What is Dogecoin mining? Learn all you need to get started.

The Next Web - On Bitcoin Mining Difficulty: "iDrive might have better luck rerunning the projection for a younger virtual currency like dogecoin."

The Next Web - On Bitcoin Mining Difficulty: submitted by silentReshiber to dogecoin [link] [comments]

Mining and Dogecoin - Some FAQs

Hey shibes,
I see a lot of posts about mining lately and questions about the core wallet and how to mine with it, so here are some facts!
Feel free to add information to that thread or correct me if I did any mistake.

You downloaded the core wallet

Great! After a decade it probably synced and now you are wondering how to get coins? Bad news: You don't get coins by running your wallet, even running it as a full node. Check what a full node is here.
Maybe you thought so, because you saw a very old screenshot of a wallet, like this (Version 1.2). This version had a "Dig" tab where you can enter your mining configuration. The current version doesn't have this anymore, probably because it doesn't make sense anymore.

You downloaded a GPU/CPU miner

Nice! You did it, even your antivirus system probably went postal and you started covering all your webcams... But here is the bad news again: Since people are using ASIC miners, you just can't compete with your CPU hardware anymore. Even with your more advanced GPU you will have a hard time. The hashrate is too high for a desktop PC to compete with them. The blocks should be mined every 1 minute (or so) and that's causing the difficulty to go up - and we are out... So definitly check what is your hashrate while you are mining, you would need about 1.5 MH/s to make 1 Doge in 24 hours!

Mining Doge

Let us start with a quote:
"Dogecoin Core 1.8 introduces AuxPoW from block 371,337. AuxPoW is a technology which enables miners to submit work done while mining other coins, as work on the Dogecoin block chain."
- langerhans
What does this mean? You could waste your hashrate only on the Dogecoin chain, probably find never a block, but when, you only receive about 10.000 Dogecoins, currently worth about $25. Or you could apply your hashrate to LTC and Doge (and probably even more) at the same time. Your change of solving the block (finding the nonce) is your hashrate divided by the hashrat in sum - and this is about the same for Doge and LTC. This means you will always want to submit your work to all chains available!

Mining solo versus pool

So let's face it - mining solo won't get you anywhere, so let's mine on a pool! If you have a really bad Hashrate, please consider that: Often you need about $1 or $2 worth of crypto to receive a payout (without fees). This means, you have to get there. With 100 MH/s on prohashing, it takes about 6 days, running 24/7 to get to that threshold. Now you can do the math... 1 MH/s = 1000 KH/s, if you are below 1 MH/s, you probably won't have fun.

Buying an ASIC

You found an old BTC USB-miner with 24 GH/s (1 GH/s = 1000 MH/s) for $80 bucks - next stop lambo!? Sorry, bad news again, this hashrate is for SHA-256! If you want to mine LTC/Doge you will need a miner using scrypt with quite lower numbers on the hashrate per second, so don't fall for that. Often when you have a big miner (= also loud), you get more Hashrate per $ spent on the miner, but most will still run on a operational loss, because the electricity is too expensive and the miners will be outdated soon again. Leading me to my next point...

Making profit

You won't make money running your miner. Just do the math: What if you would have bougth a miner 1 year ago? Substract costs for electricity and then compare to: What if you just have bought coins. In most cases you would have a greater profit by just buying coins, maybe even with a "stable" coin like Doges.

Cloud Mining

Okay, this was a lot of text and you are still on the hook? Maybe you are desperated enough to invest in some cloud mining contract... But this isn't a good idea either, because most of such contracts are scams based on a ponzi scheme. You often can spot them easy, because they guarantee way to high profits, or they fake payouts that never happened, etc.
Just a thought: If someone in a subway says to you: Give me $1 and lets meet in one year, right here and I give you $54,211,841, you wouldn't trust him and if some mining contract says they will give you 5% a day it is basically the same.
Also rember the merged mining part. Nobody would offer you to mine Doges, they would offer you to buy a hashrate for scrypt that will apply on multiple chains.

Alternative coins

Maybe try to mine a coin where you don't have ASICs yet, like Monero and exchange them to Doge. If somebody already tried this - feel free to add your thoughts!

Folding at Home (Doge)

Some people say folding at home (FAH - https://www.dogecoinfah.com/) still the best. I just installed the tool and it says I would make 69.852 points a day, running on medium power what equates to 8 Doges. It is easy, it was fun, but it isn't much.
Thanks for reading
_nformant
submitted by _nformant to dogecoin [link] [comments]

Overview of Major Risks of Buying Nyancoins - Version 6

This is the sixth version of the NYAN risks document (based on v5 (v4 (v3 , v2 and original)). These are obsoleted periodically as the old ones get archived to allow for comments again via a new post, to re-examine the risks in light of changes, and for greater visibility.
The purpose of these documents is to provide a best-effort discussion of major risk factors in gambling on NYAN, modeled on the risks disclosure in a 10k (annual report) which is mandated for publicly traded companies in the United States. This document is provided with no guarantee that major risk factors have not been missed, and it is important to recognize my (coinaday) personal bias from holding about one-third of the total supply of NYAN.
Please comment on any risks which are not mentioned here or additional aspects of risks here you think should be further emphasized or any other possible disclosure you think would be helpful to a person considering gambling on NYAN.
Executive summary
Nyancoins have no exchange, no core developer at the moment, uncertain demand, have had inconsistent blocks, are very vulnerable to 51% attacks, have the potential for serious bugs, an uncertain legal situation, concentrated ownership, low liquidity, depend upon the Internet, may be addictive, and could make you wealthy, which has been alleged to lead to more problems.
Introduction: This is my best attempt to collect every major risk factor from buying Nyancoins, although I can offer no warranty of fitness for this information for any purposes. I believe in honesty and forthrightness. Having this available and obvious is a simple matter of basic decency. Much, hopefully all, of this information has been discussed previously in /nyancoins, but this document in particular is about being up-to-date and central. This page will be updated clearly as appropriate if situations change on a best-effort basis (which may mean updates do not happen for months at times, unfortunately; please ping for faster updates).
If you believe that I am missing something, please note any other major risks you see in the comments.
Exchanges:
Nyancoins are not currently traded on any exchange. It may be listed on one minor exchange but have no volume there. Obviously an unlisted cryptocurrency is in a bad situation. I hope to see us gain a listing on an exchange which supports low volume coins in 2020 but I have no current prospect of this and it should be considered a longshot at best.
Previously we traded on Trade Satoshi and prior to that on Cryptopia and prior to that on Cryptsy. All three exchanges failed us (Trade Satoshi delisted without allowing withdrawal; Cryptopia delisted and failed to provide withdrawal and then went bankrupt; Cryptsy went bankrupt). This is a further reminder that exchanges are a major risk and one should be extremely careful to not keep more coins on there than one can comfortably afford to lose.
In theory, there are decentralized exchange technologies, notably CATE; however, I think we currently lack some needed APIs for this. I'm not certain but we haven't demonstrated the capability yet. On-Reddit exchanges are also possible with tipbots, but require trust as they are not atomic. It should be possible to build an "exchangebot" similarly, although I'm not currently aware of one, but my concept would still have the bot as a trusted central party.
Atomic cross-chain transactions seem to me like a very promising core technology ultimately for building exchanges which can be more proveably secure. They could also allow exchanges to share a common listing protocol as well without having to trust the other exchanges (at least, beyond the core protocol development and maintenance; tanstaafl). This is not yet accomplished though and in the meantime we remain vulnerable to periodic exchange failures.
Core developer: Although we have good general tech support in this community and have put up supporting infrastructure, there is not anyone officially currently working on core client code. This is a significant problem for the long-term, although we are not in any immediate known need of changes.
ImASharkRawwwr has returned to the community and may do future client updates, but I'm leaving the lack of core developer risk unchanged until there is an update released. This is not intended as a slight in any way but merely being cautious in the risks document and recognizing that we aren't certain when or if there will be a next release.
Demand: NYAN was introduced in 2014 and during the second half of that year had so little demand that it almost died out. In January 2015 I got involved in the coin and for most of 2015 and 2016 I was the majority of the buying pressure. I base these statements on my recollection of the trading history so far and the fact that I have acquired more than 120 million coins, somewhere around 41% of the coins (latest hodling report, June 2017), as well as my observations that I had usually had the leading major bid, and usually the leading bid regardless of size.
In 2017, I have generally not been a major factor in the demand, as I haven’t had money to spare to gamble on NYAN. In June 2017, we have had a spike in buying from an unknown source.
It is unknown whether significant demand for NYAN will continue. Because its value is purely speculative, it is entirely possible that demand for NYAN could simply end. This is a fundamental risk in gambling on NYAN; it is entirely possible that its value will go to zero and not recover.
By the end of 2019, we lost exchange listing. I know of no current demand for NYAN. I hope to see us listed and demand exist in the future but should not be relied upon. NYAN last traded around 9 satoshi according to coinmarketcap but it may well not even trade that high even if relisted someday - there could be a flood of selling and no buyers.
Inconsistent blocks:
Although NYAN is designed to produce a block every minute, there have been times where there has been more than 24 hours between blocks. This results because of an imperfect difficulty function and low base hashing, along with price fluctuations, which can combine to have a low difficulty making the coin attractive for a flood of hashing power which can lead the difficulty function to overcompensate, leaving it stuck with a high difficulty no longer profitable to mine.
I haven’t observed this lately, that is, I don’t recall incidents of this in 2017, but I’ve been paying far less attention to it as well. It is entirely possible for this to recur, as the difficulty function is not fixed (it would require a hard fork to fix it). We seem to have more baseline hashing which helps to avoid this, but it is possible for us to lose that.
A workaround is to use large transaction fees (I've set my client to 337 NYAN) which is enough to cause pools to generally solve a block even if the chain were otherwise stuck. It may be possible to include a better difficulty function in a hard fork client, but it is unknown when if ever this would be done and it's not yet clear what design improvement if any would fix this.
51% attack: Because of the generally quite low hashing power on NYAN, it is highly vulnerable to a 51% attack. Either a leading pool or a new one could choose to do a denial-of-service attack, whether for extortion, lulz, or some other reason (like coinaday being annoying). Such an attack is capable of preventing any transaction processing for as long as it is sustained. I consider this a relatively low risk since I expect we would simply wait it out (and potentially not even notice such an attack for quite a while given the low volume of transactions currently), but it is definitely a potential vulnerability.
Bugs: It is possible that there are bugs in the underlying code. I have never read through all of the bitcoin or nyancoin code, of any version, nor even studied the original bitcoin whitepaper in depth (by the way, we oughta make up a nyancoin whitepaper or ten someday), meaning I have no professional or technical knowledge about whether or not the system is fundamentally sound. I've been going based on "it seems to be working, so it's probably fine", which is, shall we say, more of an engineering than scientific approach.
I have heard reference to a "time warp" bug vulnerability in the KGW difficulty function which Nyancoins has. I do not know details and my understanding is a fix to this would require a fork to change the difficulty function, so I do not anticipate a fix before NYAN3, the term for an eventual hard fork, but it is unknown when if ever this would be done. I consider this vulnerability to be likely to be related to the fundamental weakness to difficulty spikes after large amounts of hashing jumps on the network. Hostile (or simply passing interest with large capacity) hashing does degrade the performance of the network. As a workaround, this class of attack can be mitigated with a transaction to 'unstick' the chain after, since the difficulty function will adjust in the next block after enough wall-time has passed since the last block (so only need one high difficulty solve which can be triggered by a transaction fee).
Legal: Bitcoin faces uncertain legal situations in almost every country. Nyancoin is even more uncertain, as people tend to consider bitcoin and not address impacts on altcoins. Between the potential tax implications and banking regulations and currency laws, there are a wide variety of ways a person could make a felony-level mistake. This can be somewhat mitigated by merely buying and holding, as you won't be responsible for KYC/AML presumably (although an argument could be made in your purchase), and presumably unrealized capital gains wouldn't be taxable (but I am neither a lawyer nor accountant nor any sort of expert on the relevant accounting laws in any country).
Somehow getting legal opinions for Nyancoins in every country would be very useful in my opinion. If Bitcoin and altcoins are well-studied in a given country it should be relatively easy to adapt those opinions and research to Nyancoins, but it would still require some pro bono work in any case. So...hopefully we'll get some lawyer Nekonauts someday who are willing to semi-officially give us an opinion. In the meantime...hope that common sense can save you. If you sell Nyancoins directly, you're going to need to comply with the KYC/AML types of laws of your country. If you're going to do banking operations...may the central bank have mercy on your soul.
I think the best advantage we have is the same bitcoin had for its first years: we're too small for anyone to care. But since we plan to grow significantly, we need to be aware of our legal issues upon scale. Which is to say, whether or not you're allowed to sell 10,000 NYAN to your friend probably has a lot to do with whether your friend legally acquired whatever is being offered in exchange, and whether the value of what you get in return is above a certain level or not. I'm not going to try guessing that level precisely because I know I'll be wrong. $1 is probably fine. $10,000 is probably illegal without some significant licensing. I would suggest either not touching fiat or else deliberately capping it without verification after getting an independent local expert legal opinion.
concentration: The fact that I hold about 41%(? not sure the exact percentage as of Dec 2017 ; need to do updated survey to check; 41% sounds slightly high to me but I'll see...I'll try to update by the end of the year or shortly after) of the currently outstanding NYAN could be a major risk factor, particularly if I do not act in the best long-term interests of the strength of Nyancoins. For instance, I could pull my bids, sell only a small part of my holdings, crash the market, and potentially buy a lot of volume for a lower price. While I cannot foresee any circumstance under which I would do this, it is certainly conceivable that I could be financially, legally, or morally obligated to do so if I were to become insolvent.
Liquidity: There is very little trading activity in NYAN. Therefore, large purchases will drive the price up and large sales will drive the price down. This means that entering and exiting a position is likely to result in "slippage", so even if the price has increased slightly overall since the time before one entered a position to the time before one exits it, it is quite possible that the overall trade will be neutral or negative as a result of the pressure on the market. For an extreme example, my own position would be essentially impossible to exit from the market without crashing the price, and even so it would likely be difficult to find buyers even at a satoshi, based on that I currently am the majority of the bids on the market. This is closely tied to the concentration risk but if I were to exit NYAN for any reason or simply fail to continue to renew bids the liquidity would dry up even further.
At the end of 2019, having no exchange, there is functionally zero liquidity. In theory peer to peer trading could still be done but I’m unaware of any.
Internet outage: if the Internet goes down, we hit a very nasty scenario. We can't process transactions, and all the miners go into a race to make 'useless' blocks on their own. If the Internet were never to come back up, Nyancoins would be dead. If there is a daylong internet outage, the longest blockchain discovered after, presumably representing the most hashing power dedicated to empty blocks during that outage, will win. So I suppose the block rewards in that case are for having the faith in Nyancoins to keep hashing and storing the blockchain during the day without the Internet.
addictive: This was a curiosity to me when I started. Now it's an obsession for me. I'm constantly thinking about how I can help to smooth the path for Nyancoins to grow stronger and better and more valuable. You may find that once you start to realize the impact you can have upon Nyancoins, and that Nyancoins can have upon you, that you start to become addicted as well. It is possible to substitute another addiction in its place, such as dogecoins or pcp, but it is not recommended.
Nyancoin addictions are considered 'mostly harmless'. The exception is if you go 'full coinaday' and start to accumulate more than 10% of your assets in Nyancoins. In this, this is essentially a variety of gambling addiction. I would argue that it beats roulette because you can tilt the odds in your favor, but then, I would argue that, wouldn't I?
mo' nyan mo' problems: Some people have claimed that more money leads to more problems. Since nyan is money, it follows as a consequence of the conjecture. Should this be the case, your increasing nyan could potentially lead to such problems in the future as: enhanced attention from revenue collection services of all kinds (governmental and private), swarms of fake friends and gold-diggers, excessive risk-taking as a result of feelings of invincibility, an increase in certain varieties of targeted marketing, possible disqualification for asset-based welfare for you (or even your children, for instance college financial assistance), an inability to remember how many houses you own, or other serious problems.
Conclusion
The lack of any exchange trading Nyancoins is a major risk factor in its future survival. If it is listed, the lack of development is likely the next most serious. The coin currently survives but whether it will continue to do so in the future is far from certain. If those of us who have found or come back to NYAN choose to keep it alive, I believe it still has a chance at surviving into a stronger future.
This self-certified infallible message has been brought to you as a Public Service Announcement of the NYAN Public Relations Council, a transparent front organization of notoriously lovable philanthropist and major NYAN hodler coinaday.
submitted by coinaday to nyancoins [link] [comments]

Which are your Top 5 favourite coins out of the Top 100? An analysis.

