Lisk CEO, Max Kordek says many cryptocurrencies out there are just ‘coins,’ circulating in a dead network solving no problem.
“I can't speak for every cryptocurrency but many never had any bigger goal, target market, or use in mind,” he said via email. “However, even projects with a great vision have problems (failure rate for regular startups is about 90%. In the Blockchain industry this number is probably bigger). I think the biggest mistake everyone has is to solve everything at once and trying to implement dozens of different features. It's a marathon. I don't think within the next 12-18 months we will see major adoption cycles. It takes time to build the foundation, then it takes time to build a good product, then it takes time to design a great UX, and maybe then you can expect hundred of thousands of users. Not before. So staying in the game for a long time and being consistent. This is key for me.”