Most of the top 100 cryptocurrencies does not actually have a working product

Most of the top 100 cryptocurrencies does not actually have a working product

This may seem shocking, but, like, 60 of the top 100 cryptocurrencies and will not publish the work product, despite millions of investments.

Firm, specializing in the analysis of the cryptocurrency, called Invest in Blockchain, put a lot of effort to study hundreds of the best projects to finally come to such a disappointing conclusion. Among other things, the company took into account the current status, roadmap, history release and the already existing job functions.

The study identified the concept of “work product” as that which is available to the public and used daily. The authors note, unused dApp the app or platform without an active user base is not a work product.

Along with the dApps, the authors also considered other uses of the blockchain such as payment protocols and platform for smart contracts.

Of course, Bitcoin, Ethereum, Ripple, Stellar, Litecoin and Bitcoin Cash included in the list of work products as popular and widely used every day.

It is interesting to note that most of the 40 currencies with active products or payment systems (such as Bitcoin or Litecoin), or a platform for smart contracts (e.g., Ethereum).

Invest in the Blockchain points to the fact that there are a number of companies with working products that do not necessarily fall into one of these two categories. For example, a decentralized market forecasts Augur.

Important: the proportion of projects with work products that are allocated to Invest in the Blockchain, can still possess a number of vulnerabilities. Verge it was necessary to study changes in the network, after the cryptocurrency twice attacked 51%.

Decentralized platform Bancor was also a victim of hackers in July, losing in the result of $ 12.5 million in Ethereum. After the break it became clear that the platform is built bedorom, allowing the company to selectively “freeze” funds in its network.

However, consider these figures from another point of view. As already mentioned, the study shows that 40 of the top 100 cryptocurrencies by market capitalization have a working product. The problem is the 60 start-UPS who are invested, but in reality offer only dust. Many of these 60 continues to build its user base.

At the same time, the presence of a working product does not mean that he is perfect. Anyway, the reality is that cryptocurrencies continue to be the main working application for the technology of the blockchain.

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