Dfinity Foundation Founder: Currently, 95% of blockchain projects are "garbage."

ChainCatcher news, according to The Block, Dfinity Foundation's founder Dominic Williams recently made sharp comments on the current state of the cryptocurrency and blockchain industry. Williams stated that currently 95% of blockchain projects are "garbage," and pointed out that the industry seems to focus more on narratives rather than substance. He believes that the current challenge in the industry is that people invest in so-called "silver bullets," choosing to invest due to marketing and becoming mired in chaotic narratives.

Williams further explained that although blockchains like Bitcoin, Ethereum, Solana, and Avalanche perform well in handling transactions, he is skeptical about these platforms building a brand new, decentralized internet. He believes that only the Internet Computer Protocol (ICP) is the true "third-generation" blockchain that can effectively address scalability issues and support the construction of fully on-chain network interactions, such as on-chain social networks.