Most of the Top Cryptocurrencies don’t have a working product
One of the latest research done by Invest in Blockchain stated that out of top 100 cryptocurrencies in the market cap, only 40 of them possess a product which is usable and working. To find the total companies, researchers have used a strong definition of the term, “working product.” To fulfill the criteria, the project needs to have a running mainnet which is currently open to the public for a particular amount of time.
Which top Cryptocurrencies have Working Product?
Out of the top 100 cryptocurrencies in the world, different types of coins have passed the working product criteria. There is no doubt that Bitcoin, Ethereum, Ripple, and Bitcoin Cash has passed the test. Moreover, researchers also included Tether in the research. Various crypto users also argue that it is uncertain to add a stable coin, as it is considered separate from various cryptocurrencies due to its inadequacy to invest in them. Eventually, the list of approved coins and tokens also consists of Binance Coin, KuCoin Shares, Bancor, Bibox Token. This could be reasoned unjust as the type of working products which exchanges coins provide is almost similar than that of the coins like IOTA.
Does this research make a point?
One of the people might completely ignore the research by just saying it as FUD (Fear, Uncertainty & Doubt). On the other hand, any research effort like this should not be unremarked, hence it is logical to question the importance of such results. Most of the persons who have invested in crypto know that how elementary and foundational the crypto world is. Presently, some of the most amazing projects are still not ready to release their product, however, this doesn’t conclude that they are not trying. Various top cryptocurrencies are still in the developing phase, hence it is not correct to say that overvalued project will have a lot of demand right now.
The results of the research are not proper, hence there is no reason for leaving the crypto market. Suppose the cryptocurrency has no product currently, but it is putting great efforts in launching its product, then investing in the particular product when they are in the elementary stage could gain great profits in the near future.
