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Interest in cryptocurrencies has skyrocketed since their introduction adecade ago, with hundreds of billions of dollars now invested across alandscape of thousands of different cryptocurrencies. While there issignificant diversity, there is also a significant number of scams as peopleseek to exploit the current popularity. In this paper, we seek to identify theextent of innovation in the cryptocurrency landscape using the open-sourcerepositories associated with each one. Among other findings, we observe thatwhile many cryptocurrencies are largely unchanged copies of Bitcoin, the use ofEthereum as a platform has enabled the deployment of cryptocurrencies with morediverse functionalities.

Why is a Ravencoin Like a TokenDesk? An Exploration of Code Diversity in the Cryptocurrency Landscape