The Problem with Crypto Zombies: Why Dead Blockchains Are Still Alive
Headline: Crypto Zombies: The Undead Blockchains That Refuse to Die
In the fast-paced world of cryptocurrency, where startups often rise and fall at a rapid pace, there is a curious phenomenon at play – the crypto zombies. These are the undead blockchains that refuse to die, despite showing little signs of life.
A recent Forbes feature shed light on this issue, compiling a list of 20 “crypto zombies” that had all but flatlined in terms of revenue and developer activity. Yet, these projects continue to limp along, propped up by the billions of dollars they raised through token sales.
The problem with these crypto zombies is not just that they give the industry a bad name, but also that they divert resources and attention away from more promising ventures. While other industries embrace the concept of creative destruction, where failing projects are allowed to die off, the crypto world seems to operate by a different set of rules.
One senior PR person even admitted to turning away crypto clients, tired of helping failed projects pretend to be successful. This raises the question of whether anything can be done to address the issue of crypto zombies.
One suggestion is for respected players in the industry to follow Forbes’ example and publish lists of truly dead blockchains, in order to separate the wheat from the chaff. By shining a light on these undead projects, perhaps the crypto industry can start to move towards a more sustainable and transparent future.
In a world where hype and false hope can keep a failing project afloat, it’s time to take a hard look at the crypto zombies and decide whether they should be allowed to continue haunting the industry.
