Scientists from the Xi’an Jiaotong University, which is located in the Chinese Shaanxi Province, together with Netta Lab conducted a study, according to which it turned out that the code underlying 80% of altcoins is plagiarized by at least 90%.
Scientists analyzed 488 algorithms, and this is a fairly representative sample. Happened so that in four out of five projects the code was 80% stolen. After a pairwise comparison of the cryptocurrencies codes, it was found that in 405 of them (83%) the codes converge by 90-100%.
Earlier, Invest in Blockchain conducted its study of altcoins. Researchers analyzed the state of each product, reviewed their road maps, checked the release history and compared the already added functions with those that the developers promise to add in the future. In the end, they came to disappointing conclusions. It turned out that 60% of the top-100 by market capitalization projects do not have a working product.
WHY IS IT IMPORTANT?
- The study showed that 83% of altcoins have a code identity at 90-100%, in 66% of the platforms this indicator is 95-100%. Only 8% of altcoins have an identity less than 80%.
- The founder of Netta Lab, Xie Shaoyun, commenting on the results of the study, noted that the creators of altcoins are more invested in marketing than in developing their cryptocurrencies. She also expressed concern about the lack of technological innovation in the blockchain sector.