Over 90% Blockchain Projects Don’t Live Longer Than a Year

post image

According to data collected by Deloitte, last year in the repository on GitHub there was created more than 26,000 new projects related to blockchain.

The new report "Evolution of Blockchain Technology: Insights from the GitHub Platform" was published on November 8. The company presented data from the platform app development, which holds codes for more than 86 000 blockchain initiatives, including such significant projects as Bitcoin. Overall, the study shows the technology development from Bitcoin since 2009.

Our top trading bots

What does Deloitte report represent?

The Deloitte report shows that 2016 became one of the busiest years for the number of new projects by the blockchain to date. Companies and individual users initiated them. There were created more than 26 000 projects. For comparison, less than 15 000 projects were founded in 2015. The data for 2017 includes only the first six months. However, GitHub has already hosted nearly 25,000 projects in this period.

The report also included data about the most popular code repositories on GitHub related blockchain. Among them, the Bitcoin code repository (unsurprisingly) demonstrates the highest activity: 627 exhibitors and nearly 12,000 subscribers. Go-ethereum (or Geth), a client-supported non-profit organization Ethereum Foundation, attracted 149 participants and 5 603 subscribers.

Inactive blockchain projects

Another critical point in the report - most blockchain projects existing today are dormant. Deloitte explains:

"The stark reality of open-source projects is that most are abandoned or do not achieve meaningful scale. Unfortunately, blockchain is not immune to this reality. Our analysis found that only 8 percent of projects are active, which we define as being updated at least once in the last six months."

The projects have a "positive differentiator" from projects created by users. Among the latter there was enabled only 7% of projects, whereas among organizations similar figures reach 15%.

The report also provides a geographical view on the development pace of the blockchain in different areas. So it is noted that most owners of the repositories on GitHub related blockchain, based in San Francisco – 1 279 users and 101 organizations. London ranked the second place with 919 projects, and then New York followed with 774.

"It is also worth noting the high level of activity in China, specifically, Shanghai and Beijing. In both of these cities, most of the projects pertain to cryptocurrencies and cryptocurrency exchanges, with an emphasis on scalability."

It was a remarkable year for the blockchain technology in financial services, especially for cross-border payments and trading areas. Broad use of the blockchain outside of the finance sector increases, especially in spheres as government, healthcare and the management of supplies.

The Deloitte report shows that 2016 became one of the busiest years for the number of new projects by the blockchain to date.

The blockchain technology could change the processes and systems industries. It has the power to exclude trusted third parties, reduce costs and ultimately increase profits of various players in the industry.

However, this is not a single universal solution. The use cases should meet the characteristics and requirements of technology, such as security, decentralization, and dependence on the Internet as the basis.

Can This Bitcoin Success Story Make You The Next Crypto Millionaire?
Every starting crypto trader needs some inspiration and potential knowledge, so here’s a story of a guy who went from being 0 in crypto to earning $50,000+...
Why Ether Price Shorts Break the Record
On October 11 an immense selloff started on the cyber-asset market. Within a few days, the market lost around $19 billion in value, reaching the CCN’s estimations,...
Forget The Ban: Google to Make an Exclusion for Crypto Ads in Japan, US
Half a year ago the technological titan Google shook the crypto-world up by announcing its ban on crypto-related ads. The same year other giants like Facebook,...
Will XRP Soon Start Growing? New Ripple’s Offers
Last week the price range of the third most valuable crypto-coin in the world was pretty stable, letting it start the new week at the margin of nearly $0.60....
Tech Investor Palihapitiya Said Buffett’s Wrong, Despite Being His ‘Disciple’
At the end of April, Yahoo Finance published an interview with Warren Buffett, in which the known investment master blasted bitcoin. The Oracle of Omaha...
5 Best Cryptocurrencies For Investing, According to Weiss Ratings
Investing in cyber assets has already become what is called a gold mine. People all over the world have got an opportunity to get richer faster and simpler....
Steven Seagal & Founders of Bitcoiin Abandoned the Project After ICO
The news concerning leery Bitcoiin, known as Bitcoiin2Gen, does not stop wondering the crypto-ecosystem. Not long ago the dubious coin, endorsed by the...
Ukraine to Recognize Mining As Economic Activity
As Ukrainian legislators are struggling to come up with the final version of the bill on cyber money, the country’s government decided to take the bull...
The First Islamic Cryptocurrency Was Created In Malaysia
The cryptocurrency of Malaysian firm HelloGold has successfully passed the procedure of certification of compatibility with Sharia.The cryptocurrency product,...
Bitcoin Plunges Below $8,600 As Crypto Market Marks Another ‘Bloodbath’
Today, February 1 might mark another ‘black’ day in the history of cryptocurrencies. On this day first ever mined cyber-coin in the world – bitcoin – achieved...
Goldman Sachs Cautions Rich Clients on Crypto Craze, Belittles Bitcoin
With the correction which occurred on the crypto market last week, the talks about the start of a huge crash (so-called ‘bubble-bursting’) stirred up. Against...
A 23-Year Old Engineer Used Bitcoin Cash to Buy a $415,000 House In U.S.
Purchasing the real estate using bitcoin or its ilks will soon stop being just a dream. For example, not long ago the trans-border property marketplace...
The AI-startup Neuromation Attracted $50 million during ICO
Ukrainian ICO arena has a new record: The startup Neuromation with the Ukrainian CEO and the office in Kiev attracted $ 50 million for ICO. Moreover, all...
Stellar Made More Than 150% Gain For The Year Already
Recently, the crypto-currencies, which were created by the developer Jed McCaleb, demonstrate outstanding performance. First Ripple, whose rate grew by...
Ledger Blue – a Hardware Wallet for the Smart Contract Era
Ledger is a French company known for the set of hardware wallets with Bitcoin. Now it has launched a new extension of the product line - Blue Ledger. Ledger...