Episode Details

This story was originally published on HackerNoon at: https://hackernoon.com/educational-byte-why-are-there-so-many-cryptocurrencies.
One idea turned into thousands of coins. The reasons are simpler, messier, and more human than they look at first glance.
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This story was written by: @obyte. Learn more about this writer by checking @obyte's about page, and for more stories, please visit hackernoon.com.

There are about 32.85 million tokens in the wild. Not all of them are useful, not all are active, and not all have real users or liquidity. Not every cryptocurrency is going to survive, because it was just a joke, a scam, or because it wasn’t technically sound.