September 22, 2020

An analysis shows that most of the top 100 virtual currencies have no practical application

2 min read

The initial financing of virtual currency is also the hot ICO investment last year, which has shown an extensive application prospect when starting funding.

However, after the completion of the financing, these ICO tokens began to become speculative on the shelves, as for the prospective application of the original paintings.

The financing of these virtual currency world ICOs, analysis and survey show that most of the top 100 virtual currencies do not have any actual application scenarios.

100 virtual currencies

Ethereum encryption case:

Encrypted that run on the Ethereum network last year was the hottest blockchain games, and the crypto games at peak times even made the entire Ethereum network congested.

This is also one of the few practical projects running on the Ethereum network. Although it is just a virtual, it can be considered as a practical application.

But by the time this year’s hot crypto game had fewer than a few thousand players, the reduction in players meant that there was no payment transaction between the user and the user.


The most active virtual currency is the payment system:

Virtual currency, such as Bitcoin, Litecoin, and Ripple, is still a payment system, and Ethereum is an exception, mainly a smart contract system.

These virtual currencies have been used for a wide range of purposes in daily life, such as Bitcoin and Litecoin, which are used for payment in some areas.

Ripple is running inter-bank block settlement on the Ripple-based block network, and Ethereum can use smart contracts for multiple purposes.

Most ICO projects are not applied:

Almost every ICO will boast of its ambitious goals before starting financing, and dozens of pages of white papers depict the blockchain revolutionising the world.

However, the final step after the completion of these ICO financings is to put on the exchange. After all, you can speculate on the trade to push up the token price to make another profit.

As for the original goal of boasting, it was completely unrecognisable. These ICO projects were originally targeted at areas such as payment, social networking, and games.

During the period, some ICO projects were running directly under the condition that the financing was not completed, and the Ethereum paid by the user was taken to the exchange to leave.

Here we also remind everyone to be cautious in participating in virtual currency, not to participate in any ICO project, most ICO projects are fraudulent and do not think about getting rich overnight.