I am putting together my investment portfolio for 2018 and made a complete summary of the current Top 100. Interestingly, I noticed that all coins can be categorized into 12 markets. Which markets do you think will play the biggest role in the coming year?
Here is a complete overview of all coins in an excel sheet including name, market, TPS, risk profile, time since launch (negative numbers mean that they are launching that many months in the future) and market cap. You can also sort by all of these fields of course. Coins written in bold are the strongest contenders within their market either due to having the best technology or having a small market cap and still excellent technology and potential. https://docs.google.com/spreadsheets/d/1s8PHcNvvjuy848q18py_CGcu8elRGQAUIf86EYh4QZo/edit#gid=0
The 12 markets are
  1. Currency 13 coins
  2. Platform 25 coins
  3. Ecosystem 9 coins
  4. Privacy 10 coins
  5. Currency Exchange Tool 8 coins
  6. Gaming & Gambling 5 coins
  7. Misc 15 coins
  8. Social Network 4 coins
  9. Fee Token 3 coins
  10. Decentralized Data Storage 4 coins
  11. Cloud Computing 3 coins
  12. Stable Coin 2 coins
Before we look at the individual markets, we need to take a look of the overall market and its biggest issue scalability first:
Cryptocurrencies aim to be a decentralized currency that can be used worldwide. Its goal is to replace dollar, Euro, Yen, all FIAT currencies worldwide. The coin that will achieve that will be worth several trillion dollars.
Bitcoin can only process 7 transactions per second (TPS). In order to replace all FIAT, it would need to perform at at least VISA levels, which usually processes around 3,000 TPS, up to 25,000 TPS during peak times and a maximum of 64,000 TPS. That means that this cryptocurrency would need to be able to perform at least several thousand TPS. However, a ground breaking technology should not look at current technology to set a goal for its use, i.e. estimating the number of emails sent in 1990 based on the number of faxes sent wasn’t a good estimate.
For that reason, 10,000 TPS is the absolute baseline for a cryptocurrency that wants to replace FIAT. This brings me to IOTA, which wants to connect all 80 billion IoT devices that are expected to exist by 2025, which constantly communicate with each other, creating 80 billion or more transactions per second. This is the benchmark that cryptocurrencies should be aiming for. Currently, 8 billion devices are connected to the Internet.
With its Lightning network recently launched, Bitcoin is realistically looking at 50,000 possible soon. Other notable cryptocurrencies besides IOTA and Bitcoin are Nano with 7,000 TPS already tested, Dash with several billion TPS possible with Masternodes, Neo, LISK and RHOC with 100,000 TPS by 2020, Ripple with 50,000 TPS, Ethereum with 10,000 with Sharding.
However, it needs to be said that scalability usually goes at the cost of decentralization and security. So, it needs to be seen, which of these technologies can prove itself resilient and performant.
Without further ado, here are the coins of the first market

Market 1 - Currency:

  1. Bitcoin: 1st generation blockchain with currently bad scalability currently, though the implementation of the Lightning Network looks promising and could alleviate most scalability concerns, scalability and high energy use.
  2. Ripple: Centralized currency that might become very successful due to tight involvement with banks and cross-border payments for financial institutions; banks and companies like Western Union and Moneygram (who they are currently working with) as customers customers. However, it seems they are aiming for more decentralization now.https://ripple.com/dev-blog/decentralization-strategy-update/. Has high TPS due to Proof of Correctness algorithm.
  3. Bitcoin Cash: Bitcoin fork with the difference of having an 8 times bigger block size, making it 8 times more scalable than Bitcoin currently. Further block size increases are planned. Only significant difference is bigger block size while big blocks lead to further problems that don't seem to do well beyond a few thousand TPS. Opponents to a block size argue that increasing the block size limit is unimaginative, offers only temporary relief, and damages decentralization by increasing costs of participation. In order to preserve decentralization, system requirements to participate should be kept low. To understand this, consider an extreme example: very big blocks (1GB+) would require data center level resources to validate the blockchain. This would preclude all but the wealthiest individuals from participating.Community seems more open than Bitcoin's though.
  4. Litecoin : Little brother of Bitcoin. Bitcoin fork with different mining algorithm but not much else.Copies everything that Bitcoin does pretty much. Lack of real innovation.
  5. Dash: Dash (Digital Cash) is a fork of Bitcoin and focuses on user ease. It has very fast transactions within seconds, low fees and uses Proof of Service from Masternodes for consensus. They are currently building a system called Evolution which will allow users to send money using usernames and merchants will find it easy to integrate Dash using the API. You could say Dash is trying to be a PayPal of cryptocurrencies. Currently, cryptocurrencies must choose between decentralization, speed, scalability and can pick only 2. With Masternodes, Dash picked speed and scalability at some cost of decentralization, since with Masternodes the voting power is shifted towards Masternodes, which are run by Dash users who own the most Dash.
  6. IOTA: 3rd generation blockchain called Tangle, which has a high scalability, no fees and instant transactions. IOTA aims to be the connective layer between all 80 billion IOT devices that are expected to be connected to the Internet in 2025, possibly creating 80 billion transactions per second or 800 billion TPS, who knows. However, it needs to be seen if the Tangle can keep up with this scalability and iron out its security issues that have not yet been completely resolved.
  7. Nano: 3rd generation blockchain called Block Lattice with high scalability, no fees and instant transactions. Unlike IOTA, Nano only wants to be a payment processor and nothing else, for now at least. With Nano, every user has their own blockchain and has to perform a small amount of computing for each transaction, which makes Nano perform at 300 TPS with no problems and 7,000 TPS have also been tested successfully. Very promising 3rd gen technology and strong focus on only being the fastest currency without trying to be everything.
  8. Decred: As mining operations have grown, Bitcoin’s decision-making process has become more centralized, with the largest mining companies holding large amounts of power over the Bitcoin improvement process. Decred focuses heavily on decentralization with their PoW Pos hybrid governance system to become what Bitcoin was set out to be. They will soon implement the Lightning Network to scale up. While there do not seem to be more differences to Bitcoin besides the novel hybrid consensus algorithm, which Ethereum, Aeternity and Bitcoin Atom are also implementing, the welcoming and positive Decred community and professoinal team add another level of potential to the coin.
  9. Aeternity: We’ve seen recently, that it’s difficult to scale the execution of smart contracts on the blockchain. Crypto Kitties is a great example. Something as simple as creating and trading unique assets on Ethereum bogged the network down when transaction volume soared. Ethereum and Zilliqa address this problem with Sharding. Aeternity focuses on increasing the scalability of smart contracts and dapps by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts. State channels are lines of communication between parties in a smart contract. They don’t touch the blockchain unless they need to for adjudication or transfer of value. Because they’re off-chain, state channel contracts can operate much more efficiently. They don’t need to pay the network for every time they compute and can also operate with greater privacy. An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams. Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Of course, the data source could still be hacked, so Aeternity implements a prediction market where users can bet on the accuracy and honesty of incoming data from various oracles.It also uses prediction markets for various voting and verification purposes within the platform. Aeternity’s network runs on on a hybrid of proof of work and proof of stake. Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov. Promising concept though not product yet
  10. Bitcoin Atom: Atomic Swaps and hybrid consenus. This looks like the only Bitcoin clone that actually is looking to innovate next to Bitcoin Cash.
  11. Dogecoin: Litecoin fork, fantastic community, though lagging behind a bit in technology.
  12. Bitcoin Gold: A bit better security than bitcoin through ASIC resistant algorithm, but that's it. Not that interesting.
  13. Digibyte: Digibyte's PoS blockchain is spread over a 100,000+ servers, phones, computers, and nodes across the globe, aiming for the ultimate level of decentralization. DigiByte rebalances the load between the five mining algorithms by adjusting the difficulty of each so one algorithm doesn’t become dominant. The algorithm's asymmetric difficulty has gained notoriety and been deployed in many other blockchains.DigiByte’s adoption over the past four years has been slow. It’s still a relatively obscure currency compared its competitors. The DigiByte website offers a lot of great marketing copy and buzzwords. However, there’s not much technical information about what they have planned for the future. You could say Digibyte is like Bitcoin, but with shorter blocktimes and a multi-algorithm. However, that's not really a difference big enough to truly set themselves apart from Bitcoin, since these technologies could be implemented by any blockchain without much difficulty. Their decentralization is probably their strongest asset, however, this also change quickly if the currency takes off and big miners decide to go into Digibyte.
  14. Bitcoin Diamond Asic resistant Bitcoin and Copycat

Market 2 - Platform

Most of the cryptos here have smart contracts and allow dapps (Decentralized apps) to be build on their platform and to use their token as an exchange of value between dapp services.
  1. Ethereum: 2nd generation blockchain that allows the use of smart contracts. Bad scalability currently, though this concern could be alleviated by the soon to be implemented Lightning Network aka Plasma and its Sharding concept.
  2. EOS: Promising technology that wants to be able do everything, from smart contracts like Ethereum, scalability similar to Nano with 1000 tx/second + near instant transactions and zero fees, to also wanting to be a platform for dapps. However, EOS doesn't have a product yet and everything is just promises still. Highly overvalued right now. However, there are lots of red flags, have dumped $500 million Ether over the last 2 months and possibly bought back EOS to increase the size of their ICO, which has been going on for over a year and has raised several billion dollars. All in all, their market cap is way too high for that and not even having a product.
  3. Cardano: Similar to Ethereum/EOS, however, only promises made with no delivery yet, highly overrated right now. Interesting concept though. Market cap way too high for not even having a product. Somewhat promising technology.
  4. VeChain: Singapore-based project that’s building a business enterprise platform and inventory tracking system. Examples are verifying genuine luxury goods and food supply chains. Has one of the strongest communities in the crypto world. Most hyped token of all, with merit though.
  5. Neo: Neo is a platform, similar to Eth, but more extensive, allowing dapps and smart contracts, but with a different smart contract gas system, consensus mechanism (PoS vs. dBfT), governance model, fixed vs unfixed supply, expensive contracts vs nearly free contracts, different ideologies for real world adoption. There are currently only 9 nodes, each of which are being run by a company/entity hand selected by the NEO council (most of which are located in china) and are under contract. This means that although the locations of the nodes may differ, ultimately the neo council can bring them down due to their legal contracts. In fact this has been done in the past when the neo council was moving 50 million neo that had been locked up. Also dbft (or neo's implmentation of it) has failed underload causing network outages during major icos. The first step in decentralization is that the NEO Counsel will select trusted nodes (Universities, business partners, etc.) and slowly become less centralized that way. The final step in decentralization will be allowing NEO holders to vote for new nodes, similar to a DPoS system (ARK/EOS/LISK). NEO has a regulation/government friendly ideology. Finally they are trying to work undewith the Chinese government in regards to regulations. If for some reason they wanted it shut down, they could just shut it down.
  6. Stellar: PoS system, similar goals as Ripple, but more of a platform than only a currency. 80% of Stellar are owned by Stellar.org still, making the currency centralized.
  7. Ethereum classic: Original Ethereum that decided not to fork after a hack. The Ethereum that we know is its fork. Uninteresing, because it has a lot of less resources than Ethereum now and a lot less community support.
  8. Ziliqa: Zilliqa is building a new way of sharding. 2400 tpx already tested, 10,000 tps soon possible by being linearly scalable with the number of nodes. That means, the more nodes, the faster the network gets. They are looking at implementing privacy as well.
  9. QTUM: Enables Smart contracts on the Bitcoin blockchain. Useful.
  10. Icon: Korean ethereum. Decentralized application platform that's building communities in partnership with banks, insurance providers, hospitals, and universities. Focused on ID verification and payments. No big differentiators to the other 20 Ethereums, except that is has a product. That is a plus. Maybe cheap alternative to Ethereum.
  11. LISK: Lisk's difference to other BaaS is that side chains are independent to the main chain and have to have their own nodes. Similar to neo whole allows dapps to deploy their blockchain to. However, Lisk is currently somewhat centralized with a small group of members owning more than 50% of the delegated positions. Lisk plans to change the consensus algorithm for that reason in the near future.
  12. Rchain: Similar to Ethereum with smart contract, though much more scalable at an expected 40,000 TPS and possible 100,000 TPS. Not launched yet. No product launched yet, though promising technology. Not overvalued, probably at the right price right now.
  13. ARDR: Similar to Lisk. Ardor is a public blockchain platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. A child chain, which is a ‘light’ blockchain that can be customized to a certain extent, is designed to allow easy self-deploy for your own blockchain. Nxt claims that users will "not need to worry" about security, as that part is now handled by the main chain (Ardor). This is the chief innovation of Ardor. Ardor was evolved from NXT by the same company. NEM started as a NXT clone.
  14. Ontology: Similar to Neo. Interesting coin
  15. Bytom: Bytom is an interactive protocol of multiple byte assets. Heterogeneous byte-assets (indigenous digital currency, digital assets) that operate in different forms on the Bytom Blockchain and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom.
  16. Nxt: Similar to Lisk
  17. Stratis: Different to LISK, Stratis will allow businesses and organizations to create their own blockchain according to their own needs, but secured on the parent Stratis chain. Stratis’s simple interface will allow organizations to quickly and easily deploy and/or test blockchain functionality of the Ethereum, BitShares, BitCoin, Lisk and Stratis environements.
  18. Status: Status provides access to all of Ethereum’s decentralized applications (dapps) through an app on your smartphone. It opens the door to mass adoption of Ethereum dapps by targeting the fastest growing computer segment in the world – smartphone users.16. Ark: Fork of Lisk that focuses on a smaller feature set. Ark wallets can only vote for one delegate at a time which forces delegates to compete against each other and makes cartel formations incredibly hard, if not impossible.
  19. Neblio: Similar to Neo, but 30x smaller market cap.
  20. NEM: Is similar to Neo No marketing team, very high market cap for little clarilty what they do.
  21. Bancor: Bancor is a Decentralized Liquidity Network that allows you to hold any Ethereum token and convert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet.
  22. Dragonchain: The Purpose of DragonChain is to help companies quickly and easily incorporate blockchain into their business applications. Many companies might be interested in making this transition because of the benefits associated with serving clients over a blockchain – increased efficiency and security for transactions, a reduction of costs from eliminating potential fraud and scams, etc.
  23. Skycoin: Transactions with zero fees that take apparently two seconds, unlimited transaction rate, no need for miners and block rewards, low power usage, all of the usual cryptocurrency technical vulnerabilities fixed, a consensus mechanism superior to anything that exists, resistant to all conceivable threats (government censorship, community infighting, cybenucleaconventional warfare, etc). Skycoin has their own consensus algorithm known as Obelisk written and published academically by an early developer of Ethereum. Obelisk is a non-energy intensive consensus algorithm based on a concept called ‘web of trust dynamics’ which is completely different to PoW, PoS, and their derivatives. Skywire, the flagship application of Skycoin, has the ambitious goal of decentralizing the internet at the hardware level and is about to begin the testnet in April. However, this is just one of the many facets of the Skycoin ecosystem. Skywire will not only provide decentralized bandwidth but also storage and computation, completing the holy trinity of commodities essential for the new internet. Skycion a smear campaign launched against it, though they seem legit and reliable. Thus, they are probably undervalued.

