Ranking Cryptocurrencies By Functionality

Crypto Coin Growth

Crypto is about the Timing… And Times are Good

CCG News

Ranking Cryptocurrencies By Functionality

Ranking Cryptocurrencies By FunctionalityAt a time when the cryptocurrency markets are going through a bearish period of correction, analysts are taking a hard look at what the future may bring for this sector. According to a recent report published by British newspaper The Independent, only 40 percent of the top 100 digital currencies in terms of market capitalization actually have enough functionality to justify meaningful value.

The determination of a cryptocurrency’s functionality can be based on features, blockchain efficiency, business plan, history, development status, partnerships, implementation, and foreseeable future. This criterion has been evaluated by Invest in Blockchain, an online working group dedicated to cryptocurrency analysis.

The importance of conducting critical research into cryptocurrency is important at a time when investors are looking for more than just market charts to make long-term commitments. The next rally could be partially determined by objective analysis instead of purely by speculation; with this in mind, the following cryptocurrencies have the most attractive value in terms of real-world functionality.

Ethereum

Quite a few of the most important blockchain projects in the world run on this blockchain, which focuses more on smart contracts and computational tasks than on digital currency tokens. The few central banks that have issued digital versions of their fiat currencies have selected Ethereum as their preferred blockchain.

Bitcoin

Even though the original cryptocurrency is looking a bit long in the tooth, the fact remains that its blockchain has been able to handle millions of transactions in nearly a decade. Bitcoin has provided a strong peer-to-peer network of electronic payments, but it has failed to attain circulation because of conflicts between core developers and its mining community.

Ripple

This centralized digital currency has worked wonders for international money transfers and remittances, but it has failed to gain traction as an alternative to cash despite vigorous marketing and several business partnerships.

Bitcoin Cash

At the moment, Bitcoin Cash is essentially an improved fork of the Bitcoin blockchain, but its core development team has a realistic business plan to encourage circulation by means of facilitating retail transactions. In other words, Bitcoin Cash has a plan to become a real alternative to cash, at least more so than its parent blockchain.

Monero

As long as there is demand for ultra private payment networks that offer anonymity as well as plausible deniability, Monero will have a shot a being a market leader. The only problem with this secretive digital currency is that its circulation is bound to be tied to the underground economy.

About Author