‘Vaporware’ is a term that’s tossed about loosely, often against cryptocurrency projects that have no clear use case. It’s an easy accusation to make given that many crypto projects are still at the development stage, and haven’t had a chance to prove themselves. This year’s vaporware could be next year’s ethereum – or at least so the investors hope. While a vast number of cryptocurrencies are derided as vaporware, the following four attract this jibe more than most.
Catching the Vapors
Vaporware has been defined as “software or hardware that has been advertised but is not yet available to buy, either because it is only a concept or because it is still being written or designed”. That definition applies to 90% of all ICOs right now, which are either still tallying up their ether or hunting down devs capable of bringing their six-page white paper to life. It will be months or even years before we discover which projects proved their worth, and which were wearing the emperor’s new clothes: ”blockchain” dressed up as innovation.
The vaporware meme gained traction in November after Nate Murray published a graphic describing the top 100 cryptocurrencies in four words or less. In it, Veritaseum was labeled as vaporware, though there are coins much higher on the list that arguably warrant that epithet like Kin, a billion dollar token with zero uses at present. The following projects have every chance of success. To their detractors, though, they’re little more than software in search of a solution – and unbuilt software at that.
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