Market 3 - Ecosystem

The 3rd market with 11 coins is comprised of ecosystem coins, which aim to strengthen the ease of use within the crypto space through decentralized exchanges, open standards for apps and more
  1. Nebulas: Similar to how Google indexes webpages Nebulas will index blockchain projects, smart contracts & data using the Nebulas rank algorithm that sifts & sorts the data. Developers rewarded NAS to develop & deploy on NAS chain. Nebulas calls this developer incentive protocol – basically rewards are issued based on how often dapp/contract etc. is used, the more the better the rewards and Proof of devotion. Works like DPoS except the best, most economically incentivised developers (Bookkeeppers) get the forging spots. Ensuring brains stay with the project (Cross between PoI & PoS). 2,400 TPS+, DAG used to solve the inter-transaction dependencies in the PEE (Parallel Execution Environment) feature, first crypto Wallet that supports the Lightening Network.
  2. Waves: Decentralized exchange and crowdfunding platform. Let’s companies and projects to issue and manage their own digital coin tokens to raise money.
  3. Salt: Leveraging blockchain assets to secure cash loands. Plans to offer cash loans in traditional currencies, backed by your cryptocurrency assets. Allows lenders worldwide to skip credit checks for easier access to affordable loans.
  4. CHAINLINK: ChainLink is a decentralized oracle service, the first of its kind. Oracles are defined as an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used in smart contracts.With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain and smart contracts. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain. The difference to Aeternity is that Chainlink deploys the smart contracts on the Ethereum blockchain while Aeternity has its own chain.
  5. WTC: Combines blockchain with IoT to create a management system for supply chains Interesting
  6. Ethos unifyies all cryptos. Ethos is building a multi-cryptocurrency phone wallet. The team is also building an investment diversification tool and a social network
  7. Aion: Aion is the token that pays for services on the Aeternity platform.
  8. USDT: is no cryptocurrency really, but a replacement for dollar for trading After months of asking for proof of dollar backing, still no response from Tether.

Market 4 - Privacy

The 4th market are privacy coins. As you might know, Bitcoin is not anonymous. If the IRS or any other party asks an exchange who is the identity behind a specific Bitcoin address, they know who you are and can track back almost all of the Bitcoin transactions you have ever made and all your account balances. Privacy coins aim to prevent exactly that through address fungability, which changes addresses constantly, IP obfuscation and more. There are 2 types of privacy coins, one with completely privacy and one with optional privacy. Optional Privacy coins like Dash and Nav have the advantage of more user friendliness over completely privacy coins such as Monero and Enigma.
  1. Monero: Currently most popular privacy coin, though with a very high market cap. Since their privacy is all on chain, all prior transactions would be deanonymized if their protocol is ever cracked. This requires a quantum computing attack though. PIVX is better in that regard.
  2. Zcash: A decentralized and open-source cryptocurrency that hide the sender, recipient, and value of transactions. Offers users the option to make transactions public later for auditing. Decent privacy coin, though no default privacy
  3. Verge: Calls itself privacy coin without providing private transactions, multiple problems over the last weeks has a toxic community, and way too much hype for what they have.
  4. Bytecoin: First privacy-focused cryptocurrency with anonymous transactions. Bytecoin’s code was later adapted to create Monero, the more well-known anonymous cryptocurrency. Has several scam accusations, 80% pre-mine, bad devs, bad tech
  5. Bitcoin Private: A merge fork of Bitcoin and Zclassic with Zclassic being a fork of Zcash with the difference of a lack of a founders fee required to mine a valid block. This promotes a fair distribution, preventing centralized coin ownership and control. Bitcoin private offers the optional ability to keep the sender, receiver, and amount private in a given transaction. However, this is already offered by several good privacy coins (Monero, PIVX) and Bitcoin private doesn't offer much more beyond this.
  6. Komodo: The Komodo blockchain platform uses Komodo’s open-source cryptocurrency for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol and decentralized crowdfunding (ICO) platform to remove middlemen from project funding. Offers services for startups to create and manage their own Blockchains.
  7. PIVX: As a fork of Dash, PIVX uses an advanced implementation of the Zerocoin protocol to provide it’s privacy. This is a form of zeroknowledge proofs, which allow users to spend ‘Zerocoins’ that have no link back to them. Unlike Zcash u have denominations in PIVX, so they can’t track users by their payment amount being equal to the amount of ‘minted’ coins, because everyone uses the same denominations. PIVX is also implementing Bulletproofs, just like Monero, and this will take care of arguably the biggest weakness of zeroknowledge protocols: the trusted setup.
  8. Zcoin: PoW cryptocurrency. Private financial transactions, enabled by the Zerocoin Protocol. Zcoin is the first full implementation of the Zerocoin Protocol, which allows users to have complete privacy via Zero-Knowledge cryptographic proofs.
  9. Enigma: Monero is to Bitcoin what enigma is to Ethereum. Enigma is for making the data used in smart contracts private. More of a platform for dapps than a currency like Monero. Very promising.
  10. Navcoin: Like bitcoin but with added privacy and pos and 1,170 tps, but only because of very short 30 second block times. Though, privacy is optional, but aims to be more user friendly than Monero. However, doesn't really decide if it wants to be a privacy coin or not. Same as Zcash.Strong technology, non-shady team.
  11. Tenx: Raised 80 million, offers cryptocurrency-linked credit cards that let you spend virtual money in real life. Developing a series of payment platforms to make spending cryptocurrency easier. However, the question is if full privacy coins will be hindered in growth through government regulations and optional privacy coins will become more successful through ease of use and no regulatory hindrance.

Market 5 - Currency Exchange Tool

Due to the sheer number of different cryptocurrencies, exchanging one currency for the other it still cumbersome. Further, merchants don’t want to deal with overcluttered options of accepting cryptocurrencies. This is where exchange tool like Req come in, which allow easy and simple exchange of currencies.
  1. Cryptonex: Fiat and currency exchange between various blockchain services, similar to REQ.
  2. QASH: Qash is used to fuel its liquid platform which will be an exchange that will distribute their liquidity pool. Its product, the Worldbook is a multi-exchange order book that matches crypto to crypto, and crypto to fiat and the reverse across all currencies. E.g., someone is selling Bitcoin is USD on exchange1 not owned by Quoine and someone is buying Bitcoin in EURO on exchange 2 not owned by Quoine. If the forex conversions and crypto conversions match then the trade will go through and the Worldbook will match it, it'll make the sale and the purchase on either exchange and each user will get what they wanted, which means exchanges with lower liquidity if they join the Worldbook will be able to fill orders and take trade fees they otherwise would miss out on.They turned it on to test it a few months ago for an hour or so and their exchange was the top exchange in the world by 4x volume for the day because all Worldbook trades ran through it. Binance wants BNB to be used on their one exchange. Qash wants their QASH token embedded in all of their partners. More info here https://www.reddit.com/CryptoCurrency/comments/8a8lnwhich_are_your_top_5_favourite_coins_out_of_the/dwyjcbb/?context=3
  3. Kyber: network Exchange between cryptocurrencies, similar to REQ. Features automatic coin conversions for payments. Also offers payment tools for developers and a cryptocurrency wallet.
  4. Achain: Building a boundless blockchain world like Req .
  5. Req: Exchange between cryptocurrencies.
  6. Bitshares: Exchange between cryptocurrencies. Noteworthy are the 1.5 second average block times and throughput potential of 100,000 transactions per second with currently 2,400 TPS having been proven. However, bitshares had several Scam accusations in the past.
  7. Loopring: A protocol that will enable higher liquidity between exchanges and personal wallets.
  8. ZRX: Open standard for dapps. Open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. In 0x protocol, orders are transported off-chain, massively reducing gas costs and eliminating blockchain bloat. Relayers help broadcast orders and collect a fee each time they facilitate a trade. Anyone can build a relayer.

Market 6 - Gaming

With an industry size of $108B worldwide, Gaming is one of the largest markets in the world. For sure, cryptocurrencies will want to have a share of that pie.
  1. Storm: Mobile game currency on a platform with 9 million players.
  2. Fun: A platform for casino operators to host trustless, provably-fair gambling through the use of smart contracts, as well as creating their own implementation of state channels for scalability.
  3. Electroneum: Mobile game currency They have lots of technical problems, such as several 51% attacks
  4. Wax: Marketplace to trade in-game items

Market 7 - Misc

There are various markets being tapped right now. They are all summed up under misc.
  1. OMG: Omise is designed to enable financial services for people without bank accounts. It works worldwide and with both traditional money and cryptocurrencies.
  2. Power ledger: Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy. Unique market and rather untapped market in the crypto space.
  3. Populous: A platform that connects business owners and invoice buyers without middlemen. Invoice sellers get cash flow to fund their business and invoice buyers earn interest. Similar to OMG, small market.
  4. Monacoin: The first Japanese cryptocurrency. Focused on micro-transactions and based on a popular internet meme of a type-written cat. This makes it similar to Dogecoin. Very niche, tiny market.
  5. Revain: Legitimizing reviews via the blockchain. Interesting concept, though market not as big.
  6. Augur: Platform to forecast and make wagers on the outcome of real-world events (AKA decentralized predictions). Uses predictions for a “wisdom of the crowd” search engine. Not launched yet.
  7. Substratum: Revolutionzing hosting industry via per request billing as a decentralized internet hosting system. Uses a global network of private computers to create the free and open internet of the future. Participants earn cryptocurrency. Interesting concept.
  8. Veritaseum: Is supposed to be a peer to peer gateway, though it looks like very much like a scam.
  9. TRON: Tronix is looking to capitalize on ownership of internet data to content creators. However, they plagiarized their white paper, which is a no go. They apologized, so it needs to be seen how they will conduct themselves in the future. Extremely high market cap for not having a product, nor proof of concept.
  10. Syscoin: A cryptocurrency with a decentralized marketplace that lets people buy and sell products directly without third parties. Trying to remove middlemen like eBay and Amazon.
  11. Hshare: Most likely scam because of no code changes, most likely pump and dump scheme, dead community.
  12. BAT: An Ethereum-based token that can be exchanged between content creators, users, and advertisers. Decentralized ad-network that pays based on engagement and attention.
  13. Dent: Decentralizeed exchange of mobile data, enabling mobile data to be marketed, purchased or distributed, so that users can quickly buy or sell data from any user to another one.
  14. Ncash: End to end encrypted Identification system for retailers to better serve their customers .
  15. Factom Secure record-keeping system that allows companies to store their data directly on the Blockchain. The goal is to make records more transparent and trustworthy .

Market 8 - Social network

Web 2.0 is still going strong and Web 3.0 is not going to ignore it. There are several gaming tokens already out there and a few with decent traction already, such as Steem, which is Reddit with voting through money is a very interesting one.
  1. Mithril: As users create content via social media, they will be rewarded for their contribution, the better the contribution, the more they will earn
  2. Steem: Like Reddit, but voting with money. Already launched product and Alexa rank 1,000 Thumbs up.
  3. Rdd: Reddcoin makes the process of sending and receiving money fun and rewarding for everyone. Reddcoin is dedicated to one thing – tipping on social networks as a way to bring cryptocurrency awareness and experience to the general public.
  4. Kin: Token for the platform Kik. Kik has a massive user base of 400 million people. Replacing paying with FIAT with paying with KIN might get this token to mass adoption very quickly.

Market 9 - Fee token

Popular exchanges realized that they can make a few billion dollars more by launching their own token. Owning these tokens gives you a reduction of trading fees. Very handy and BNB (Binance Coin) has been one of the most resilient tokens, which have withstood most market drops over the last weeks and was among the very few coins that could show growth.
  1. BNB: Fee token for Binance
  2. Gas: Not a Fee token for an exchange, but it is a dividend paid out on Neo and a currency that can be used to purchase services for dapps.
  3. Kucoin: Fee token for Kucoin

Market 10 - Decentralized Data Storage

Currently, data storage happens with large companies or data centers that are prone to failure or losing data. Decentralized data storage makes loss of data almost impossible by distributing your files to numerous clients that hold tiny pieces of your data. Remember Torrents? Torrents use a peer-to-peer network. It is similar to that. Many users maintain copies of the same file, when someone wants a copy of that file, they send a request to the peer-to-peer network., users who have the file, known as seeds, send fragments of the file to the requester., he requester receives many fragments from many different seeds, and the torrent software recompiles these fragments to form the original file.
  1. Gbyte: Byteball data is stored and ordered using directed acyclic graph (DAG) rather than blockchain. This allows all users to secure each other's data by referencing earlier data units created by other users, and also removes scalability limits common for blockchains, such as blocksize issue.
  2. Siacoin: Siacoin is decentralized storage platform. Distributes encrypted files to thousands of private users who get paid for renting out their disk space. Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via "smart" storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.
  3. Maidsafecoin: MaidSafe stands for Massive Array of Internet Disks, Secure Access for Everyone.Instead of working with data centers and servers that are common today and are vulnerable to data theft and monitoring, SAFE’s network uses advanced P2P technology to bring together the spare computing capacity of all SAFE users and create a global network. You can think of SAFE as a crowd-sourced internet. All data and applications reside in this network. It’s an autonomous network that automatically sets prices and distributes data and rents out hard drive disk space with a Blockchain-based storage solutions.When you upload a file to the network, such as a photo, it will be broken into pieces, hashed, and encrypted. The data is then randomly distributed across the network. Redundant copies of the data are created as well so that if someone storing your file turns off their computer, you will still have access to your data. And don’t worry, even with pieces of your data on other people’s computers, they won’t be able to read them. You can earn MadeSafeCoins by participating in storing data pieces from the network on your computer and thus earning a Proof of Resource.
  4. Storj: Storj aims to become a cloud storage platform that can’t be censored or monitored, or have downtime. Your files are encrypted, shredded into little pieces called 'shards', and stored in a decentralized network of computers around the globe. No one but you has a complete copy of your file, not even in an encrypted form.

Market 11 - Cloud computing

Obviously, renting computing power, one of the biggest emerging markets as of recent years, e.g. AWS and Digital Ocean, is also a service, which can be bought and managed via the blockchain.
  1. Golem: Allows easy use of Supercomputer in exchange for tokens. People worldwide can rent out their computers to the network and get paid for that service with Golem tokens.
  2. Elf: Allows easy use of Cloud computing in exchange for tokens.

