ICO Market Research: The Leading Blockchain Platforms Of 2017

An Initial Coin Offering (ICO) is the process or event that Blockchain enterprises adopt to raise funds for their ventures or projects. It bears some similarities with Initial Public Offering (IPO) as pertains with mainstream stock market, the difference here however is that investors actually do not own shares in these blockchain companies. They only get allocated tokens whose values rise or fall based on the performance of these companies. But just like shares on the stock market, tokens can be traded and liquidated on cryptocurrency or digital asset exchanges.

ICO Platform Research 2017

Since almost all ICOs require the processes of token creation and allocation, there comes the need to make use a Blockchain to power the ICO and its tokens. A Blockchain is a decentralized public database of digital transactions which is permanently recorded and can never be altered or erased.

The ICOWatchList.com Team has over the period dedicated time to study and research over 400 ICO projects and the Blockchains on which they have been hosted and have come up with the following findings as a result;

It was discovered that the Ethereum Blockchain has so far been quite popular with the majority of ICO projects. Approximately 56.83% of the 400+ ICOs made use of this Blockchain. One major reason accounting for this is Ethereum’s smart contract feature.

A sizeable chunk of ICO campaigns also made use of their own customized Blockchains. An estimated 29.96% either developed their own Blockchain from scratch or made use of an open source Blockchain platform and tweaked it to fit their project needs.

The Waves Blockchain came in a distant third as only 2.20% of digital projects have made use of it thus far. Waves was specifically designed to assist projects run their own ICOs with comprehensive features such as cost-effective value transfer and an effective decentralized exchange for tokens being a few of its many attributes. The blockchain is also set-up for easy audit and also has a publicly accessible and unalterable ledger of transactions. Project founders are able to create their own customized tokens off the wave tokens they are allocated by virtue of signing-up to place their ICO campaigns on the Blockchain.

1.76% of projects made use of the Bitcoin fork blockchain whiles 1.32% utilized Hyperledger. Hyperledger is an open source blockchain which came into existence as a result of a global cross-industry collaboration. It is hosted by the Linux foundation in collaboration with industry leaders in Banking and Finance, supply chains, Internet of Things, Manufacturing and Technology.

Other blockchain platforms used by ICOs include Bitshares (0.88%) which is a blockchain mainly focused on the real financial sector, Rootstock (0.88%) – the first open source blockchain platform equipped with a 2-way smart contract which is pegged to Bitcoin and also rewards bitcoin miners.

Additionally, less than one percent of ICO projects made use of NEM (A distributed ledger blockchain technology which promotes quick and secure transactions) and whiles some 4% of the projects made use of other lesser known Blockchain platforms.

 

This article was originally published by ICO WatchList.

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