Altcoin News: 640 Crypto Projects Did Not Write a Single Line of Code

September 25, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The crypto industry is a place full of lies and empty promises. As many as 640 crypto startups did not develop their project in 2019.

GitHub and development activities are one of the indicators of a healthy crypto project. Some repositories are highly active, especially in important projects such as Ethereum, Lisk, Bitcoin, Insolar, Cardano and EOS.

But up to 32% of all cryptocurrency projects did not publish a single line of code in 2019. Based on a survey of 2,000 start-ups, through CoinCodeCap, 640 projects were completely inactive. It is shocking that the inactive projects have a market capitalization of $415 million.

Crypto landscape is full of lies and empty promises. To make this ecosystem better we need to weed out projects which are not fulfilling their promises made to investors, CoinCodeCap comments on their report.

Investors are confronted with such inactive assets on various exchanges. As many as 282 out of 640 cryptocurrencies or tokens are listed on Exchanges. But these exchanges prioritize their own interest and do not conduct a careful examination.

Because most of these exchanges are unable to generate enough revenue from trading, they charge high fees for listing such projects. Yobit and CoinExchange are leading the list of these inactive assets.

Author: Marko Vidrih