Market 12 - Stablecoin

Last but not least, there are 2 stablecoins that have established themselves within the market. A stable coin is a coin that wants to be independent of the volatility of the crypto markets. This has worked out pretty well for Maker and DGD, accomplished through a carefully diversified currency fund and backing each token by 1g or real gold respectively. DO NOT CONFUSE DGD AND MAKER with their STABLE COINS DGX and DAI. DGD and MAKER are volatile, because they are the companies of DGX and DAI. DGX and DAI are the stable coins.
  1. DGD: Platform of the Stablecoin DGX. Every DGX coin is backed by 1g of gold and make use proof of asset consensus.
  2. Maker: Platform of the Stablecoin DAI that doesn't vary much in price through widespread and smart diversification of assets.
EDIT: Added a risk factor from 0 to 10. The baseline is 2 for any crypto. Significant scandals, mishaps, shady practices, questionable technology, increase the risk factor. Not having a product yet automatically means a risk factor of 6. Strong adoption and thus strong scrutiny or positive community lower the risk factor.
EDIT2: Added a subjective potential factor from 0 to 10, where its overall potential and a small or big market cap is factored in. Bitcoin with lots of potential only gets a 9, because of its massive market cap, because if Bitcoin goes 10x, smaller coins go 100x, PIVX gets a 10 for being as good as Monero while carrying a 10x smaller market cap, which would make PIVX go 100x if Monero goes 10x.
submitted by galan77 to CryptoCurrency [link] [comments]

Which are your top 5 coins out of the top100? An analysis.

I am putting together my investment portfolio for 2018 and made a complete summary of the current Top 100. Interestingly, I noticed that all coins can be categorized into 12 markets. Which markets do you think will play the biggest role in the coming year?
Here is a complete overview of all coins in an excel sheet including name, a full description, market, TPS, risk profile, time since launch (negative numbers mean that they are launching that many months in the future) and market cap. You can also sort by all of these fields of course. Coins written in bold are the strongest contenders within their market either due to having the best technology or having a small market cap and still excellent technology and potential. https://docs.google.com/spreadsheets/d/1s8PHcNvvjuy848q18py_CGcu8elRGQAUIf86EYh4QZo/edit#gid=0
The 12 markets are
  1. Currency 13 coins
  2. Platform 25 coins
  3. Ecosystem 9 coins
  4. Privacy 9 coins
  5. Currency Exchange Tool 8 coins
  6. Gaming & Gambling 4 coins
  7. Misc 15 coins
  8. Social Network 4 coins
  9. Fee Token 3 coins
  10. Decentralized Data Storage 4 coins
  11. Cloud Computing 2 coins
  12. Stable Coin 3 coins
Before we look at the individual markets, we need to take a look of the overall market and its biggest issue, scalability, first:
Cryptocurrencies aim to be a decentralized currency that can be used worldwide. Their goal is to replace dollar, Euro, Yen, all FIAT currencies globally. The coin that will achieve that will be worth several trillion dollars.
Bitcoin can only process 7 transactions per second (TPS) currently. In order to replace all FIAT, it would need to perform at least at VISA levels, which usually processes around 3,000 TPS, up to 25,000 TPS during peak times and a maximum of 64,000 TPS. That means that this cryptocurrency would need to be able to perform at least several thousand TPS. However, a ground breaking technology should not look at current technology to set a goal for its use, i.e. estimating the number of emails sent in 1990 based on the number of faxes sent wasn’t a good estimate.
For that reason, 10,000 TPS is the absolute baseline for a cryptocurrency that wants to replace FIAT. This brings me to IOTA, which wants to connect all 80 billion IoT devices that are expected to exist by 2025, which constantly communicate with each other, possibly creating 80 billion or more transactions per second. This is the benchmark that cryptocurrencies should be aiming for. Currently, 8 billion devices are connected to the Internet.
With its Lightning network recently launched, Bitcoin is realistically looking at 50,000 possible TPS soon. Other notable cryptocurrencies besides IOTA and Bitcoin are Nano with 7,000 TPS already tested, Dash with several billion TPS possible with Masternodes, Neo, LISK and RHOC with 100,000 TPS by 2020, Ripple with 50,000 TPS, Ethereum with 10,000 TPS with Sharding.
However, it needs to be said that scalability usually goes at the cost of decentralization and security. So, it needs to be seen, which of these technologies can prove themselves decentralized while maintaining high TPS.
Without further ado, here are the coins of the first market. Each market is sorted by market cap.

Market 1 - Currency:

  1. Bitcoin: 1st generation blockchain with currently bad scalability, though the implementation of the Lightning Network looks promising and could alleviate most scalability and high energy use concerns.
  2. Ripple: Centralized currency that might become very successful due to tight involvement with banks and cross-border payments for financial institutions; banks and companies like Western Union and Moneygram (who they are currently working with) as customers customers. However, it seems they are aiming for more decentralization now.https://ripple.com/dev-blog/decentralization-strategy-update/. Has high TPS due to Proof of Correctness algorithm.
  3. Bitcoin Cash: Bitcoin fork with the difference of having an 8 times bigger block size, making it 8 times more scalable than Bitcoin currently. Further block size increases are planned. Only significant difference is bigger block size while big blocks lead to further problems that don't seem to do well beyond a few thousand TPS. Opponents to a block size argue that increasing the block size limit is unimaginative, offers only temporary relief, and damages decentralization by increasing costs of participation. In order to preserve decentralization, system requirements to participate should be kept low. To understand this, consider an extreme example: very big blocks (1GB+) would require data center level resources to validate the blockchain. This would preclude all but the wealthiest individuals from participating.Community seems more open than Bitcoin's though.
  4. Litecoin : Little brother of Bitcoin. Bitcoin fork with different mining algorithm but not much else.Copies everything that Bitcoin does pretty much. Lack of real innovation.
  5. Dash: Dash (Digital Cash) is a fork of Bitcoin and focuses on user ease. It has very fast transactions within seconds, low fees and uses Proof of Service from Masternodes for consensus. They are currently building a system called Evolution which will allow users to send money using usernames and merchants will find it easy to integrate Dash using the API. You could say Dash is trying to be a PayPal of cryptocurrencies. Currently, cryptocurrencies must choose between decentralization, speed, scalability and can pick only 2. With Masternodes, Dash picked speed and scalability at some cost of decentralization, since with Masternodes the voting power is shifted towards Masternodes, which are run by Dash users who own the most Dash.
  6. IOTA: 3rd generation blockchain called Tangle, which has a high scalability, no fees and instant transactions. IOTA aims to be the connective layer between all 80 billion IOT devices that are expected to be connected to the Internet in 2025, possibly creating 80 billion transactions per second or 800 billion TPS, who knows. However, it needs to be seen if the Tangle can keep up with this scalability and iron out its security issues that have not yet been completely resolved.
  7. Nano: 3rd generation blockchain called Block Lattice with high scalability, no fees and instant transactions. Unlike IOTA, Nano only wants to be a payment processor and nothing else, for now at least. With Nano, every user has their own blockchain and has to perform a small amount of computing for each transaction, which makes Nano perform at 300 TPS with no problems and 7,000 TPS have also been tested successfully. Very promising 3rd gen technology and strong focus on only being the fastest currency without trying to be everything.
  8. Decred: As mining operations have grown, Bitcoin’s decision-making process has become more centralized, with the largest mining companies holding large amounts of power over the Bitcoin improvement process. Decred focuses heavily on decentralization with their PoW Pos hybrid governance system to become what Bitcoin was set out to be. They will soon implement the Lightning Network to scale up. While there do not seem to be more differences to Bitcoin besides the novel hybrid consensus algorithm, which Ethereum, Aeternity and Bitcoin Atom are also implementing, the welcoming and positive Decred community and professoinal team add another level of potential to the coin.
  9. Bitcoin Atom: Atomic Swaps and hybrid consenus. This looks like the only Bitcoin clone that actually is looking to innovate next to Bitcoin Cash.
  10. Dogecoin: Litecoin fork, fantastic community, though lagging behind a bit in technology.
  11. Bitcoin Gold: A bit better security than bitcoin through ASIC resistant algorithm, but that's it. Not that interesting.
  12. Digibyte: Digibyte's PoS blockchain is spread over a 100,000+ servers, phones, computers, and nodes across the globe, aiming for the ultimate level of decentralization. DigiByte’s adoption over the past four years has been slow. The DigiByte website offers a lot of great marketing copy and buzzwords. However, there’s not much technical information about what they have planned for the future. You could say Digibyte is like Bitcoin, but with shorter blocktimes and a multi-algorithm. However, that's not really a difference big enough to truly set themselves apart from Bitcoin, since these technologies could be implemented by any blockchain without much difficulty. Their decentralization is probably their strongest asset, however, this also change quickly if the currency takes off and big miners decide to go into Digibyte.
  13. Bitcoin Diamond Asic resistant Bitcoin and Copycat

Market 2 - Platform

Most of the cryptos here have smart contracts and allow dapps (Decentralized apps) to be build on their platform and to use their token as an exchange of value between dapp services.
  1. Ethereum: 2nd generation blockchain that allows the use of smart contracts. Bad scalability currently, though this concern could be alleviated by the soon to be implemented Lightning Network aka the Raiden Network, Plasma and its Sharding concept.
  2. EOS: Promising technology that wants to be able do everything, from smart contracts like Ethereum, scalability similar to Nano with 1000 tx/second + near instant transactions and zero fees, to also wanting to be a platform for dapps. However, EOS doesn't have a product yet and everything is just promises still. There are lots of red flags, e.g. having dumped $500 million Ether over the last 2 months and possibly bought back EOS to increase the size of their ICO, which has been going on for over a year and has raised several billion dollars. All in all, their market cap is way too high for that and not even having a product. However, Mainnet release is in 1 month, which could change everything.
  3. Cardano: Similar to Ethereum/EOS, however, only promises made with no delivery yet, highly overrated right now. Interesting concept though. Market cap way too high for not even having a product. Somewhat promising technology.
  4. VeChain: Singapore-based project that’s building a business enterprise platform and inventory tracking system. Examples are verifying genuine luxury goods and food supply chains. Has one of the strongest communities in the crypto world. Most hyped token of all, with merit though.
  5. Neo: Neo is a platform, similar to Eth, but more extensive, allowing dapps and smart contracts, but with a different smart contract gas system, consensus mechanism (PoS vs. dBfT), governance model, fixed vs unfixed supply, expensive contracts vs nearly free contracts, different ideologies for real world adoption. There are currently only 9 nodes, each of which are being run by a company/entity hand selected by the NEO council (most of which are located in china) and are under contract. This means that although the locations of the nodes may differ, ultimately the neo council can bring them down due to their legal contracts. In fact this has been done in the past when the neo council was moving 50 million neo that had been locked up. Also dbft (or neo's implmentation of it) has failed underload causing network outages during major icos. The first step in decentralization is that the NEO Counsel will select trusted nodes (Universities, business partners, etc.) and slowly become less centralized that way. The final step in decentralization will be allowing NEO holders to vote for new nodes, similar to a DPoS system (ARK/EOS/LISK). NEO has a regulation/government friendly ideology. Finally they are trying to work undewith the Chinese government in regards to regulations. If for some reason they wanted it shut down, they could just shut it down.
  6. Stellar:PoS system, similar goals as Ripple, but more of a platform than only a currency. 80% of Stellar are owned by Stellar.org still, making the currency centralized.
  7. Ethereum classic: Original Ethereum that decided not to fork after a hack. The Ethereum that we know is its fork. Uninteresing, because it has a lot of less resources than Ethereum now and a lot less community support.
  8. Ziliqa: Zilliqa is building a new way of sharding. 2400 tpx already tested, 10,000 tps soon possible by being linearly scalable with the number of nodes. That means, the more nodes, the faster the network gets. They are looking at implementing privacy as well.
  9. QTUM: Enables Smart contracts on the Bitcoin blockchain. Useful.
  10. Icon: Korean ethereum. Decentralized application platform that's building communities in partnership with banks, insurance providers, hospitals, and universities. Focused on ID verification and payments.
  11. LISK: Lisk's difference to other BaaS is that side chains are independent to the main chain and have to have their own nodes. Similar to neo whole allows dapps to deploy their blockchain to. Like most cryptocurrencies, Lisk is currently somewhat centralized with a small group of members owning more than 50% of the delegated positions. Lisk plans to change the consensus algorithm for that reason in the near future.
  12. Rchain: Similar to Ethereum with smart contract, though much more scalable at an expected 40,000 TPS and possible 100,000 TPS. Not launched yet. No product launched yet, though promising technology. Not overvalued, probably at the right price right now.
  13. ARDR: Similar to Lisk. Ardor is a public blockchain platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. A child chain, which is a ‘light’ blockchain that can be customized to a certain extent, is designed to allow easy self-deploy for your own blockchain. Nxt claims that users will "not need to worry" about security, as that part is now handled by the main chain (Ardor). This is the chief innovation of Ardor. Ardor was evolved from NXT by the same company. NEM started as a NXT clone.
  14. Ontology: Similar to Neo. Interesting coin
  15. Bytom: Bytom is an interactive protocol of multiple byte assets. Heterogeneous byte-assets (indigenous digital currency, digital assets) that operate in different forms on the Bytom Blockchain and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom.
  16. Nxt: Similar to Lisk
  17. Aeternity: We’ve seen recently, that it’s difficult to scale the execution of smart contracts on the blockchain. Crypto Kitties is a great example. Something as simple as creating and trading unique assets on Ethereum bogged the network down when transaction volume soared. Ethereum and Zilliqa address this problem with Sharding. Aeternity focuses on increasing the scalability of smart contracts and dapps by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts. State channels are lines of communication between parties in a smart contract. They don’t touch the blockchain unless they need to for adjudication or transfer of value. Because they’re off-chain, state channel contracts can operate much more efficiently. An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams. Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Aeternity’s network runs on on a hybrid of proof of work and proof of stake. Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov. Promising concept though not product yet
  18. Stratis: Different to LISK, Stratis will allow businesses and organizations to create their own blockchain according to their own needs, but secured on the parent Stratis chain. Stratis’s simple interface will allow organizations to quickly and easily deploy and/or test blockchain functionality of the Ethereum, BitShares, BitCoin, Lisk and Stratis environements.
  19. Status: Status provides access to all of Ethereum’s decentralized applications (dapps) through an app on your smartphone. It opens the door to mass adoption of Ethereum dapps by targeting the fastest growing computer segment in the world – smartphone users.
  20. Ark: Fork of Lisk that focuses on a smaller feature set. Ark wallets can only vote for one delegate at a time which forces delegates to compete against each other and makes cartel formations incredibly hard, if not impossible.
  21. Neblio: Similar to Neo, but at a 30x smaller market cap.
  22. NEM: Is similar to Neo. However, it has no marketing team, very high market cap for little clarilty what they do.
  23. Bancor: Bancor is a Decentralized Liquidity Network that allows you to hold any Ethereum token and convert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet.
  24. Dragonchain: The Purpose of DragonChain is to help companies quickly and easily incorporate blockchain into their business applications. Many companies might be interested in making this transition because of the benefits associated with serving clients over a blockchain – increased efficiency and security for transactions, a reduction of costs from eliminating potential fraud and scams, etc.
  25. Skycoin: Transactions with zero fees that take apparently two seconds, unlimited transaction rate, no need for miners and block rewards, low power usage, all of the usual cryptocurrency technical vulnerabilities fixed, a consensus mechanism superior to anything that exists, resistant to all conceivable threats (government censorship, community infighting, cybenucleaconventional warfare, etc). Skycoin has their own consensus algorithm known as Obelisk written and published academically by an early developer of Ethereum. Obelisk is a non-energy intensive consensus algorithm based on a concept called ‘web of trust dynamics’ which is completely different to PoW, PoS, and their derivatives. Skywire, the flagship application of Skycoin, has the ambitious goal of decentralizing the internet at the hardware level and is about to begin the testnet in April. However, this is just one of the many facets of the Skycoin ecosystem. Skywire will not only provide decentralized bandwidth but also storage and computation, completing the holy trinity of commodities essential for the new internet. Skycion a smear campaign launched against it, though they seem legit and reliable. Thus, they are probably undervalued.

