But this was not the end of the story, in fact this was just the beginning. The next logical question was “what about all those alleged Ethereum Killers like EOS?” how were they doing two years on?
How many of the top 2,000 coins on coinmarketcap.com are in fact actually coins?And how many are just tokens riding on another coins blockchain? Well the numbers were actually quite under whelming to say the least…Ethereum = 1,113 tokens NEO = 21 tokens Stellar = 18 tokens EOS = 14 tokens Waves = 13 tokens BitShares = 10 tokens Tron = 9 tokens Qtum = 7 tokens NEM = 4 tokens Ardor = 3 tokens VeChain = 3 tokens Cosmos = 2 tokens There were also a hand full of other dApps platforms in the top 2,000 however they only had 1 token in the top 2,000 so we choose not to count them as being relevant at this time.
Shocked at the poor turn out of these would be “Ethereum Killers” especially after having raised billions in investor funding, having had two years to gain some traction and get a foot hold in the market. I decided to run some further code to calculate the combined market cap of each dApps blockchain to establish just how much market share these projects have managed to capture with their mountain high stacks of investor funds.
Worst here in my opinion would have to be EOS, having raised over $1billion in a yearlong ICO to now only have 14 tokens in the top 2,000 on coin market cap… and with that has gained a market share of just 0.0238%Just how many more billions in investor money do they need to be able to get that figure up to 1%?
And if you think that is bad just look at the combined market cap of those 14 coins just $43million! (after raising $1billion at ICO)
And then what about NEM and Waves? Both have been around a relatively decent amount of time to have gained some traction as dApps platforms yet both seem to have completely failed, NEM with just 4 tokens in the top 2,000!Conclusion
There is no conclusion,...