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Why are there so many cryptocurrencies in blockchain (Why are people still playing with blockchain fundraising)?

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Why are there so many cryptocurrencies in blockchain? According to CCN, the rea

Why are there so many cryptocurrencies in blockchain (Why are people still playing with blockchain fundraising)?

Why are there so many cryptocurrencies in blockchain? According to CCN, the reason for the abundance of cryptocurrencies in blockchain is because blockchain is a decentralized database. Although its value is currently limited, it can be seen as an asset from a certain perspective.

So, now we know that there are many types of blockchain projects such as Bitcoin, Ethereum, etc. However, the developers and issuers of these projects do not fully understand what blockchain is. They just want to find an alternative way to achieve a more efficient, low-cost transaction model or a cheaper way to conduct business operations.

Why are people still playing with blockchain fundraising?

Coin circle refers to blockchain, but why are people still playing with blockchain fundraising?

First, let’s take a look at the current situation of the coin circle.

This year, various projects and companies have emerged. The most famous ones are top exchanges like OKEx and Huobi. Ethereum is also known as the “king of public chains,” and its token XRP once surpassed Ethereum to rank 6th in market value. Mainstream cryptocurrencies like Bitcoin are also constantly rising, which is supported by their intrinsic value and ecosystem development. But has this situation changed now?

For those who are enthusiastic about speculative concepts, the “cabbage premium” is discouraging. Most altcoins, apart from BTC and ETH, do not have practical applications such as DeFi. So why haven’t new projects emerged if the previous ICOs were conducted to discover new high-quality projects and drive market funds? It is because this industry lacks talent and does not have enough technical resources to attract more users. As a result, many ordinary investors do not understand the so-called innovative products. These startups are not even familiar with underlying technologies and cannot keep up with the wave of technological advancements. Many people ask whether “old investors are either looking to profit or not interested in making money, making them all scammers.”

In fact, the real money makers are investors because most people know that they earn money when they do things rather than losing money. Therefore, when others see a good product, they consider it a good selling point (especially in the early stages), and someone pays attention to it and tries out another good feature. This is a typical high-yield model: “buying things means getting something you like.” This is a normal behavior, just a kind of arbitrage to a certain extent. It is like giving all the money to you for distribution, just like that air, allowing everyone to exchange their money for other goods or services, but then finding that their capital is decreasing.

What’s interesting is that although the entire blockchain industry is still in its infancy, there are still many players participating in the crypto world. For example, in recent months, various influencers have been discussing the potential and future applications of becoming the next generation of internet giants. Some believe that blockchain technology can bring significant changes to humanity and is one of the important factors driving economic and social transformation.

In addition, some netizens have raised questions: why do people continue to chase hot trends? “I estimate that not many people will do so in the near future!”

There are also views pointing out that as time goes by, people may realize that the prospects of blockchain far exceed expectations. Of course, some people’s imagination will increase and be more widely applied to more fields. (Reference: “Outlook of the Global Emerging Industries from 2019 to 2019”)

In reality,

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