Market 3 - Ecosystem

The 3rd market with 11 coins is comprised of ecosystem coins, which aim to strengthen the ease of use within the crypto space through decentralized exchanges, open standards for apps and more
  1. Nebulas: Similar to how Google indexes webpages Nebulas will index blockchain projects, smart contracts & data using the Nebulas rank algorithm that sifts & sorts the data. Developers rewarded NAS to develop & deploy on NAS chain. Nebulas calls this developer incentive protocol – basically rewards are issued based on how often dapp/contract etc. is used, the more the better the rewards and Proof of devotion. Works like DPoS except the best, most economically incentivised developers (Bookkeeppers) get the forging spots. Ensuring brains stay with the project (Cross between PoI & PoS). 2,400 TPS+, DAG used to solve the inter-transaction dependencies in the PEE (Parallel Execution Environment) feature, first crypto Wallet that supports the Lightening Network.
  2. Waves: Decentralized exchange and crowdfunding platform. Let’s companies and projects to issue and manage their own digital coin tokens to raise money.
  3. Salt: Leveraging blockchain assets to secure cash loands. Plans to offer cash loans in traditional currencies, backed by your cryptocurrency assets. Allows lenders worldwide to skip credit checks for easier access to affordable loans.
  4. CHAINLINK: ChainLink is a decentralized oracle service, the first of its kind. Oracles are defined as an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used in smart contracts.With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain and smart contracts. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain. The difference to Aeternity is that Chainlink deploys the smart contracts on the Ethereum blockchain while Aeternity has its own chain.
  5. WTC: Combines blockchain with IoT to create a management system for supply chains Interesting
  6. Ethos unifyies all cryptos. Ethos is building a multi-cryptocurrency phone wallet. The team is also building an investment diversification tool and a social network
  7. Komodo: The Komodo blockchain platform uses Komodo’s open-source cryptocurrency for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol and decentralized crowdfunding (ICO) platform to remove middlemen from project funding. Offers services for startups to create and manage their own Blockchains.
  8. Aion: Today, there are hundreds of blockchains. In the coming years, with widespread adoption by mainstream business and government, these will be thousands or millions. Blockchains don’t talk to each other at all right now, they are like the PCs of the 1980s. The Aion network is able to support custom blockchain architectures while still allowing for cross-chain interoperability by enabling users to exchange data between any Aion-compliant blockchains by making use of an interchain framework that allows for messages to be relayed between blockchains in a completely trust-free manner.
  9. Tenx: Raised 80 million, offers cryptocurrency-linked credit cards that let you spend virtual money in real life. Developing a series of payment platforms to make spending cryptocurrency easier.

Market 4 - Privacy

The 4th market are privacy coins. As you might know, Bitcoin is not anonymous. If the IRS or any other party asks an exchange who is the identity behind a specific Bitcoin address, they know who you are and can track back almost all of the Bitcoin transactions you have ever made and all your account balances. Privacy coins aim to prevent exactly that through address fungability, which changes addresses constantly, IP obfuscation and more. There are 2 types of privacy coins, one with completely privacy and one with optional privacy. Optional Privacy coins like Dash and Nav have the advantage of more user friendliness over completely privacy coins such as Monero and Enigma.
  1. Monero: Currently most popular privacy coin, though with a very high market cap. Since their privacy is all on chain, all prior transactions would be deanonymized if their protocol is ever cracked. This requires a quantum computing attack though. PIVX is better in that regard.
  2. Zcash: A decentralized and open-source cryptocurrency that hide the sender, recipient, and value of transactions. Offers users the option to make transactions public later for auditing. Decent privacy coin, though no default privacy
  3. Verge: Calls itself privacy coin without providing private transactions, multiple problems over the last weeks has a toxic community, and way too much hype for what they have.
  4. Bytecoin: First privacy-focused cryptocurrency with anonymous transactions. Bytecoin’s code was later adapted to create Monero, the more well-known anonymous cryptocurrency. Has several scam accusations, 80% pre-mine, bad devs, bad tech
  5. Bitcoin Private: A merge fork of Bitcoin and Zclassic with Zclassic being a fork of Zcash with the difference of a lack of a founders fee required to mine a valid block. This promotes a fair distribution, preventing centralized coin ownership and control. Bitcoin private offers the optional ability to keep the sender, receiver, and amount private in a given transaction. However, this is already offered by several good privacy coins (Monero, PIVX) and Bitcoin private doesn't offer much more beyond this.
  6. PIVX: As a fork of Dash, PIVX uses an advanced implementation of the Zerocoin protocol to provide it’s privacy. This is a form of zeroknowledge proofs, which allow users to spend ‘Zerocoins’ that have no link back to them. Unlike Zcash u have denominations in PIVX, so they can’t track users by their payment amount being equal to the amount of ‘minted’ coins, because everyone uses the same denominations. PIVX is also implementing Bulletproofs, just like Monero, and this will take care of arguably the biggest weakness of zeroknowledge protocols: the trusted setup.
  7. Zcoin: PoW cryptocurrency. Private financial transactions, enabled by the Zerocoin Protocol. Zcoin is the first full implementation of the Zerocoin Protocol, which allows users to have complete privacy via Zero-Knowledge cryptographic proofs.
  8. Enigma: Monero is to Bitcoin what enigma is to Ethereum. Enigma is for making the data used in smart contracts private. More of a platform for dapps than a currency like Monero. Very promising.
  9. Navcoin: Like bitcoin but with added privacy and pos and 1,170 tps, but only because of very short 30 second block times. Though, privacy is optional, but aims to be more user friendly than Monero. However, doesn't really decide if it wants to be a privacy coin or not. Same as Zcash.Strong technology, non-shady team.

Market 5 - Currency Exchange Tool

Due to the sheer number of different cryptocurrencies, exchanging one currency for the other it still cumbersome. Further, merchants don’t want to deal with overcluttered options of accepting cryptocurrencies. This is where exchange tool like Req come in, which allow easy and simple exchange of currencies.
  1. Cryptonex: Fiat and currency exchange between various blockchain services, similar to REQ.
  2. QASH: Qash is used to fuel its liquid platform which will be an exchange that will distribute their liquidity pool. Its product, the Worldbook is a multi-exchange order book that matches crypto to crypto, and crypto to fiat and the reverse across all currencies. E.g., someone is selling Bitcoin is USD on exchange1 not owned by Quoine and someone is buying Bitcoin in EURO on exchange 2 not owned by Quoine. They turned it on to test it a few months ago for an hour or so and their exchange was the top exchange in the world by 4x volume for the day because all Worldbook trades ran through it. Binance wants BNB to be used on their one exchange. Qash wants their QASH token embedded in all of their partners.
  3. Kyber: network Exchange between cryptocurrencies, similar to REQ. Features automatic coin conversions for payments. Also offers payment tools for developers and a cryptocurrency wallet.
  4. Achain: Building a boundless blockchain world like Req .
  5. Centrality: Centrality is a decentralized market place for dapps that are all connected together on a blockchain-powered system. Centrality aims to allow businesses to work together using blockchain technology. With Centrality, startups can collaborate through shared acquisition of customers, data, merchants, and content. That shared acquisition occurs across the Centrality blockchain, which hosts a number of decentralized apps called Scenes. Companies can use CENTRA tokens to purchase Scenes for their app, then leverage the power of the Centrality ecosystem to quickly scale. Some of Centrality's top dapps are, Skoot, a travel experience marketplace that consists of a virtual companion designed for free independent travelers and inbound visitors, Belong, a marketplace and an employee engagement platform that seems at helping business provide rewards for employees, Merge, a smart travel app that acts as a time management system, Ushare, a transports application that works across rental cars, public transport, taxi services, electric bikes and more. All of these dapps are able to communicate with each other and exchange data through Centrality.
  6. Bitshares: Exchange between cryptocurrencies. Noteworthy are the 1.5 second average block times and throughput potential of 100,000 transactions per second with currently 2,400 TPS having been proven. However, Bitshares had several Scam accusations in the past.
  7. Loopring: A protocol that will enable higher liquidity between exchanges and personal wallets by pooling all orders sent to its network and fill these orders through the order books of multiple exchanges. When using Loopring, traders never have to deposit funds into an exchange to begin trading. Even with decentralized exchanges like Ether Delta, IDex, or Bitshares, you’d have to deposit your funds onto the platform, usually via an Ethereum smart contract. But with Loopring, funds always remain in user wallets and are never locked by orders. This gives you complete autonomy over your funds while trading, allowing you to cancel, trim, or increase an order before it is executed.
  8. ZRX: Open standard for dapps. Open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. In 0x protocol, orders are transported off-chain, massively reducing gas costs and eliminating blockchain bloat. Relayers help broadcast orders and collect a fee each time they facilitate a trade. Anyone can build a relayer.

Market 6 - Gaming

With an industry size of $108B worldwide, Gaming is one of the largest markets in the world. For sure, cryptocurrencies will want to have a share of that pie.
  1. Storm: Mobile game currency on a platform with 9 million players.
  2. Fun: A platform for casino operators to host trustless, provably-fair gambling through the use of smart contracts, as well as creating their own implementation of state channels for scalability.
  3. Electroneum: Mobile game currency They have lots of technical problems, such as several 51% attacks
  4. Wax: Marketplace to trade in-game items

Market 7 - Misc

There are various markets being tapped right now. They are all summed up under misc.
  1. OMG: Omise is designed to enable financial services for people without bank accounts. It works worldwide and with both traditional money and cryptocurrencies.
  2. Power ledger: Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy. Unique market and rather untapped market in the crypto space.
  3. Populous: Populous is a platform that connects business owners and invoice buyers without middlemen. Furthermore, it is a peer-to-peer (P2P) platform that uses blockchain to provide small and medium-sized enterprises (SMEs) a more efficient way to participate in invoice financing. Businesses can sell their outstanding invoices at a discount to quickly free up some cash. Invoice sellers get cash flow to fund their business and invoice buyers earn interest.
  4. Monacoin: The first Japanese cryptocurrency. Focused on micro-transactions and based on a popular internet meme of a type-written cat. This makes it similar to Dogecoin. Very niche, tiny market.
  5. Revain: Legitimizing reviews via the blockchain. Interesting concept, though market not as big.
  6. Augur: Platform to forecast and make wagers on the outcome of real-world events (AKA decentralized predictions). Uses predictions for a “wisdom of the crowd” search engine. Not launched yet.
  7. Substratum: Revolutionzing hosting industry via per request billing as a decentralized internet hosting system. Uses a global network of private computers to create the free and open internet of the future. Participants earn cryptocurrency. Interesting concept.
  8. Veritaseum: Is supposed to be a peer to peer gateway, though it looks like very much like a scam.
  9. TRON: Tronix is looking to capitalize on ownership of internet data to content creators. However, they plagiarized their white paper, which is a no go. They apologized, so it needs to be seen how they will conduct themselves in the future. Extremely high market cap for not having a product, nor proof of concept.
  10. Syscoin: A cryptocurrency with a decentralized marketplace that lets people buy and sell products directly without third parties. Trying to remove middlemen like eBay and Amazon.
  11. Hshare: Most likely scam because of no code changes, most likely pump and dump scheme, dead community.
  12. BAT: An Ethereum-based token that can be exchanged between content creators, users, and advertisers. Decentralized ad-network that pays based on engagement and attention.
  13. Dent: Decentralizeed exchange of mobile data, enabling mobile data to be marketed, purchased or distributed, so that users can quickly buy or sell data from any user to another one.
  14. Ncash: End to end encrypted Identification system for retailers to better serve their customers .
  15. Factom Secure record-keeping system that allows companies to store their data directly on the Blockchain. The goal is to make records more transparent and trustworthy .

Market 8 - Social network

Web 2.0 is still going strong and Web 3.0 is not going to ignore it. There are several gaming tokens already out there and a few with decent traction already, such as Steem, which is Reddit with voting through money is a very interesting one.
  1. Mithril: As users create content via social media, they will be rewarded for their contribution, the better the contribution, the more they will earn
  2. Steem: Like Reddit, but voting with money. Already launched product and Alexa rank 1,000 Thumbs up.
  3. Rdd: Reddcoin makes the process of sending and receiving money fun and rewarding for everyone. Reddcoin is dedicated to one thing – tipping on social networks as a way to bring cryptocurrency awareness and experience to the general public.
  4. Kin: Token for the platform Kik. Kik has a massive user base of 400 million people. Replacing paying with FIAT with paying with KIN might get this token to mass adoption very quickly.

Market 9 - Fee token

Popular exchanges realized that they can make a few billion dollars more by launching their own token. Owning these tokens gives you a reduction of trading fees. Very handy and BNB (Binance Coin) has been one of the most resilient tokens, which have withstood most market drops over the last weeks and was among the very few coins that could show growth.
  1. BNB: Fee token for Binance
  2. Gas: Not a Fee token for an exchange, but it is a dividend paid out on Neo and a currency that can be used to purchase services for dapps.
  3. Kucoin: Fee token for Kucoin

Market 10 - Decentralized Data Storage

Currently, data storage happens with large companies or data centers that are prone to failure or losing data. Decentralized data storage makes loss of data almost impossible by distributing your files to numerous clients that hold tiny pieces of your data. Remember Torrents? Torrents use a peer-to-peer network. It is similar to that. Many users maintain copies of the same file, when someone wants a copy of that file, they send a request to the peer-to-peer network., users who have the file, known as seeds, send fragments of the file to the requester. The requester receives many fragments from many different seeds, and the torrent software recompiles these fragments to form the original file.
  1. Gbyte: Byteball data is stored and ordered using directed acyclic graph (DAG) rather than blockchain. This allows all users to secure each other's data by referencing earlier data units created by other users, and also removes scalability limits common for blockchains, such as blocksize issue.
  2. Siacoin: Siacoin is decentralized storage platform. Distributes encrypted files to thousands of private users who get paid for renting out their disk space. Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via "smart" storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.
  3. Maidsafecoin: MaidSafe stands for Massive Array of Internet Disks, Secure Access for Everyone.Instead of working with data centers and servers that are common today and are vulnerable to data theft and monitoring, You can think of SAFE as a crowd-sourced internet. It’s an autonomous network that automatically sets prices and distributes data and rents out hard drive disk space with a Blockchain-based storage solutions.When you upload a file to the network, such as a photo, it will be broken into pieces, hashed, and encrypted. Then, redundant copies of the data are created as well so that if someone storing your file turns off their computer, you will still have access to your data. And don’t worry, even with pieces of your data on other people’s computers, they won’t be able to read them. You can earn MadeSafeCoins by participating in storing data pieces from the network on your computer and thus earning a Proof of Resource.
  4. Storj: Storj aims to become a cloud storage platform that can’t be censored or monitored, or have downtime. Your files are encrypted, shredded into little pieces called 'shards', and stored in a decentralized network of computers around the globe. No one but you has a complete copy of your file, not even in an encrypted form.

