At the time of this writing, CoinMarketCap listed 2,164 “active” cryptocurrencies. However, many crypto enthusiasts, early adopters and players who follow daily developments and forum postings on Reddit, Bitcoin Talk and even deep in the deep web, know that this number does not account for all the projects that have already been released and that are even “abandoned” without updates but still keep their active supporters. The Dead Coin portal alone lists a multitude of projects that are dead or wandering while awaiting their final end.
However, many of these abandoned crypto projects have been revived by their community members. Aiming at this process, Merge was born, with a selection of 100 projects framed in this perspective, offering the communities a swap, in which the owners and “restorers” of these projects could exchange their crypto “zombies” for the newly created coin named Merge (ticker: MERGE).
The process was divided into three phases, the last one ending at the end of March. 10,115 swaps were processed over 2,237 wallet addresses, distributing a total of 2,675,647 MERGE. After the conversion, the tokens of the abandoned projects were burned, totalling 14,971,539,465 of crypto assets that earned a “grave” for their data.
However, as one of the enthusiasts of the project revealed to CriptoFácil during the VII Bitconf, Merge’s goal is not only to be the “graveyard” of the cryptocurrencies but to create a kind of crypto anthropophagy. By promoting the burning of abandoned projects, Merge attracted a huge range of talents that were tied to these communities and, with that, also their ideas and developments for the use cases of the crypto / blockchain industry.
Without offering too many details, the team has revealed that they have been working on many new projects, one of which is to add interoperability between distinct DLTs such as Tangle (IOTA) and blockchain (Bitcoin) through a protocol capable of connecting different blockchains. The implementation white paper is under review and should be published soon, the team said.
(Translated from Criptofácil’s article: https://www.criptofacil.com/no-maior-swap-da-historia-criptomoeda-merge-compra-criptoativos-abandonados/)