The meme coin boom has made some Web3 bros incredibly rich. But a new study published on Cornell University’s arXiv suggests the ecosystem is better understood as a place of extreme churn, flimsy infrastructure, and a surprising number of scammy projects that disappear quickly.

Researchers Alberto Maria Mongardini at the Technical University of Denmark and Alessandro Mei at the Sapienza University of Rome built MemeChain, an open-source, cross-chain dataset of 34,988 meme coins across Ethereum, BNB Smart Chain (BSC), Solana, and Base. The system combines........

© Fast Company