Day by day new digital currencies are launching in a rapid rate and as a result of that now we have more than 1600 Altcoin's in the world but my concern is will increasing number of new Altcoin's can help for the betterment of crypto world ? or don't you think rather than introducing new once we need to make existing once more usable and reliable by giving them more expansion through business adaptation ?
The challenge with what you are suggesting is that every project has their own team and most of them are scattered all around the globe.
So projects with similar concept co-exist in the cryptocommunity. Most of them are not authentic and legit. Obviously, a lot of them are after for the money.
However, competition in the market is healthy as users can really choose the best and suitable one for them.
On the other hand, you can find projects that are really sincere with innovative technologies to offer. But, they couldn't find audience because their marketing is poor.
Sometimes, marketing is a big factor in exhausting its potential. That's when scammers come in. Scammers know how to manipulate their potential victims. Offering grandiose ROI, passive income and more. But in reality, they will be long gone once they dump their coins.
People should learn to evaluate projects that are heading to such failure. Else, they will be a losing their hard-earned money.