Should you limit the number of cryptocurrencies?
Illustration by Ja.

Should you limit the number of cryptocurrencies?

By Jandmade | Jandmade | 11 Jul 2020

Currently there are more than 2,500 different cryptocurrencies and in operation, and even the number is much higher if we add all those coins that disappeared along the way since Bitcoin was created.


This high number of different crypto can, in a way, be useful in achieving the much desired decentralization. Something logical from the point of view in which the more variety, more distribution of responsibility, power, value ... etc.


But that there is full freedom to create new tokens or cryptocurrencies may perhaps turn out to be something negative, not only because of the scams and the loss of confidence that results from it. Perhaps the biggest drawback lies in utility and value. By this I mean a possible future scenario where an ordinary crypto user has to have multiple different tokens in order to carry out actions that were previously done with a single currency (crypto or Fiat).

This would be in a way a delay in the acceptance and use of crypto where the result could be a massification of almost useless tokens in value, as valid and necessary as coupons redeemable to live.


For this reason, my opinion on the matter (like the rest that I have raised) is that perhaps a limit should be put but if a minimum regulation so that in the future what can be the solution does not become the new problem.


Maybe I am ignorant about the subject but with respect and sharing opinions or information that helps to understand things, I think we can all grow.

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I'm a professional illustrator. More than 30 year experience Based in Galicia


I am a professional illustrator with proven experience in different fields of plastic arts, creativity and design. Interested in art in the world of cryptocurrencyies.

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