Author: Jagdish Kumar, India
According to a study conducted by Invest in Blockchain has revealed that out of the top 100 cryptocurrencies currently trading only 36 have a full working products, a study conducted by Invest in Blockchain, a cryptocurrency analysis site revealed.
The study found that less than half of all cryptocurrencies actually serve any useful function or provide real value to the public, according to a study on top 100 cryptocurrencies.
In its study titled, Cryptocurrencies in the Top 100 With Working Products That Are In-Use, the authors said that the study evaluated each project’s status, looked at its roadmap, checked its release history, and compared completed features to what the team promises to deliver in the future.
The study also found that though many of the crypto companies have said that they have launched their mainnet and claimed to have a working product, but when it was studied properly, it was found that many mainnet launched does not even meet the criteria.
One common thing that was found in the study that all of the top 100 cryptocurrencies have been re built on top of a Blockchain, a type of online ledger that was first described in Bitcoin’s 2008 white paper.
However, merely building a project is not enough and the project needs to fulfill the criteria set up by the authors that make a project viable for a longer run.
Bitcoin, Ethereum, Ripple, Bitcoin Cash, Stellar, Litecoin, Tether, Monero, NEO and Binance Coin are in the top ten, while Qtum, Polymath, Pundi X, Golem along with other less well known coins like the privacy-focussed Zcash and ZenCash also featured on the list of cryptocurrencies with a working product.
The study comes at the time, when the crypto market has been very bearish and have touched a market capitalization of close to $200 billion, which was at a peak in January 2018 with $800 plus market capitalization.
Image credit: kryptomoney.com