Everyday, new technologies are discovered. Technologies that solve different problems. The same thing is happening in the cryptocurrency market. Everyday, new cryptocurrencies are being created.

Its quite explainable; Creating new cryptocurrencies is becoming easier and easier progressively.

Also, the expeditious rise in the value of Bitcoin and other coins has attracted more funds into the cryptocurrency market. This has taken the act of creating new cryptocurrencies off the roof.

With different people creating a new one any time they wish, there are bound to be a lot of cryptocurrencies and all of them can't be successful. Some are dead, some lost support, some have been delisted from exchanges and even coinmarketcap.com.



THAT IS A PROBLEM

THE PROBLEM

There are many more cryptocurrencies than we realise. Research has shown that there over 4500 cryptocurrencies in circulation and there are bound to be many that are functionally dead.

In this 4500, only about 1400 are traded on exchanges and listed on Coinmarketcap.com because they have sufficient volume; Over 2000 cant be traded or sold; over 1000 have been abandoned or lost support.

Shocking numbers, right?

Looking at the stats above, those numbers represent a lot of lost or trapped value. The users of these affected coins have thier money locked in a network that doesn't allow them to transact, or an asset that is not transferrable or sellable, or a currency that is not tradeable.

On the other hand, cryptocurrencies suffer as well. Resources(both time and money) have been diluted into these coins and the market having reputational issues due to the sheer number or unusable coins.

Without the counterbalance of a threshold of utility, resources will be lost and the market will be weakened over time.

Many of these cryptocurrencies have legitimate goals and poses to solve real time problems. The creators and their supporters believe their projects can deliver , yet, most fail along the line. Only a few of all the cryptocurrencies in circulation are delivering true value to thier users. Their users have invested funds, development, time, marketing or other resources into this project, which is now spent, lost or trapped.

Additionally, markets lose these key resources that can invested into leading cryptocurrencies that can achieve their goals and deliver increased value to their users.

Keeping these problems in mind, the challenge is to restore value to the users to those failed or dead coins and recycle as much trapped value from other assets back into the community at large, thereby strengthening the leading cryptocurrencies and the market at large.

This is where CoinJanitor comes into place.

INTRODUCING COINJANITOR.IO

Coinjanitor is a community funded project that wants to restore lost or trapped value to the crypto economy. It will provide holders, community members and creators of failed coins a way to join a project that has the network effect that the project they created failed to achieve.

As a community, crypto users and enthusiasts need to look for a way to help these failed coins and projects so as to recycle value from these coins back into the cryptocurrency economy.

And Coinjanitor is the first service offering to do so, and one of the first to open a public discussion about what to do with these failed projects.

The CoinJanitor Solution

The solution is to unlock(if they are trapped) or recover (if they are lost) the value that users of failed or dead coins invested into those networks, while at the same time, Eliminating those coins that trapped the value in the first place. The only challenge is doing 👈 in a user-friendly manner. Through the creation of a token, the Coinjanitor projects aims to provide an exchangeable asset for these unfortunate users.By receiving CoinJanitor[JAN] tokens, users can trade their locked value into bitcoin and other leading cryptocurrencies.



How The Solution Will Be Implemented:



CoinJanitor will unlock value that is trapped in these failed coins by a well planned 4-step process:

1.

Coinjanitor has set up a criteria for categorising coins as failed or dead. This criteria will be used to profile coins considered as failed or dead(using Coinjanitor's definition). Coins that meet their criteria will be profiled and the best candidate will be selected using more complex methods.

2.

After the best candidate has been selected, the coin's creator and its wider community will be contacted by CoinJanitor and a buy-out program will be set up. The buy-out will have a deadline.

Through a collaborative approach, the creators will be asked to turn over access to Github, and other repositories all marketing assets to the Coinjanitor team.

Then, dead coin holders will then swap their coins for JAN tokens to avoid pump and dump schemes from taking advantage of the buy out.

3.

After the buy-out must have been concluded, the acquired dead coins will be burned by CoinJanitor and the underlying blockchain will be disabled. Since the team has been given access to mining equipments, this wouldn't be a problem.

4.

CoinJanitor will compile a comprehensive registry of all the dead coins that it has traded and burnt and upload it into an open source "blockchain library". This library will be a point of reference for new coin developers, researchers, market analysts or anyone else who requires this type of information.

This shows just how committed the team is towards recycling value into the cryptocurrency economy.

WHO CAN BENEFIT FROM COINJANITOR

⛔ Users and Holders of JAN tokens

The business model of Coinjanitor can help holders or communities or creators of some failed projects get value back from their coins. Since they will be given a new set of tokens, they can once again be benefactors of the ever-growing cryptocurrency economy.

They also have the chance to reap the benefits of the CoinJanitor economy which will grow everytime it intergrates another community.

Each project that is absorbed extends the marketing reach of Coinjanitor and capability to influence further projects.They will also be holding a scarce commodity - the first of its kind, the only place of refuge for dead coin communities.

The Coinjanitor reserve becomes scarcer and scarcer while the demand increases simultaneously as more failed projects seek a buy-out. You know what that insinuates ;-)

⛔ CoinJanitor

The creation of an economy that wouldn't exist otherwise. An economy that will keep growing with every failed coin that is revived and with every community that is endorsed under the CoinJanitor Umbrella.

⛔ The Cryptocurrency Market

The Cryptocurrency market will be the major benefactor in the CoinJanitor project. It will be cleaned up and streamlined. Thereby increasing its reputation and strengthening its reach. CoinJanitor will reduce the diluted resources and transfer value that will be otherwise lost into bitcoin and other top cryptocurrencies.

You can also watch this Youtube Video, where the CEO explains more benefits of the CoinJanitor project.

TEAM

The team poses of a group of experienced people. That has the interest of the cryptocurrency economy at heart and wants to help it flourish using CoinJanitor.



DEVELOPMENT ROADMAP

The birth of the project dates back to 2017. When this exceptional initiative was thought about and started gradual development.

Yet, the project is far from complete. There are still stages the projects needs to go through to achieve its milestone. Below is a breakdown of the development roadmap:



TOKEN SPECIFICATIONS

Token Supply: 100. 000.000

Divisibility: 8 decimals.

Ticker: JAN

Hard cap: $7,500,000

ICO: LIVE - MAY 31st



HOW THE CRYPTO COMMUNITY CAN SUPPORT

Because this venture will affect the whole crypto industry in various ways, the platform wants to hear from the community. CoinJanitor took the first step and came up with a definition of its own for dead coins, but the team understands the need for a wider discussion about this topic. There are more ways to help with these dead coins, so the opinions of cryptocurrency enthusiasts are needed and valuable because they will allow CoinJanitor to understand how the projects can improve.

One of the ways that CoinJanitor is actively engaging the community is by encouraging cryptocurrency enthusiasts to be more aware of the platform, how it works and what its objectives are on different social networks . CoinJanitor is doing this through social media and of course, by encouraging people to join its community and ask team members all the questions about the project and drop useful suggestions as well. Anyone interested can follow the platform on Telegram, Twitter, and Facebook. The more reach, awareness and growth achieved, the more CoinJanitor can help not only failed coins holders, but also the crypto economy at large.

You can get more information on the website here; Whitepaper here

Follow them on facebook here, Twitter.

You can also join them on Telegram for questions.

Join the janitor today and help restore value to the crypto economy.

Do you think CoinJanitor is a viable addition to the crypto sphere and want to join Coinjanitor's community-driven initiative?

Let us know in the comment section!!

THANKS FOR DROPPING BY.