Market 11 - Cloud computing

Obviously, renting computing power, one of the biggest emerging markets as of recent years, e.g. AWS and Digital Ocean, is also a service, which can be bought and managed via the blockchain.
  1. Golem: Allows easy use of Supercomputer in exchange for tokens. People worldwide can rent out their computers to the network and get paid for that service with Golem tokens.
  2. Elf: Allows easy use of Cloud computing in exchange for tokens.

Market 12 - Stablecoin

Last but not least, there are 2 stablecoins that have established themselves within the market. A stable coin is a coin that wants to be independent of the volatility of the crypto markets. This has worked out pretty well for Maker and DGD, accomplished through a carefully diversified currency fund and backing each token by 1g or real gold respectively. DO NOT CONFUSE DGD AND MAKER with their STABLE COINS DGX and DAI. DGD and MAKER are volatile, because they are the companies of DGX and DAI. DGX and DAI are the stable coins.
  1. DGD: Platform of the Stablecoin DGX. Every DGX coin is backed by 1g of gold and make use proof of asset consensus.
  2. Maker: Platform of the Stablecoin DAI that doesn't vary much in price through widespread and smart diversification of assets.
  3. USDT: is no cryptocurrency really, but a replacement for dollar for trading After months of asking for proof of dollar backing, still no response from Tether.
EDIT: Added a risk factor from 0 to 10. Significant scandals, mishaps, shady practices, questionable technology, increase the risk factor. Not having a product yet automatically means a risk factor of 6. Strong adoption and thus strong scrutiny or positive community lower the risk factor.
EDIT2: Added a subjective potential factor from 0 to 10, where its overall potential and a small or big market cap is factored in. Bitcoin with lots of potential only gets a 9, because of its massive market cap, because if Bitcoin goes 10x, smaller coins go 100x.
submitted by galan77 to ethtrader [link] [comments]

Which Are Your Top 5 Platforms Out Of The Top100? An Analysis.

There are currently a lot of platforms, more specifically, there are 35 platforms within the Top100 only and many do very similar things. How is one supposed to know how they differ? That was the question that I asked myself.
So, I decided to compare all platforms within the Top100. I noticed that they can be put into into 5 different categories. Note: A platform is a cryptocurrency that offers smart contracts at least.
  1. Dapps platforms - 12
  2. BaaS - 11
  3. Liquidity - 2
  4. Misc - 7
  5. Behemoths -3
Here are all platforms in an excel spread sheet in their categories with a description: https://docs.google.com/spreadsheets/d/1s8PHcNvvjuy848q18py_CGcu8elRGQAUIf86EYh4QZo/edit#gid=268170779
In order to find out which one is the best platform in each market currently and made sure to be strict with every platform and point out their flaws.
Let's look at the 5 markets.

1) Dapps platforms

Dapps platforms are definitely a solid bet for the next years. Besides Ethereum, Neo, EOS and Stellar are probably the most known here, however, all 4 are simply extremely centralized and would need to completely change their architecture to become more decentralized. Until that happens, none of these platform can really be considered as a platform with good technology, since everyone can achieve high scalability by letting a few hundred nodes do the consensus algorithm. There is nothing difficult about that. The difficulty is achieving several million TPS with 100,000 nodes deciding consensus.
Cardano, Aeternity are the only ones that seem to be able to maintain excellent decentralization with high scalability, because they scale through side-chains/horizontally.
All platforms considered, Ethereum seems to be on the way there as well with its change to Casper.
  1. Cardano has a great team, has probably the most secure PoS that was peer-reviewed in a scientific approach, has their mainnet launched, has near infinite scalability through sidechains and offers broad usability of Smart contracts in a number of programming languages.
  2. Ethereum is a 2nd generation blockchain that allows the use of smart contracts and dapps on a smaller scope. Ethereum currently has bad scalability, though this concern could be alleviated by the soon to be implemented Sharding concept and its new PoS/PoW consensus algorithm Casper. Still, there are platforms with much more comprehensive dapp ecosystems, and much more scalability. However, Ethereum just closed a partnership with AWS. This is probalby the biggest partnership in the cryptosphere. Though, in order to be better than any of the top 3 platforms, it would need to provide Oracles, a lot more functionality for dapps, partnerships, decentralized data storage, cloud computing.
  3. Neblio is similar to NEO and a good platform, though it has a much smaller market cap.
  4. EOS has high scalability, though is much more centralized than Skycoin, Elastos and Cardano. However, it offers a lot of functionality for Dapps. EOS is overhyped. It is on the same level as Neblio, Neo, Aeternity, but not on the same level as Skycoin, Elastos, IOTA, Cardano.
  5. NEO is a very established platform in this category.However, Neo dapps scale on-chain and can thus clog the network quickly. For that reason, NEO had to pick a very centralized approach to maintain scalability and it looking to rely on hand-picked nodes to maintain scalability in the future, very similar to EOS also very centralized approach of 121 handpicked nodes.
  6. Stellar has similar goals as Ripple, only that it is more a platform than only a currency, so it does offer more functionality. . Stellar uses Byzantine Fault Tolerance in the consensus protocol, which ensures secure consensus can be reached (moving the blockchain forward) even if a large percentage of nodes are disabled or acting dishonestly. It also helps keep nodes distributed. Stellar is a good platform with tight involvement with banks. While it doesn't have as much functionality as all above platforms, it can probably carve out its niche by doing really good business with banks.
  7. Aeternity: We’ve seen recently, that it’s difficult to scale the execution of smart contracts on the blockchain. Crypto Kitties is a great example. Something as simple as creating and trading unique assets on Ethereum bogged the network down when transaction volume soared. Ethereum and Zilliqa address this problem with Sharding. Aeternity focuses on increasing the scalability of smart contracts and dapps by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts. State channels are lines of communication between parties in a smart contract. They don’t touch the blockchain unless they need to for adjudication or transfer of value. Because they’re off-chain, state channel contracts can operate much more efficiently. They don’t need to pay the network for every time they compute and can also operate with greater privacy. An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams. Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Of course, the data source could still be hacked, so Aeternity implements a prediction market where users can bet on the accuracy and honesty of incoming data from various oracles.It also uses prediction markets for various voting and verification purposes within the platform. Aeternity’s network runs on on a hybrid of proof of work and proof of stake. Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov.
  8. IOST: To improve speed and scalability, IOStoken uses a Proof of Believability consensus mechanism eliminating the need for an energy-hungry proof-of-work protocol, which stands as a barrier to blockchain scaling up for widespread adoption. With this system, a node is validated based on its past contributions and behaviors. Moreover, to increase fairness and to most fully embrace the decentralized nature of the blockchain, IOS uses a “fairness” algorithm that randomly distributes data to various nodes. It’s intended to support service-oriented goods and services with large customer bases. Decentralized applications and smart contracts, the hallmarks of blockchain platforms, are a priority for IOS as well.
  9. Request Network: Req payments can be used for online purchases, business to business invoices, escrow, advanced payments and eventually IoT payments between machines. Other than payments, the Request Network is also tackling auditing and budget transparency. Businesses have the ability to track invoices to audit payments as well as record transactions for accounting purposes. Governments, nonprofits, and other organizations can also use Request to bring transparency to their budget and expenditures.
  10. Rchain: Similar to Ethereum with smart contracts, though much more scalable at an expected 40,000 TPS and possible 100,000 TPS. However, Rchain has not launched ye..
  11. Ziliqa: Zilliqa is building a new way of sharding, so that 10,000 tps are soon possible by being linearly scalable with the number of nodes. That means, the more nodes, the faster the network gets. They are looking at implementing privacy as well.Rchain is an ok platform.
  12. Ethereum classic is the original Ethereum that decided not to fork after a hack for philosophical reasons. The Ethereum that we know is its fork.

2) BaaS (Blockchain-as-a-Service)

BaaS take a different route to adoption than mere Dapps platforms. They are also dapp platforms, but focus on businesses (B2B) instead of end-users (B2C) within the cryptosphere. They sell their blockchain services to companies, who then can build their own customizable blockchain as a side-chain to the BaaS without hassle and worry about technology or blockchain architecture. This is all handled by the BaaS company already and the customer only needs to change a few variables and they have their own blockchain. Side-chains are interesting, because they allow virtually infinite scaling, since there can be an infinite number of side-chains that only communicate with the main-chain occasionally and handle the majority of transactions on their own chain. This is also called horizontal scaling.
The success of a BaaS platform largely depends on its ability to close partnerships to sell to large businesses and having the best usability. The more contracts they can sell to businesses and institutions, the more valuable it will be. For that reason, the BaaS with the best ability to form partnerships and do sales will win this market. Technology isn't as important here. Of course, the platform has to work without bugs, but having a platform with outstanding technology, average usability and average marketing will lose against a platform with average technology, great usability and great marketing.
  1. VeChain is a Singapore-based project that’s building a business enterprise platform and inventory tracking system. . While it is not really competing with the above mentioned platforms, any of them can build supply management tools into their platform and compete with VeChain. However, VeChain has very strong partnerships. This gives them some protection of any of the above mentioned entering the market. Examples are verifying genuine luxury goods and food supply chains. VeChain has one of the strongest communities in the crypto world. If you are looking for something more high risk, high return, have a look into Ambrosus and Devery(Eve). Both also seem to be good at building partnerships, which is the most important characteristic for a supply chain platform required to succeed.
  2. Icon is called the Korean Ethereum. However, it specializes more on building customizable blockchains for banks, insurance providers, hospitals, and universities, since it's a BaaS. Icon has a focus on on ID verification and payments. Icon is ery close behind Vechain, because with Samsung and Line.
  3. WTC is a supply chain management platform, similar to Vechain, however, with fewer partnerships.
  4. Komodo’s open-source platform is for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol and decentralized crowdfunding (ICO) platform to remove middlemen from project funding. Offers services for startups to create and manage their own Blockchains. While it doesn't have as many partnerships as other BaaS, it is the only BaaS that offers privacy so far. However, that's. it such a bug competitive advantage, since it can be replicated rather swiftly.
  5. NEM: The NEM blockchain powers what they call the Smart Asset System. This system is intended to be an open, customizable blockchain solution for any number of use cases built on top of simple, powerful API calls. NEM started as a NXT fork and introduced a new consensus mechanism called Proof of Importance (PoI), designed to reward users’ contribution to the XEM community. It is roughly based on proof-of-stake, but it also reflects how active a user is in transacting with other users. POW rewards powerful computers and also requires excessive amounts of energy. POS gives an unfair advantage to coin hoarders. The more coins they keep in their accounts, the more they earn, meaning that the rich get richer and everyone has an incentive to save coins instead of spending them.
  6. Ark is a fork of Lisk, which is doubling down on a smaller feature set than Lisk. Ark is a good BaaS, though it doesn't have many partnerships. Furthermore, they haven't launched their platform yet.
  7. Dragonchain: The Purpose of DragonChain is to help companies quickly and easily incorporate blockchain into their business applications. Many companies might be interested in making this transition because of the benefits associated with serving clients over a blockchain – increased efficiency and security for transactions, a reduction of costs from eliminating potential fraud and scams, etc. Dragonchain is a good BaaS, though it doesn't have many partnerships. However, it was funded by Disney, so it might be able to get partnerships more easy.
  8. LISK: Lisk's difference to other BaaS is that side chains are independent to the main chain and have to have their own nodes. Similar to neo whole allows dapps to deploy their blockchain too. Lisk is a good BaaS, though it doesn't have many partnerships. Furthermore, they haven't launched their platform yet.
  9. Stratis: Different to LISK, Stratis will allow businesses and organizations to create their own blockchain according to their own needs, but secured on the parent Stratis chain. Stratis’s simple interface will allow organizations to quickly and easily deploy and/or test blockchain functionality of the Ethereum, BitShares, BitCoin, Lisk and Stratis environements.Stratis is similar to Lisk, but also doesn't have many partnerships
  10. ARDR: Ardor is a public blockchain platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. A child chain, which is a ‘light’ blockchain that can be customized to a certain extent, is designed to allow easy self-deploy for your own blockchain. Nxt claims that users will "not need to worry" about security, as that part is now handled by the main chain (Ardor). This is the chief innovation of Ardor. Ardor was evolved from NXT by the same company. NEM started as a NXT clone.
  11. Bytom: Bytom is an interactive protocol of multiple financial assets ( digital currency, digital assets warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom.

3) Liquidity

There are really only 2 platforms in the Liquidity market, albeit the Liquidity market could be one of the biggest markets with insitutional investors entering the cryptoworld soon, since there is very little liquidity in Bitcoin. For example, say a pension fund wants to buy or sell $10B in Bitcoins. No single exchange has that many Bitcoins available and it would wreak havoc on the market. This wouldn't be a problem with Liquidity platforms, since they pull all order books together and back up market liquidity with FIAT money among other things.
  1. QASH is used to fuel its liquid platform which will be an exchange that will distribute their liquidity pool. Its product, the Worldbook is a multi-exchange order book that matches crypto to crypto, and crypto to fiat and the reverse across all currencies. E.g., someone is selling Bitcoin is USD on exchange1 not owned by Quoine and someone is buying Bitcoin in EURO on exchange 2 not owned by Quoine. If the forex conversions and crypto conversions match then the trade will go through and the Worldbook will match it, it'll make the sale and the purchase on either exchange and each user will get what they wanted, which means exchanges with lower liquidity if they join the Worldbook will be able to fill orders and take trade fees they otherwise would miss out on.They turned it on to test it a few months ago for an hour or so and their exchange was the top exchange in the world by 4x volume for the day because all Worldbook trades ran through it. Binance wants BNB to be used on their one exchange. Qash wants their QASH token embedded in all of their partners. More info here https://www.reddit.com/CryptoCurrency/comments/8a8lnwhich_are_your_top_5_favourite_coins_out_of_the/dwyjcbb/?context=3Qash is doing something completely different as the above mentioned. It offers liquidity in an illiquid market. Sell shovels during a gold rush.
  2. Loopring is similar to Qash, only that it functions as a dezentralized exchange, while QASH is more of an API without a user interface. It is a protocol that will enable higher liquidity between exchanges and personal wallets by pooling all orders sent to its network and fill these orders through the order books of multiple exchanges. When using Loopring, traders never have to deposit funds into an exchange to begin trading. Even with decentralized exchanges like Ether Delta, IDex, or Bitshares, you’d have to deposit your funds onto the platform, usually via an Ethereum smart contract. But with Loopring, funds always remain in user wallets and are never locked by orders. This gives you complete autonomy over your funds while trading, allowing you to cancel, trim, or increase an order before it is executed.

