Over 2000 Projects Reviewed – 640 have not published a single Code in 2019

[Ucy]

Apologies for the long thread title. Btw, I recently came across a report by CoinCodeCap and I found it fascinating and want to share with others o'er here.

Here are the key findings :
Main findings –

More than 640 cryptocurrencies did not publish any code in 2019.
Yobit is top exchange for these coins, list 62 such coins.

The combined market cap of these cryptocurrencies is more than $415 million. (415,341,340)

Proton Token with the highest market cap (84,989,086) has not published any code since 2018. (This data is from Nomics APIs)

What's more interesting is that, Majority of these projects were launched in 2017 with a truck load of promises. Today, The story is different.


What's your thoughts on this? Feel free to share.


For further Reading : https://blog.coincodecap.com/analyzing-cryptocurrencies-github-activity/

They probably should be called abandon projects. I guess it's wrong that the coins are  traded on exchanges despite not publishing their codes for a long time. Many Cryptocurrency exchanges clearly do not have strong standards for coins they list. This is one of the reasons many substandard projects have refused to vanish.

[Coyster]

Many Cryptocurrency exchanges clearly do not have strong standards for coins they list. This is one of the reasons many substandard projects have refused to vanish.

I also believe exchanges can be held responsible for listing and putting into circulation shitcoins for people to purchase, most of this shit projects would not have been listed, if there were no likewise shit exchanges. We all know it costs more to list on a quality exchange, and this projects would not spend that amount on their shit coin.

If every exchange can be of good standard, then shit coins would disappear fast as they would not be able to list their coins.Yobit needs to work on their standards, or else good coins would never want to be affiliated with them.

[lobat999]

They probably should be called abandon projects. I guess it's wrong that the coins are  traded on exchanges despite not publishing their codes for a long time. Many Cryptocurrency exchanges clearly do not have strong standards for coins they list. This is one of the reasons many substandard projects have refused to vanish.

Yes, there are plenty of coins that still don't have a single piece of code yet it is already being traded on exchanges! I think this are highly irregular and totally irresponsible on the part of exchanges on why they don't act on their part!

I am also hoping that exchanges will be implementing certain terms and conditions before a project is listed on their platform such as obliging a project to produce at least an MVP given a certain period of time, have a continuous development, and subject this projects to a delisting if certain conditions were violated or not complied with. If only exchanges could implement this kind of requirements, then we can say that they are protecting their integrity together their own end users in general and in the end, will most certainly not be labeled as a "shitcoin exchange!"

[nelson4lov]

Problems like this should be eliminated, because this will involve many problems and losses for investors and prize hunters, from the many projects but only a few coins that publish the code so this is not very good for the cryptocurrency world, hopefully this problem can be resolved so as not to some are harmed.

Bear in mind that It isn't a "Problem" to be solved. Rather It is left for those supposed startups to start working and pushing their codes to code hosting platforms like Github.  Majority of Crypto startups that raised money during the ICO boom fall into this category. This goes to show their little to no progress in months. How can this be solved? Simple, Make – Doing Your due diligence – on top of your priority lost before investing in any projects.

[landoffaucets]

That is terrible statistic. I do not understand, when you raise millions of dollars you have problem to pay programmers to code atleast something? 

[nelson4lov]

That is terrible statistic. I do not understand, when you raise millions of dollars you have problem to pay programmers to code atleast something? 

It seems to be the case. Don't forget most of these startups have bad financial management. Immediately after raising millions, They abandoned their community channels, go dark.... Doing what? You may wonder. All they do is to move to bigger houses, get better cars. That's all. Because If the developers have been paid and the income is still flowing, They don't have any reason not to push codes.


Ome more thing, As you're already aware most projects are vaporwares and can't deliver on their promises.

[sabine80]

That is terrible statistic. I do not understand, when you raise millions of dollars you have problem to pay programmers to code atleast something? 

It seems to be the case. Don't forget most of these startups have bad financial management. Immediately after raising millions, They abandoned their community channels, go dark.... Doing what? You may wonder. All they do is to move to bigger houses, get better cars. That's all. Because If the developers have been paid and the income is still flowing, They don't have any reason not to push codes.


Ome more thing, As you're already aware most projects are vaporwares and can't deliver on their promises.

that is unfortunately all true. many projects promised a lot and got away with the collected money. i also believed in many projects and was almost always disappointed. the statistic is really terrible, but hardly surprising.

[Sancho18]

Apologies for the long thread title. Btw, I recently came across a report by CoinCodeCap and I found it fascinating and want to share with others o'er here.

Here are the key findings :
Main findings –

More than 640 cryptocurrencies did not publish any code in 2019.
Yobit is top exchange for these coins, list 62 such coins.

