Blockchain Project’s Average Lifetime Less than Two Years
May 30, 2018
Over the last years the number of blockchain projects has been growing intensively: last year 871 ICO raised over $6 billion total which is completely incomparable to 29 ICO with $90 million in 2016. This year 777 ICO have already been finished but all of them are going to succeed.
Since blockchain was created in 2008 about 80,000 blockchain projects have been launched around the globe. However, the report by the China’s government revealed, only 8% of them are still supported to date. 92% of the failed lasted for about 1.2 years.
He Baohong from the Cloud Computing and Big Data Research Institute of CAICT comments on short lifetime of such projects:
“(These projects) came out very quickly, but die quickly as well. In this circumstance, governments globally are accelerating their efforts to establish unified standards in order to help blockchain projects to achieve real-life applications.”
China’s government has published a report recently to estimate quality of public blockchain projects. Note that Bitcoin was ranked 13th. No wonder that the rating gave birth to heated debates among crypto enthusiast after Verge, the currency that left Bitcoin out, was subject to 51% attack for the second time over 2 months.