4) Misc

These are platforms that are focused on a specialized functionality
  1. Nebulas: Similar to how google indexes webpages Nebulas will index blockchain projects, smart contracts & data using the Nebulas rank algorithm that sifts & sorts the data. Developers rewarded NAS to develop & deploy on NAS chain. Nebulas calls this developer incentive protocol – basically rewards are issued based on how often dapp/contract etc. is used, the more the better the rewards and Proof of devotion. Works like DPoS except the best, most economically incentivised developers (Bookkeepers) get the forging spots. Ensuring brains stay with the project (Cross between PoI & PoS). 2,400 TPS+, DAG used to solve the inter-transaction dependencies in the PEE (Parallel Execution Environment) feature, first crypto Wallet that supports the Lightening Network.Nebulas is the only one doing what it's doing. This makes them very unique and a good investment.
  2. Centrality is a decentralized market place for dapps that are all connected together on a blockchain-powered system. Centrality aims to allow businesses to work together using blockchain technology. With Centrality, startups can collaborate through shared acquisition of customers, data, merchants, and content. That shared acquisition occurs across the Centrality blockchain, which hosts a number of decentralized apps called Scenes. Companies can use CENTRA tokens to purchase Scenes for their app, then leverage the power of the Centrality ecosystem to quickly scale. Some of Centrality's top dapps are, Skoot, a travel experience marketplace that consists of a virtual companion designed for free independent travelers and inbound visitors, Belong, a marketplace and an employee engagement platform that seems at helping business provide rewards for employees, Merge, a smart travel app that acts as a time management system, Ushare, a transports application that works across rental cars, public transport, taxi services, electric bikes and more. All of these dapps are able to communicate with each other and exchange data through Centrality. Centrality is the only one doing what it's doing. This makes them very unique and a good investment.
  3. Salt: Leveraging blockchain assets to secure cash loans. Plans to offer cash loans in traditional currencies, backed by your cryptocurrency assets. Allows lenders worldwide to skip credit checks for easier access to affordable loans.Salt is a good lending platform. However, there is also Elixir, a better investment with a 30x smaller market cap, but also strong technology. Elixir has such a low market cap, because they didn't have an ICO and they only focused on development and no marketing. As of last week, they started marketing.
  4. Aion: Today, there are hundreds of blockchains. In the coming years, those hundreds will become thousands and—with ,widespread adoption by mainstream business and government—millions. Blockchains don’t talk to each other at all right now, they are like the PCs of the 1980s. The Aion network is able to support custom blockchain architectures while still allowing for cross-chain interoperability by enabling users to exchange data between any Aion-compliant blockchains by making use of an interchain framework that allows for messages to be relayed between blockchains in a completely trust-free manner.
  5. Waves is a decentralized exchange and crowdfunding platform by letting companies and projects to issue and manage their own digital coin tokens to raise money.
  6. ChainLink is a decentralized oracle service, the first of its kind. Oracles are defined as an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used in smart contracts.With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain and smart contracts. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain. The difference to Aeternity is that Chainlink deploys the smart contracts on the Ethereum blockchain. Chainlink's main functionality is oracles, a functionality also offered by IOTA.
  7. QTUM: Smart Contracts on the Bitcoin blockchain. QTUM is a smart contracts for BTC, a very niche market. Furthermore, BTC might offer smart contracts itself soon and make QTUM obsolete. Hopefully QTUM will expand into more smart contracts functionality to become relevant again.
Nebulas with Indexing the Blockchain world and Salt with Lending are probably the 2 most interesting platforms here. Nebulas doesn't have a single competitor, though there are several competitors to Salt with a much smaller market cap and with similar development progress, ELIX.

5) Behemoths

There are 3 platforms that have not been discussed yet. However, they can do most what the above platforms can do and have the potential to steal the market of all above mentioned platforms. That's why I call them behemoths.
1.) Skycoin :Skycoin is building what Pied Piper is building in the series HBO's Silicon Valley, a completely decentralized internet that is not run by ISPs, but by IoT devices, making telecom providers like Comcast, ISPs who can control bandwith, cost, net neutrality, filters, access etc. obsolete and completely decentralize them. Skycoin offers what 36 coins are offering:
  1. 12 Scalable Currency (Bitcoin, Ripple, Bitcoin Cash, Litecoin, Dash, Bitcoin Gold, Nano, Bitcoin Diamond, Dogecoin, Digibyte, Decred, Bitcoin Atom)
  2. 10 Smart Contract and Dapps platforms (Cardano, Ethereum, Neblio, EOS, Stellar, Neo, Rchain, IOST, Ziliqa, Eth classic)
  3. 10 BaaS (VeChain, Icon, WTC, Ontology, Komodo, NEM, Ark, Dragonchain, LISK, Stratis).
  4. 4 Decentralized Storage (Siacoin, Maidsafe, Gybte, Storj)
If you think that the decentralized Internet will blow all other markets out of the water and will be the biggest invention of this decade, then Skycoin is your pick, because covers that and what 27 coins do.
2.) IOTA: With the launch of Q 1 week ago, IOTA is about to offer what 27 platforms within the Top 100 are offering (!) and they are probably looking to replace several more.
  1. 12 Scalable Currency (Bitcoin, Ripple, Bitcoin Cash, Litecoin, Dash, Bitcoin Gold, Nano, Bitcoin Diamond, Dogecoin, Digibyte, Decred, Bitcoin Atom.)
  2. 10 Smart Contract and Dapps platforms (Cardano, Ethereum, Neblio, EOS, Stellar, Neo, Rchain, IOST, Ziliqa, Eth classic)
  3. 2 Oracles (Aeternity, ChainLink)
  4. 3 Outsourced Cloud Computing (DBC, Aelf, Golem)
IOTA is at the same level as Skycoin and Elastos. However, SKY's flagship product is the Decentralized Internet and ELA's is the most comprehensive dapps operating system in the cryptosphere, which IOTA cannot really replicate in the near future, because it takes years of reseach and development. This protects ELA and SKY from IOTA for now.
However, it looks like IOTA can snatch up all the smaller, easier to replicate markets, such as cloud computing, oracles, smart contracts, decentralized storage, currency exchange and soon possibly also supply chain management, BaaS functionality, privacy, security identification since none of those are really hard to build. However, Skycoin and Elastos will probably focus on their flagships and leave IOTA to scoop up all the rest. It will be an interesting year.
3.) Elastos started out as a mobile operating system 18 years ago and has now moved towards a smart contracts platform, operating system and a runtime environment for Dapps. Thanks to side-chains they are near infinitely scalable and is thus also very decentralized. Elastos is offering what 36 coins are offering
  1. 12 Scalable Currency (Bitcoin, Ripple, Bitcoin Cash, Litecoin, Dash, Bitcoin Gold, Nano, Bitcoin Diamond, Dogecoin, Digibyte, Decred, Bitcoin Atom.)
  2. 10 Smart Contract and Dapps platforms (Cardano, Ethereum, Neblio, EOS, Stellar, Neo, Rchain, IOST, Ziliqa, Eth classic)
  3. 10 BaaS (VeChain, Icon, WTC, Ontology, Komodo, NEM, Ark, Dragonchain, LISK, Stratis).
  4. 4 Decentralized Storage (Siacoin, Maidsafe, Gybte, Storj)
If you are very convinced that BaaS solutions and dapps platforms will be the big winners for 2018, then Elastos is your pick as far as I can see, because it is probably the best BaaS and dapps platform with near infinite scalability and the best decentralization and thus does what 32 coins do.
3 Closing Questions
All of the above findings leave me with those 3 questions. What are your thoughts?
  1. Why invest in any of Dapps platforms (Cardano, Neblio, EOS, Stellar, Neo, Aeternity, Rchain, IOST, Ziliqa, Ethereum, Eth classic) when Elastos and Skycoin do everything they do, are much more decentralized and scalable through side-chain/off-chain/horizontal scaling and offer lots more functionality beyond that?
  2. Why invest in any BaaS (Ontology, Komodo, NEM, Ark ,Dragonchain, LISK, Stratis, ARDR) if ICX and VeChain offer everything what all of the above offer and already have 10x more partnerships than their competitors?
  3. It looks like out of all 35 platforms, only 5 are really strong: IOTA, Skycoin, Elastos, VeChain, ICX. While the first 3 seem to cover already almost half of the top 100, the last 2 really convince in the partnership department. What's the argument for investing in any of the 30 other platforms? Maybe that they can specialise on a specific feature set, however, is this really a convincing argument? The cryptoworld is harsh and if you can't keep up with competition, you'll be moved out of the market quickly.
submitted by galan77 to CryptoMarkets [link] [comments]

Overview of Major Risks of Buying Nyancoins - Version 5

This is the fifth version of the NYAN risks document (based on v4 (v3 , v2 and original). These are obsoleted periodically as the old ones get archived to allow for comments again via a new post, to re-examine the risks in light of changes, and for greater visibility.
The purpose of these documents is to provide a best-effort discussion of major risk factors in gambling on NYAN, modeled on the risks disclosure in a 10k (annual report) which is mandated for publicly traded companies in the United States. This document is provided with no guarantee that major risk factors have not been missed, and it is important to recognize my (coinaday) personal bias from holding about one-third of the total supply of NYAN.
Please comment on any risks which are not mentioned here or additional aspects of risks here you think should be further emphasized or any other possible disclosure you think would be helpful to a person considering gambling on NYAN.
Executive summary
Nyancoins have no core developer at the moment, uncertain demand, are traded actively on only one exchange, have had inconsistent blocks, are very vulnerable to 51% attacks, have the potential for serious bugs, an uncertain legal situation, concentrated ownership, low liquidity, depend upon the Internet, may be addictive, and could make you wealthy, which has been alleged to lead to more problems.
Introduction: This is my best attempt to collect every major risk factor from buying Nyancoins, although I can offer no warranty of fitness for this information for any purposes. I believe in honesty and forthrightness. Having this available and obvious is a simple matter of basic decency. Much, hopefully all, of this information has been discussed previously in /nyancoins, but this document in particular is about being up-to-date and central. This page will be updated clearly as appropriate if situations change on a best-effort basis (which may mean updates do not happen for months at times, unfortunately; please ping for faster updates).
If you believe that I am missing something, please note any other major risks you see in the comments.
Core developer: Although we have good general tech support in this community and have put up supporting infrastructure, there is not anyone officially currently working on core client code. This is a significant problem for the long-term, although we are not in any immediate known need of changes.
ImASharkRawwwr has returned to the community and may do future client updates, but I'm leaving the lack of core developer risk unchanged until there is an update released. This is not intended as a slight in any way but merely being cautious in the risks document and recognizing that we aren't certain when or if there will be a next release.
Demand: NYAN was introduced in 2014 and during the second half of that year had so little demand that it almost died out. In January 2015 I got involved in the coin and for most of 2015 and 2016 I was the majority of the buying pressure. I base these statements on my recollection of the trading history so far and the fact that I have acquired more than 120 million coins, somewhere around 41% of the coins (latest hodling report, June 2017), as well as my observations that I had usually had the leading major bid, and usually the leading bid regardless of size.
In 2017, I have generally not been a major factor in the demand, as I haven’t had money to spare to gamble on NYAN. In June 2017, we have had a spike in buying from an unknown source.
It is unknown whether significant demand for NYAN will continue. Because its value is purely speculative, it is entirely possible that demand for NYAN could simply end. This is a fundamental risk in gambling on NYAN; it is entirely possible that its value will go to zero and not recover.
Exchanges:
Trade Satoshi is currently the only exchange for Nyancoins with significant volume. If Trade Satoshi were to fail somehow, it is likely that this would have significant consequences for Nyancoins.
Previously we traded on Cryptopia and prior to that on Cryptsy. Both exchanges failed. This is a further reminder that exchanges are a major risk and one should be extremely careful to not keep more coins on there than one can comfortably afford to lose.
In theory, there are decentralized exchange technologies, notably CATE; however, I think we currently lack some needed APIs for this. I'm not certain but we haven't demonstrated the capability yet. On-Reddit exchanges are also possible with tipbots, but require trust as they are not atomic. It should be possible to build an "exchangebot" similarly, although I'm not currently aware of one, but my concept would still have the bot as a trusted central party.
Atomic cross-chain transactions seem to me like a very promising core technology ultimately for building exchanges which can be more proveably secure. They could also allow exchanges to share a common listing protocol as well without having to trust the other exchanges (at least, beyond the core protocol development and maintenance; tanstaafl). This is not yet accomplished though and in the meantime we remain vulnerable to periodic exchange failures.
Inconsistent blocks:
Although NYAN is designed to produce a block every minute, there have been times where there has been more than 24 hours between blocks. This results because of an imperfect difficulty function and low base hashing, along with price fluctuations, which can combine to have a low difficulty making the coin attractive for a flood of hashing power which can lead the difficulty function to overcompensate, leaving it stuck with a high difficulty no longer profitable to mine.
I haven’t observed this lately, that is, I don’t recall incidents of this in 2017, but I’ve been paying far less attention to it as well. It is entirely possible for this to recur, as the difficulty function is not fixed (it would require a hard fork to fix it). We seem to have more baseline hashing which helps to avoid this, but it is possible for us to lose that.
A workaround is to use large transaction fees (I've set my client to 337 NYAN) which is enough to cause pools to generally solve a block even if the chain were otherwise stuck. It may be possible to include a better difficulty function in a hard fork client, but it is unknown when if ever this would be done and it's not yet clear what design improvement if any would fix this.
51% attack: Because of the generally quite low hashing power on NYAN, it is highly vulnerable to a 51% attack. Either a leading pool or a new one could choose to do a denial-of-service attack, whether for extortion, lulz, or some other reason (like coinaday being annoying). Such an attack is capable of preventing any transaction processing for as long as it is sustained. I consider this a relatively low risk since I expect we would simply wait it out (and potentially not even notice such an attack for quite a while given the low volume of transactions currently), but it is definitely a potential vulnerability.
Bugs: It is possible that there are bugs in the underlying code. I have never read through all of the bitcoin or nyancoin code, of any version, nor even studied the original bitcoin whitepaper in depth (by the way, we oughta make up a nyancoin whitepaper or ten someday), meaning I have no professional or technical knowledge about whether or not the system is fundamentally sound. I've been going based on "it seems to be working, so it's probably fine", which is, shall we say, more of an engineering than scientific approach.
I have heard reference to a "time warp" bug vulnerability in the KGW difficulty function which Nyancoins has. I do not know details and my understanding is a fix to this would require a fork to change the difficulty function, so I do not anticipate a fix before NYAN3, the term for an eventual hard fork, but it is unknown when if ever this would be done. I consider this vulnerability to be likely to be related to the fundamental weakness to difficulty spikes after large amounts of hashing jumps on the network. Hostile (or simply passing interest with large capacity) hashing does degrade the performance of the network. As a workaround, this class of attack can be mitigated with a transaction to 'unstick' the chain after, since the difficulty function will adjust in the next block after enough wall-time has passed since the last block (so only need one high difficulty solve which can be triggered by a transaction fee).
Legal: Bitcoin faces uncertain legal situations in almost every country. Nyancoin is even more uncertain, as people tend to consider bitcoin and not address impacts on altcoins. Between the potential tax implications and banking regulations and currency laws, there are a wide variety of ways a person could make a felony-level mistake. This can be somewhat mitigated by merely buying and holding, as you won't be responsible for KYC/AML presumably (although an argument could be made in your purchase), and presumably unrealized capital gains wouldn't be taxable (but I am neither a lawyer nor accountant nor any sort of expert on the relevant accounting laws in any country).
Somehow getting legal opinions for Nyancoins in every country would be very useful in my opinion. If Bitcoin and altcoins are well-studied in a given country it should be relatively easy to adapt those opinions and research to Nyancoins, but it would still require some pro bono work in any case. So...hopefully we'll get some lawyer Nekonauts someday who are willing to semi-officially give us an opinion. In the meantime...hope that common sense can save you. If you sell Nyancoins directly, you're going to need to comply with the KYC/AML types of laws of your country. If you're going to do banking operations...may the central bank have mercy on your soul.
I think the best advantage we have is the same bitcoin had for its first years: we're too small for anyone to care. But since we plan to grow significantly, we need to be aware of our legal issues upon scale. Which is to say, whether or not you're allowed to sell 10,000 NYAN to your friend probably has a lot to do with whether your friend legally acquired whatever is being offered in exchange, and whether the value of what you get in return is above a certain level or not. I'm not going to try guessing that level precisely because I know I'll be wrong. $1 is probably fine. $10,000 is probably illegal without some significant licensing. I would suggest either not touching fiat or else deliberately capping it without verification after getting an independent local expert legal opinion.
concentration: The fact that I hold about 41%(? not sure the exact percentage as of Dec 2017 ; need to do updated survey to check; 41% sounds slightly high to me but I'll see...I'll try to update by the end of the year or shortly after) of the currently outstanding NYAN could be a major risk factor, particularly if I do not act in the best long-term interests of the strength of Nyancoins. For instance, I could pull my bids, sell only a small part of my holdings, crash the market, and potentially buy a lot of volume for a lower price. While I cannot foresee any circumstance under which I would do this, it is certainly conceivable that I could be financially, legally, or morally obligated to do so if I were to become insolvent.
Liquidity: There is very little trading activity in NYAN. Therefore, large purchases will drive the price up and large sales will drive the price down. This means that entering and exiting a position is likely to result in "slippage", so even if the price has increased slightly overall since the time before one entered a position to the time before one exits it, it is quite possible that the overall trade will be neutral or negative as a result of the pressure on the market. For an extreme example, my own position would be essentially impossible to exit from the market without crashing the price, and even so it would likely be difficult to find buyers even at a satoshi, based on that I currently am the majority of the bids on the market. This is closely tied to the concentration risk but if I were to exit NYAN for any reason or simply fail to continue to renew bids the liquidity would dry up even further.
Internet outage: if the Internet goes down, we hit a very nasty scenario. We can't process transactions, and all the miners go into a race to make 'useless' blocks on their own. If the Internet were never to come back up, Nyancoins would be dead. If there is a daylong internet outage, the longest blockchain discovered after, presumably representing the most hashing power dedicated to empty blocks during that outage, will win. So I suppose the block rewards in that case are for having the faith in Nyancoins to keep hashing and storing the blockchain during the day without the Internet.
addictive: This was a curiosity to me when I started. Now it's an obsession for me. I'm constantly thinking about how I can help to smooth the path for Nyancoins to grow stronger and better and more valuable. You may find that once you start to realize the impact you can have upon Nyancoins, and that Nyancoins can have upon you, that you start to become addicted as well. It is possible to substitute another addiction in its place, such as dogecoins or pcp, but it is not recommended.
Nyancoin addictions are considered 'mostly harmless'. The exception is if you go 'full coinaday' and start to accumulate more than 10% of your assets in Nyancoins. In this, this is essentially a variety of gambling addiction. I would argue that it beats roulette because you can tilt the odds in your favor, but then, I would argue that, wouldn't I?
mo' nyan mo' problems: Some people have claimed that more money leads to more problems. Since nyan is money, it follows as a consequence of the conjecture. Should this be the case, your increasing nyan could potentially lead to such problems in the future as: enhanced attention from revenue collection services of all kinds (governmental and private), swarms of fake friends and gold-diggers, excessive risk-taking as a result of feelings of invincibility, an increase in certain varieties of targeted marketing, possible disqualification for asset-based welfare for you (or even your children, for instance college financial assistance), an inability to remember how many houses you own, or other serious problems.
Conclusion
There are a variety of different risks in buying Nyancoins. I believe the most serious one is the developer issue. If those of us who have found or come back to NYAN abandon it, it could die. Otherwise, I consider the risks generally manageable, but exchange failure or a currently unknown bug could do serious damage to the ecosystem as well.
This self-certified infallible message has been brought to you as a Public Service Announcement of the NYAN Public Relations Council, a transparent front organization of notoriously lovable philanthropist and major NYAN hodler coinaday.
submitted by coinaday to nyancoins [link] [comments]

