Over 80% of Digital Asset Projects are Copy-Pasted, Research Shows
Cryptovest
Published Sep 13, 2018 08:27AM ET
Updated Sep 13, 2018 09:40AM ET
Over 80% of Digital Asset Projects are Copy-Pasted, Research Shows
The initial coin offering (ICO) market is growing at a neck-breaking speed with over 1,200 ICOs launched and over $18 billion raised since the beginning of 2018. Established businesses and startups rush to squeeze into this overcrowded bandwagon until it's too late. However, more than a half of all ICOs initiated in Q1, and Q2 failed to reach their soft cap or raised less than $100,000, according to a recent research by finance company GreySpark Partners
The majority of those that hit their fundraising target will die out quietly soon, abandoned either by their founders or disillusioned supporters.
While unsuccessful projects fail in their own ways, most of them are dead from the start as they do not have a sound and genuinely original idea. A research, conducted by Chinese company Netta Lab together with experts from Xi’an Jiaotong University in northwest China’s Shaanxi Province, shows that more than 80% of the altcoins have plagiarised their code from other ...
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