitcoin's or any other major coins name. Unfortunately, they are finding a supporters on the market.

Maybe not all are having the same condition as this. Forks are meant to be an upgrade, a renewal, development and also, a synthesis. It is the process on which blockchain and crypto could be enhance, not really a way to create a company and become a CEO, but too bad, people will do just for it.

was actually referring to the Hard forks which lead to a new blockchain architecture . We have had quite too many in crypto with a majority of the emerging projects dieing as soon as the developers cash out..

Because those developers don't even care about the liquidity and it looks like they are lack of economic knowledge about the liquidity is the very important thing. Those developers are only wanna cashing out their money without even care with it just greedy developers.

Does that mean the developer doesn't know anything about it? if they just want to monetize then it's not good in projects that only rely on it.

[okala]

You are 100% correct on this one we have hundred of coins and projects with similar usage and no clear line of differences. If this teams con partner with the already established coins in the market we will have a world of less coins with great potential and usability.