Report finds almost 90% similarity in the code of most cryptocurrencies

It is being reported by Blockmanity that a new study has been released by Chinese researchers in which they seem to find a perhaps not-too surprising similarity in the code of most cryptocurrencies.

The study comes from Xi’an Jiaotong University in China’s Shaanxi Province, representing Netta Lab. In it the researchers show how they evaluated the code of 488 of the top open-source cryptos and compared them to obtain similarity scores. It may not surprise many in the crypto sphere to find that 83% of those tested had a similarity score of 90% or higher.

In addition, 9% were found to have scores between 80% and 90%. Finally, only 8% had scores below 80%. It is fairly well known that a great many cryptocurrencies, many even well supported projects, are clones or actual forks of other projects, with just adjustments to hashing algorithm or blocksize.

Xie Shaoyun, founder of Netta Lab, was quoted in the article:

“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 makes a valid point. Perhaps the industry needs more innovation and less imitation.

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