85 Percent of Developers Can Alter Their Cryptoassets' Protocol, Research Shows

Cryptocurrency tracking resource CryptoCompare's recent study has shown that 85 percent of crypto assets allow development teams to alter their platforms.

The report was published Wednesday, Oct. 17, on CryptoCompare's website.

To create the report, CryptoCompare reviewed hundreds of crypto and blockchain projects, with experts detecting a tendency towards centralization set by utility tokens that are running on controlled servers.

According to the research, as many as 85 percent of developers can change the protocol on their projects at any moment at their own discretion.

The yearly taxonomy of cryptocurrencies also revealed that 55 percent of existing crypto assets are actually centralized, while 30 percent more are semi-decentralized.

As a conclusion, only 16% of all existing crypto assets are considered to be a fully decentralized ecosystem.

CryptoCompare's total amount equals 101 percent instead of 100 percent, which might indicate a reporting error.

As per the report, almost 41 percent of them are centralized, while another 22 percent are centralized to some extent.

CryptoCompare's study also reveals that most cryptocurrencies can technically be classified securities.

55 percent of crypto assets could be treated as securities and fall under existing regulation, CryptoCompare states.