Bitcoin was the only one for something like six years and then Ethereum showed up. This opened us to 2000+ cryptos.
While the rate of new coins has slowed down over the past year. This quite is because of the sluggish bearish markets. As well as increasing regulatory policies, formalities and pressure. So many startups are still trying to come up with new and strange solutions to solve one problem or another using some form of cryptocurrency or token.
No adoption would leave us with a crypto wasteland full of coins and tokens that no longer mean anything. Some cryptocurrencies are great at high-value low-frequency transactions, some are trying to replace currencies for everyday use by targeting the exact opposite with a focus on minimizing fees and increasing transaction speed, while others focus on privacy and anonymity of transacting, and finally there are the other platforms that are opening up a whole new world for developers to build distributed applications. Each currency is trying to bring something new to the table. And they are all adding to the literature on blockchain and crypto with their interesting stories, promises, and mechanics.
There is no way to navigate between the big plethora of similar and identical diverse projects all doing something or the other through manipulating blockchain tech for their own flag.
We live in a world where it is easy to forget and hard to survive. The battles are brutal, the atmosphere is fatal and the war among each other is fierce. There are more than a thousand ways for a coin to die. There is already a website dedicated to putting together a directory of dead coins.
The website lists all the dead coins submitted, along with the reasons for their death and their link or the nature of the product. The crypto world is full of ICO’s that have been nothing more than ponzi schemes, ICO’s that have been nothing but scams, ICO’s that have disappeared into thin air.
A lot of coins are abandoned, this means suddenly they are removed from Discord, the white paper vanishes, websites are taken down and the development is cauterized. This is either due to a lack of faith of the developers in their ideas, the lack of funds or the whimsy future of the industry where people think at every step of the way if this is a secure career or would it just shut down giving them a shit load of lemons to deal with.
Time would tell perhaps.