Coins Should Be Ranked By Nodes Not Market Cap, CoinMonks Say

Coins Should Be Ranked By Nodes Not Market Cap, CoinMonks Say
фото показано с : bitcoinist.com

2019-11-26 15:30

Ranking coins by the number of nodes may give more insight into the value and potential of a crypto asset. The current ranking based on market capitalization may be misleading, CoinMonks argue.

Nodes Not Market Cap

A recent blog posting by CoinMonks explored the messages behind the various networks and their number of nodes. At the lead are indeed the top coins by network participants – Bitcoin (BTC) with currently upward of 9,300 nodes, and Ethereum (ETH), with more than 7,500.

The list of assets paints an entirely different picture in comparison to the market cap list. Beyond the top coins, there are multiple mineable projects with a vast node count. These relatively small assets still have supportive communities and may rely on a more distributed network.

Other coins have a greater number of participants based on their protocol, as in the case of TRON, which has 933 nodes in addition to the Super Representatives. Other coins and tokens have a lot by virtue of a combined mining and staking, as in the case of Dash (DASH).

For other coins with a relatively high ranking, there is not even clear node information. In the case of Ethereum Classic (ETC), recent information revealed the coin had only six nodes, a rather insufficient and attackable number. The researchers failed to discover an updated number of them. The same applies for prominent assets like Monero (XMR), or Cardano (ADA).

Reporting Reveals Risks of Network Attacks

For some projects, unreliable reporting also affects the ranking, but may also undermine the project’s credibility. The other problem is that reported nodes do not always reflect geographic distribution, as it is possible to use hired computing power to run them. Other networks run nodes on consumer electronics, requiring fewer resources.

The ranking by market participants also excludes most tokens, which already rely on another network for their distribution. ERC-20 tokens are in fact rather secure, since their transactions are broadcast through Ethereum nodes.

An insufficient number of participants creates problems such as impersonation, or Sybill attacks. Then, there is also the problem of operators simply giving up or running out of resources. Censorship and internet firewalls may also cut off nodes.

Despite the number of participants, the keeping of the entire blockchain history is in question. In the case of BTC, it is still possible to download the state of the ledger at 260 GB, but for now, only one entity has been dedicated to running a node with the entire Ethereum (ETH) history.

What do you think about market cap as a ranking system? Share your thoughts in the comments section below!

Images via Shutterstock

The post Coins Should Be Ranked By Nodes Not Market Cap, CoinMonks Say appeared first on Bitcoinist.com.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

nodes market coinmonks coins cap may number

Источник: bitcoinist.com

nodes market → Результатов: 53


Security and encryption expert Securosys integrates with R3’s Corda Enterprise

Securosys, a market leader in cybersecurity and encryption, announced today it has partnered with enterprise blockchain software firm, R3, to provide signing key security for customers. As part of the partnership, the two companies have delivered packaged integrations between Securosys HSM and Corda Enterprise nodes, covering the major cryptographic keys demanded by some joint enterprise […] CryptoNinjas: Security and encryption expert Securosys integrates with R3’s Corda Enterprise

2019-10-24 18:23


Neutro ICO

The Neutro Protocol solves the trilemma of scalability, security and decentralization, allows for anonymous transactions and eradicates the need for centralized oracles. Neutro users can create a decentralized version of almost any real-world market that exists now only in a centralized system that we all use currently.

2019-5-15 14:13


Litecoin Achieves New Heights As Lightning Strikes Twice

Litecoin, the sixth-largest cryptocurrency asset by market capitalization, has recently set a new high in mining hashrate – and a new record number of Lightning nodes. The eight-year-old cryptocurrency continues to defy predictions of its demise, with new adaptations like Mimblewimble and the Lightning Network demonstrating its viability against other altcoins.

2019-4-16 22:12


Фото:

Lightning Nodes: How Risk-Averse Investors Will Finally Enter Crypto

Lightning nodes may be able to create a safe return similar to holding bonds in traditional finance, creating an opportunity for risk-averse investors to enter the cryptocurrency market. At least that’s the view taken by BitMEX who suggest that able node operators, who provide liquidity and ensure transactions run smoothly through the network, may be […] The post Lightning Nodes: How Risk-Averse Investors Will Finally Enter Crypto appeared first on Crypto Briefing.

2019-3-29 23:18


Litecoin Makes Double Digit Gains

The Bitcoin-like coin Litecoin has surged over 10% in the last couple of days. This surge is being attributed to the fact that Litecoin’s Lightning Network went over 100 nodes recently. The Litecoin is seeing double-digit gains in the market because its lightning network has just crossed over 100 nodes and is expected to be The post Litecoin Makes Double Digit Gains appeared first on ItsBlockchain.

2019-1-7 10:07


Bitcoin could touch ATH again in 2019: according to weiss ratings

The Bitcoin-like coin Litecoin has surged over 10% in the last couple of days. This surge is being attributed to the fact that Litecoin’s Lightning Network went over 100 nodes recently. The Litecoin is seeing double-digit gains in the market because its lightning network has just crossed over 100 nodes and is expected to be The post Bitcoin could touch ATH again in 2019: according to weiss ratings appeared first on ItsBlockchain.

2019-1-6 11:55


Фото:

The Genesis Files: With Bit Gold, Szabo Was Inches Away From Inventing Bitcoin

As his Hungarian parents had fled post-war Soviet regime to settle in the United States, Nick Szabo came to call the Californian Bay area of the 1990s his home. Here, he was among the first to frequent the in-person “Cypherpunk” meetings organized by Timothy May, Eric Hughes and other founding members of the collective of cryptographers, programmers and privacy activists centered around the ’90s mailing list of the same name.

2018-7-13 17:16


Фото:

On Radical Markets

Recently I had the fortune to have received an advance copy of Eric Posner and Glen Weyl’s new book, Radical Markets, which could be best described as an interesting new way of looking at the subject that is sometimes called “political economy” - tackling the big questions of how markets and politics and society intersect.

2018-7-21 04:03


дальше еще 4 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

TRON network officially supported by LayerZero

TRON joins forces with LayerZero to offer efficient cross-chain interactions, enabling developers to expand their dApps across 70+ networks. The post TRON network officially supported by LayerZero appeared first on Crypto Briefing.

TRON DAO at DC Blockchain Summit

As a Silver Sponsor at the DC Summit, TRON DAO connected with various industry leaders and policymakers, fostering growth within the sector. The post TRON DAO at DC Blockchain Summit appeared first on Crypto Briefing.

TRON DAO at Cornell Blockchain Conference

Through DeFi panel discussions with industry leaders, TRON DAO cemented its role in fostering education and the future of decentralization. The post TRON DAO at Cornell Blockchain Conference appeared first on Crypto Briefing.