'0% Success': Why Blockchain Apps Just Aren't Taking Off

Published on by Coindesk | Published on

The most widely used dapps have a few thousand daily users and a study of 43 blockchain applications found a zero percent success rate.

With so much funding and talent in the space, why do we have so little success to show?

Rather than working within an low-risk environment that supports iterations and learning, blockchain companies follow a playbook that stacks the odds against their success.

With a market emphasis on ideas and theory, projects follow the white paper as if it is the final product plan rather than the starting point.

For a better 2019, we can take lessons from how successful technology companies are built and apply them to the blockchain space.

Many blockchain projects that pitched a future of decentralization just a year ago are realizing you cannot find mass market success by preaching a philosophy alone.

There is an mistaken perception in crypto that the idea is the most important part of success.

Two markets with runaway success in 2018 were exchanges and mining hardware.

In the same year, no decentralized application has seen mainstream success.

Despite a 2018 with few signs of success, I am optimistic about the year ahead. As seen in the dot-com bubble and burst, bear markets are some of the best times to collect talent and build.