The blockchain industry has been in full swing for over a decade now. There are many different blockchains and it can get confusing on determining the performance and which one to be a part of. In the crypto community, it is always stated to do your research and that takes time if you are doing it thoroughly. The growth and performance are important to any blockchain and with so many of them now, it's been a competition to beat the #1, first and original blockchain, Bitcoin.
Growth and Performance
Dapps
As chains competed, Decentralized Applications (DApps) was the main driver for crypto adoption. For a while now, Ethereum (ETH) and EOS held the top spots for the amount of DApps and active users on a blockchain but according to the Vincent Niu, Founder of Dapp.Review shared an update on Medium that Tron (TRX) surpasses EOS to take the #2 spot.
Source: Medium
Activity
Depending on how the analysis was done, it can show different perspectives of growth. DApps can be a way to help measure growth but it doesn't show the whole picture. When you look at blockchain operations and activities on the network, EOS holds the #1 spot according to Blocktivity.
Source: Blocktivity
Operations on a blockchain can vary depending on how they were designed. A blockchain like Steem being a blogging platform counts blog posts and comments as operations and not just transfer of funds. Smart contracts and many other things can count for operations on a blockchain.
Ratings
With growth and so many blockchains, an established company like Wiess Ratings will come in and give their take on the value and grade of institutions and investments.
Weiss Ratings started back in 1971 and now includes the crypto market.
Weiss Crypto Ratings cover 5 key advantages for users:
- The broadest coverage
- Strictest independence
- Complete objectivity
- High ethics
- Commitment to safety
Their rating scale is graded as:
A = excellent
B = good
C = fair
D = weak
E = very weak
Weiss Crypto Ratings cover both Coins and Tokens. They are broken down into 5 categories:
Source: WeissCrypto
Token Ratings have the same amount of categories but with 2 that are different, liquidity and availability:
Source: WeissCrypto
You can read up on how they rate their crypto here.
With many different tools to use to get data, here are just a few the crypto community can use to help with their analysis and determine which blockchains to be a part of. As competition heats up in 2020, looking at the growth and performance can help newcomers to the crypto space make better decisions and minimize risk.
If you have an analysis tool or website you'd like to share, leave it in the comments below.
