The report purports to have examined 488 virtual currencies that use open source code. After comparing the code underpinning the analyzed cryptocurrencies in pairs, the researchers found that the code underpinning 405 cryptocurrencies (83%) yielded a similarity score of between 90% and 100%. Further, 324 of the virtual currencies (66.6%) had a similarity score of between 95% to 100%.
Only 38 cryptocurrencies (8%) were found to have a similarity score of less than 80%. 45 virtual currencies (9%) were found to have a similarity score of between 80% and 90%.
Xie Shaoyun also criticized what she described as a lack of technological innovation emerging from the distributed ledger technology industries, stating: “At present, the industry still lacks the real breakthrough in innovation and solves the problem, and puts the implementation of the application in the first place. The people are holding the mentality of experimenting and luck.”
“We should return to the essence, truly solve practical problems, do tools that can be used by users and bring convenience, build real value and usability, come up with actual products, and promote the development of the industry from the actual recognized value,” she concluded.
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