90% Altcoins have 80% of the code copied from other projects


#1

Having familiarized with the results of the research of the Chinese University of Xian Jiaotong (a technology research center in Shaanxi province in the north-west of China), conducted in conjunction with experts from Netta Lab, skepticism of cryptocritics becomes clear.

It turns out that 90% of all existing altcoins are plagiarism. Naturally, the study could not cover all alternative projects, of which only Coinmarketcap 1935 pieces. But 488 analyzed algorithms are also not small. 25% is a normal sample.

So, in nine out of ten projects the code is stolen. Not completely, but almost - 80%. So in fact all the altcoins are the forks of twenty open source platforms.

In 83% of altcoins, the identity of the code is at the level of 90-100%, in 66% of the platforms this indicator is at the level of 95-100%. Only 8% of altcoins have an identity less than 80%.

The founder of Netta Lab Xie Shaoyun is not surprised by the results of this study. The vast majority of altcones invest in marketing, not in developing unique products, she said. This situation leads to the appearance of clones.

“Now the industry lacks technology that can make the next breakthrough,” Xie says. - We need to return to the bottom and finally solve the practical problems of the blockchain system, create tools that make using such services easy and convenient. Such solutions will lead to the development of the industry ".


#2

They were created just to make money and scam people. That’s why no new codes were written by those ICOs because they were never going to do any developments in their projects. In next few months/years, more and more of scam projects will be uncovered and many of the old coins will die.