The combined market cap of these cryptocurrencies is more than $415 million. (415,341,340)

Proton Token with the highest market cap (84,989,086) has not published any code since 2018. (This data is from Nomics APIs)

What's more interesting is that, Majority of these projects were launched in 2017 with a truck load of promises. Today, The story is different.


What's your thoughts on this? Feel free to share.


For further Reading : https://blog.coincodecap.com/analyzing-cryptocurrencies-github-activity/

Among other things, this excellent site has a scam section, and I would strongly advise everyone investing in altcoins to study it. For example, there is a very hype project EGT with market cap over $370 Million, and yes - it's pure scam.

[Cheesus]

The crypto industry is filled with lots of fascinating ideas, not by real products. This year many good projects came, we supported them, more will come. But after two years, the scenario will be changed. Most of the projects are dead or scam which came in the previous year. That's why altcoins are failing to impress us. All the project has big ambitions, but later they become scammer or dead projects. 640 projects did not publish any code, but in other 1360 projects, you will see almost 500 projects published not helpful codes for the project!

[Cheesus]

Apologies for the long thread title. Btw, I recently came across a report by CoinCodeCap and I found it fascinating and want to share with others o'er here.

Here are the key findings :
Main findings –

More than 640 cryptocurrencies did not publish any code in 2019.
Yobit is top exchange for these coins, list 62 such coins.

The combined market cap of these cryptocurrencies is more than $415 million. (415,341,340)

Proton Token with the highest market cap (84,989,086) has not published any code since 2018. (This data is from Nomics APIs)

What's more interesting is that, Majority of these projects were launched in 2017 with a truck load of promises. Today, The story is different.


What's your thoughts on this? Feel free to share.


For further Reading : https://blog.coincodecap.com/analyzing-cryptocurrencies-github-activity/

Among other things, this excellent site has a scam section, and I would strongly advise everyone investing in altcoins to study it. For example, there is a very hype project EGT with a market cap over $370 Million, and yes - it's pure scam.

Egretia was an average project from its beginning. I was shocked by seeing the sudden massive hype when EGT entered in the top 50 currency. But I would not say they are totally scamming. Because Egretia telegram, twitter, medium all social profile updating its community, just checked their twitter handle, they are making partners. Though it can be eye wash. I was an EGT holder before the hype.

[TastyChillySauce00]

The majority of coins that are live on coinmarketcap would disappear in 5 years, because they are suffering from lack of money, strategy and competent management. Besides, 70 percent of coins are not backed by a working product.

Lack of money is an old reason to leave from all of the responsibility of developers to the investors. This already happened since the ico trend has begun in the past.
Remember about the latest audit from some trusted parties and more than 80% of ICOs are scam icos or these icos have no competences to create products.
These scam icos have been selling the idea only even that's a nonsense idea.

[nelson4lov]

The majority of coins that are live on coinmarketcap would disappear in 5 years, because they are suffering from lack of money, strategy and competent management. Besides, 70 percent of coins are not backed by a working product.

Lack of money is an old reason to leave from all of the responsibility of developers to the investors. This already happened since the ico trend has begun in the past.
Remember about the latest audit from some trusted parties and more than 80% of ICOs are scam icos or these icos have no competences to create products.
These scam icos have been selling the idea only even that's a nonsense idea.

.

Lack of funds is actually a problem (Funds mismanagement is the root) . Not all those ICOs peaking in 2017 exit-scammed. Most just didn't manage their funds right. They got caught up in the whole ico-frenzy and used up funds raised to the extent that there's no money to psy the actual platform developers (I'm an aspiring developer so I know this and if developers aren't paid, they leave) and then everything falls apart. This is a major reason why most startups failed - Crypto funded (ICO) or traditional businesses/startups.  

And I think IEO startups are beginning to follow same part and It's not helping because there are legit/serious projects that can bring new stuffs to the table but no way to raise funds as the ico bubble has bursted and IEO trend seems to be coming to an end.

[Kemarit]

Lack of funds is actually a problem (Funds mismanagement is the root) . Not all those ICOs peaking in 2017 exit-scammed. Most just didn't manage their funds right. They got caught up in the whole ico-frenzy and used up funds raised to the extent that there's no money to psy the actual platform developers (I'm an aspiring developer so I know this and if developers aren't paid, they leave) and then everything falls apart. This is a major reason why most startups failed - Crypto funded (ICO) or traditional businesses/startups.  

True, and before they know it, funds are dwindling that's why are early as May 2018 there are reports that projects themselves has to dump their ETH in order for the project to survived. And this is one of the reasons why ETH suddenly went on a downward spiral. I guess, no one really anticipated the long bearish trend. But we can't blame them, there was no ICO prior and most of them born during the last bullish run so no one really knows how to react or at least long at the long term.

