Singapore, Singapore, 17th February, 2021, // ChainWire //
99Bitcoins, an academic web site that maintains a listing of Bitcoin obituaries made by the media, has taken over the Dead Coins challenge as nicely. This transfer successfully crowns 99Bitcoins as “The undertaker of the cryptoverse”.
Deadcoins.com was established in late 2017 to doc the demise of hundreds of altcoins that popped up throughout the cryptocurrency mania of that point. The concept was easy – create a listing of cash which have ceased to exist after the hype died down.
A coin can grow to be “dead” resulting from quite a lot of causes equivalent to its growth being halted, having nobody that makes use of or trades it, being uncovered as a rip-off and extra. While the challenge was initially maintained solely by its founders, it was later outsourced to the cryptocurrency group which was allowed so as to add their very own useless cash.
“I think the dead coins project is a brilliant idea that needs a bit of polishing” says Ofir Beigel, proprietor and founding father of 99Bitcoins. “The undeniable fact that anybody can add a useless coin themselves made the record of cash very inaccurate. We’ve spent days going by means of the whole record and sifted out all the cash that have been buried alive, so to talk. For instance, Bitcoin, Tron, Dogecoin and Tether are simply a number of the cash that have been listed after we took over the challenge.״
“I think the community sometimes mistakes a shitcoin for a dead coin.” Ofir provides “We’ve put clear death indicators in place so it would be easy for us to decide whether a coin is actually dead or not. This way we still use the community’s input, but we make sure it goes through another filter to verify the submission’s accuracy”.
In the longer term, the challenge is deliberate to routinely add cash to the record by means of using APIs to index websites equivalent to CoinGecko and CoinMarketCap. With the most recent rise within the cryptocurrency market, it appears solely logical that quite a lot of new submissions are coming its means as soon as the hype dies down.
- Zsofia Elek
- 99 Coins LTD