It may seem strange, but it appears that 60 of the 100 cryptocurrencies with the largest market capitalization still have not released a working version of the product - despite millions of dollars raised from investors.
Employees of the cryptocurrency analytical firm Invest in Blockchain came to this conclusion after studying the activities of the developers of the hundred best cryptocurrencies. Among other things, the researchers took into account the current status of each project, their roadmap, as well as the features that are already available to users at the moment.
Analysts have defined a “working product” as one that is already available to the public and used on a daily basis. The authors of the study note that the developers of many of the top hundred cryptocurrencies have already announced the release of a working version of the product, however, according to the definition of Invest in Blockchain analysts, a decentralized application without real use cases or an active user base is not a working product.
Along with dApps, the authors of the article looked at other options for using blockchain technology, such as payment protocols and smart contract platforms.
Naturally, currencies like Bitcoin, Ethereum, Ripple (XRP), Stellar, Litecoin, and Bitcoin Cash have already released products that are widely used in everyday life. An interesting fact is that most of the 40 cryptocurrencies with ready-made working products have developed either a payment system (Bitcoin, Litecoin) or a smart contract platform (Ethereum). It is worth noting that analysts also point to projects that do not fall into either of these two categories. One example is the decentralized prediction market Augur.
As mentioned, the analysis article indicates that 40 of the top 100 cryptocurrencies have already released a working version of the product. The problem lies in the remaining 60 startups, which are not able to demonstrate satisfactory results to their investors.
As a recent study showed, fraudulent ICO, the developers of which disappeared immediately after the first rounds of financing, attracted more than $100 million. The researchers highlighted the fact that what is currently much more difficult to recognize is not fraudulent coin offerings, but funded startups that continue to develop, but do not show any results...
It is possible that many of these 60 businesses are still developing an active user base and were excluded from Invest in Blockchain's list simply because they do not fit the definition of a “working product” that was provided by analysts. We hope that in the future this list will be replenished with more projects with ready-made viable products.
According to https://thenextweb.com
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