And I think IEO startups are beginning to follow same part and It's not helping because there are legit/serious projects that can bring new stuffs to the table but no way to raise funds as the ico bubble has bursted and IEO trend seems to be coming to an end.

It's going to be cyclical I guess, if those IEO projects are not careful with their funds then they will suffer the same fate as their predecessors.

[Immakillya]

It's because most of them are just scams. Even they give codes. Some of them just copy-pasted some codes just to say they have made their own codes. It's funny how people invested in some projects without seeing their working products. They just investing based on hype circling around the internet. In the end, they are suffering because  they scammed by them. No wonder why governments are trying to shut down cryptocurrency. Do proper research first before investing.

[fuer44]

Apologies for the long thread title. Btw, I recently came across a report by CoinCodeCap and I found it fascinating and want to share with others o'er here.

Here are the key findings :
Main findings –

More than 640 cryptocurrencies did not publish any code in 2019.
Yobit is top exchange for these coins, list 62 such coins.

The combined market cap of these cryptocurrencies is more than $415 million. (415,341,340)

Proton Token with the highest market cap (84,989,086) has not published any code since 2018. (This data is from Nomics APIs)

What's more interesting is that, Majority of these projects were launched in 2017 with a truck load of promises. Today, The story is different.


What's your thoughts on this? Feel free to share.


For further Reading : https://blog.coincodecap.com/analyzing-cryptocurrencies-github-activity/

I also reached this information today. No code means these projects are dead? Or Project team just waiting a bull market for adding new codes?

It is not easy to answer, but it is easy to say that both situations are sux.

You believe a project, a project team = group of people, and you invest on them. As a result you get nothing. They may disappear, may wait the bull market which can come 1 years later. Or 2 years?

It is why IEOs are a good for community. I am not talking about the prices of the coins. Talking about the project development. Exchanges are following these IEO project closely to make sure that they chose the right projects for their exchanges.

We can complain about the prices of the IEOs last 1.5 month, but we can not complain about the project teams of IEO projects.

yes, there is no code meaning the project is dead, and that is the reality. the truth is when the project has been running for more than 1 year and the team only says "soon" for the listing process, it is just their alibi because actually they don't have a definite date when the coins will be listed.

[boltz]

You're perfect right! Most of the projects from 2019 have barely published a single Code line until now and yet they want more money for further development. I also post some hours ago 2 cases of 2 projects , 1 who pulled recently an exit scam and the other one left the project into community hands and those are just 2 examples from the hundreds you can find online. I hope most of you know that are hundreds of projects who are not listed on coinmarketcap and yet they gathered money from investors without any reasons to give anything back.

The lack of development is a bad thing but not fatal as long as there is someone still working on it and a CEO who is responsible for the project but when there is no one left on it anymore , the project will sink very fast leaving the investors with coins that have no value and nowhere to be traded. That articles sums up the perfect situation of the most project who had ICO's after the bull run ...dead projects who are now abandoned.

[Kotone]

There are many projects like these especially new one. Not every one is familiar with github, an open source code for their notes. Actually it is quite easy to use, if all crypto enthusiast knows how to use it then many projects can be easily flagged as scam and could be a basis of their progress. You could actually compared which is the one really working on the project and the one who is only focus on trading.

[Kyraishi]

I think people are taking this a bit differently, just because the project hasn't published new code, doesn't mean it has been stopped or become a scam project, there are a couple of projects that have been focusing on marketing and more mainstream adoption, and they wouldn't need new code for that stuff.

Although, to be fair, there where a lot of ICOs from 2017 and 2018 that have become failures in the last years due to the market, and sometimes themselves, and it's quite sad to see.

[zeze18]

That is terrible statistic. I do not understand, when you raise millions of dollars you have problem to pay programmers to code atleast something?  

Sometimes the project creator are not concerned about the coding things, or even don't know about the coding thing.
they just want to list their coins into exchange then dump it by theirself, those are many project fail scenarios

[enhu]

I think people are taking this a bit differently, just because the project hasn't published new code, doesn't mean it has been stopped or become a scam project, there are a couple of projects that have been focusing on marketing and more mainstream adoption, and they wouldn't need new code for that stuff.

Although, to be fair, there where a lot of ICOs from 2017 and 2018 that have become failures in the last years due to the market, and sometimes themselves, and it's quite sad to see.

Its been opposed by many of the people because it doesn't stand the way how decentralization should be. When Satoshi open his code and make it opensource for the public to see, its also open the possibilities of more projects which we are now into this cryptospace. The projects using blockchain has the obligation to give back to the community what was given to them for free for being opensource. What stop those projects from abusing if they aren't revealing the source code they have? When it comes to money (cryptocurrency) greed will come and its not surprising these closed github projects will become scam on day.