How do I mine Dogecoin?

How do I mine Dogecoin?
Let’s take a lucky guess that you’re here today because you’ve heard a lot about cryptocurrencies and you want to get involved, right? If you’re a community person, Dogecoin mining might be the perfect start for you!
Bitcoin was the first in 2009, and now there are hundreds of cryptocurrencies. These new coins (that operate on their own native blockchain) are called altcoins or alternative coins. One popular altcoin is Dogecoin. It can be bought, sold and traded, just like Bitcoin. It can also be mined!
So, what is Dogecoin mining?
You’ll know what hardware and what software you need to get started. You’ll also know whether or not Dogecoin mining is for you!
So, where would you like to start? The beginning? Great choice. Let’s have a quick look at how Dogecoin got started.
A (Very) Short History of Dogecoin
In 2013, an Australian named Jackson Palmer and an American named Billy Markus became friends. They became friends because they both liked cryptocurrencies. However, they also thought the whole thing was getting too serious so they decided to create their own.
Palmer and Markus wanted their coin to be more fun and more friendly than other crypto coins. They wanted people who wouldn’t normally care about crypto to get involved.
They decided to use a popular meme as their mascot — a Shiba Inu dog.

https://preview.redd.it/rymnyyz1iil31.png?width=303&format=png&auto=webp&s=f138e3fe56eef9c6b0e7f49b84fefc41fb83e5aa
Dogecoin was launched on December 6th, 2013. Since then it has become popular because it’s playful and good-natured. Just like its mascot!
Dogecoin has become well-known for its use in charitable acts and online tipping. In 2014, $50,000 worth of Dogecoin was donated to the Jamaican Bobsled Team so they could go to the Olympics. Dogecoin has also been used to build wells in Kenya. Isn’t that awesome!
Users of social platforms – like Reddit – can use Dogecoin to tip or reward each other for posting good content.
Dogecoin has the 27th largest market cap of any cryptocurrency.
Note: A market cap (or market capitalization) is the total value of all coins on the market.
So, Dogecoin is a popular altcoin, known for being fun, friendly and kind. It’s a coin with a dog on it! You love it already, don’t you?
Next, I want to talk about how mining works…
What is Mining?
To understand mining, you first need to understand how cryptocurrencies work. Cryptocurrencies are peer-to-peer digital currencies. This means that they allow money to be transferred from one person to another without using a bank.
Every cryptocurrency transaction is recorded on a huge digital database called a blockchain. The database is stored across thousands of computers called nodes. Nodes put together groups of new transactions and add them to the blockchain. These groups are called blocks.
Each block of transactions has to be checked by all the nodes on the network before being added to the blockchain. If nodes didn’t check transactions, people could pretend that they have more money than they really do (I know I would!).
Confirming transactions (mining) requires a lot of computer power and electricity so it’s quite expensive.
Blockchains don’t have paid employees like banks, so they offer a reward to users who confirm transactions. The reward for confirming new transactions is new cryptocurrency. The process of being rewarded with new currency for confirming transactions is what we call “mining”!

https://preview.redd.it/rcut2jx3iil31.png?width=598&format=png&auto=webp&s=8d78d41c764f4fe4e6386da4f40a66556a873b87
It is called mining because it’s a bit like digging for gold or diamonds. Instead of digging with a shovel for gold, you’re digging with your computer for crypto coins!
Each cryptocurrency has its own blockchain. Different ways of mining new currency are used by different coins where different rewards are offered.
So, how do you mine Dogecoin? What’s special about Dogecoin mining? Let’s see…
What is Dogecoin Mining?
Dogecoin mining is the process of being rewarded with new Dogecoin for checking transactions on the Dogecoin blockchain. Simple, right? Well no, it’s not quite that simple, nothing ever is!
Mining Dogecoin is like a lottery. To play the lottery you have to do some work. Well, actually your computer (or node) has to do some work! This work involves the confirming and checking of transactions which I talked about in the last section.
Lots of computers work on the same block of transactions at the same time but the only one can win the reward of new coins. The one that earns the new coins is the node that adds the new block of transactions to the old block of transactions. This is completed using complex mathematical equations.
The node that solves the mathematical problem first wins! It can then attach the newly confirmed block of transactions to the rest of the blockchain.
Most cryptocurrency mining happens this way. However, Dogecoin mining differs from other coins in several important areas. These areas are;
  • Algorithm: Each cryptocurrency has a set of rules for mining new currency. These rules are called a mining or hashing algorithm.
  • Block Time: This is the average length of time it takes for a new block of transactions to be checked and added to the blockchain.
  • Difficulty: This is a number that represents how hard it is to mine each new block of currency. You can use the difficulty number to work out how likely you are to win the mining lottery. Mining difficulty can go up or down depending on how many miners there are. The difficulty is also adjusted by the coin’s protocol to make sure that the block time stays the same.
  • Reward: This is the amount of new currency that is awarded to the miner of each new block.
Now, let’s compare how DogeCoin mining works compared to Litecoin and Bitcoin…
Mining Comparison
Bitcoin uses SHA-256 to guide the mining of new currency and the other two use Scrypt. This is an important difference because Scrypt mining needs a lot less power and is a lot quicker than SHA-256. This makes mining easier for miners with less powerful computers. Fans of Litecoin and Dogecoin think that they are fairer than Bitcoin because more people can mine them.
Note: In 2014, Litecoin and Dogecoin merged mining. This means they made it possible to mine both coins in the same process. Dogecoin mining is now linked with Litecoin mining. It’s like two different football teams playing home games in the same stadium!
Mining Dogecoin is a lot faster than mining Litecoin or Bitcoin. The block reward is much higher too!
Don’t get too excited though (sorry!). Dogecoin is still worth a lot less than Bitcoin and Litecoin. A reward of ten thousand Dogecoin is worth less than thirty US Dollars. A reward of 12.5 Bitcoin is currently worth 86,391.63 US Dollars!
However, it’s not as bad as it sounds. Dogecoin mining difficulty is more than one million times less than Bitcoin mining difficulty. This means you are much more likely to win the block reward when you mine Dogecoin.
Now I’ve told you about what Dogecoin mining is and how it works, would you like to give it a try?
Let’s see what you need to do to become a Dogecoin miner…
How to Mine Dogecoin
There are two ways to mine Dogecoin, solo (by yourself) or in a Dogecoin mining pool.
Note: A Dogecoin pool is a group of users who share their computing power to increase the odds of winning the race to confirm transactions. When one of the nodes in a pool confirms a transaction, it divides the reward between the users of the pool equally.
Dogecoin Mining: Solo vs Pool
When you mine as a part of a Dogecoin pool, you have to pay fees. Also, when the pool mines a block you will only receive a small portion of the total reward. However, pools mine blocks much more often than solo miners. So, your chance of earning a reward (even though it is shared) is increased. This can provide you with a steady new supply of Dogecoin.
If you choose to mine solo then you risk waiting a long time to confirm a transaction because there is a lot of competition. It could be weeks or even months before you mine your first block! However, when you do win, the whole reward will be yours. You won’t have to share it or pay any fees.
As a beginner, I would recommend joining a Dogecoin pool. This way you won’t have to wait as long to mine your first block of new currency. You’ll also feel like you’re part of the community and that’s what Dogecoin is all about!
What You Need To Start Mining Dogecoin
Before you start Dogecoin mining, you’ll need a few basics. They are;
  • A PC with either Windows, OS X or Linux operating system.
  • An internet connection
  • A Shiba Inu puppy (just kidding!)
You’ll also need somewhere to keep the Dogecoin you mine. Go to Dogecoin’s homepage and download a wallet.
Note: A wallet is like an email account. It has a public address for sending/receiving Dogecoin and a private key to access them. Your private keys are like your email’s password. Private keys are very important and need to be kept completely secure.
There are two different types; a light wallet and a full wallet. To mine Dogecoin, you’ll need the full wallet. It’s called Dogecoin Core.
Now that you’ve got a wallet, you need some software and hardware.
Dogecoin Mining Hardware
You can mine Dogecoin with;
  • Your PC’s CPU: The CPU in your PC is probably powerful enough to mine Dogecoin. However, it is not recommended. Mining can cause less powerful computers to overheat which causes damage.
  • A GPU: GPUs (or graphics cards) are used to improve computer graphics but they can also be used to mine Dogecoin. There are plenty of GPUs to choose from but here are a few to get you started;SAPPHIRE Pulse Radeon RX 580 ($426.98)Nvidia GeForce GTX ($579.99)ASUS RX Vega 64 ($944.90)
  • A Scrypt ASIC Miner: This is a piece of hardware designed to do one job only. Scrypt ASIC miners are programmed to mine scrypt based currencies like Litecoin and Dogecoin. ASIC miners are very powerful. They are also very expensive, very loud and can get very hot! Here’s a few for you to check out;Innosilicon A2 Terminator ($760)Bitmain Antminer L3 ($1,649)BW L21 Scrypt Miner ($7,700)
Dogecoin Mining Software
Whether you’re mining with an ASIC, a GPU or a CPU, you’ll need some software to go with it. You should try to use the software that works best with the hardware you’re using. Here’s a short list of the best free software for each choice of mining hardware;
  • CPU: If you just want to give mining a quick try, using your computer’s CPU will work fine. The only software I would recommend for mining using a CPU only is CPU miner which you can download for free here.
  • GPU: If you mine with a GPU there are more software options. Here are a few to check out;CudaMiner– Works best with Nvidia products.CGminer– Works with most GPU hardware.EasyMiner– User-friendly, so it’s good for beginners.
  • Scrypt ASIC miner:MultiMiner– Great for mining scrypt based currencies like Litecoin and Dogecoin. It can also be used to mine SHA-256 currencies like Bitcoin.CGminer and EasyMiner can also be used with ASIC miners.
Recommendations
You’re a beginner, so keep it simple! When you first start mining Dogecoin I would recommend using a GPU like the Radeon RX 580 with EasyMiner software. Then I would recommend joining a Dogecoin mining pool. The best pools to join are multi-currency pools like Multipool or AikaPool.
If you want to mine Dogecoin but don’t want to invest in all the tech, there is one other option…
Dogecoin Cloud Mining
Cloud mining is mining without mining! Put simply, you rent computer power from a huge data center for a monthly or yearly fee. The Dogecoin is mined at the center and then your share is sent to you.
All you need to cloud mine Dogecoin is a Dogecoin wallet. Then choose a cloud mining pool to join. Eobot, Nice Hash and Genesis Mining all offer Scrypt-based cloud mining for a monthly fee.
There are pros and cons to Dogecoin cloud mining;
The Pros
  • It’s cheaper than setting up your own mining operation. There’s also no hot, noisy hardware lying around the house!
  • As a beginner, there isn’t a lot of technical stuff to think about.
  • You get a steady supply of new currency every month.
The Cons
  • Cloud mining pools don’t share much information about themselves and how they work. It can be hard to work out if a cloud mining contract is a good value for money.
  • You are only renting computer power. If the price of Dogecoin goes down, you will still have to pay the same amount for something that is worthless.
  • Dogecoin pools have fixed contracts. The world of crypto can change very quickly. You could be stuck with an unprofitable contract for two years!
  • It’s no fun letting someone else do the mining for you!
Now you know about all the different ways to mine Dogecoin we can ask the big question, can you make tons of money mining Dogecoin?
So, Is Dogecoin Mining Profitable?
The short answer is, not really. Dogecoin mining is not going to make you a crypto billionaire overnight. One Dogecoin is worth 0.002777 US Dollars. If you choose to mine Dogecoin solo, it will be difficult to make a profit. You will probably spend more money on electricity and hardware than you will make from Dogecoin mining. Even if you choose a Dogecoin pool or a cloud pool your profits will be small.
However, if you think I am telling you to not mine Dogecoin, then you’re WRONG! Of course, I think you should mine Dogecoin!
But why? Seriously…
Well, you should mine Dogecoin because it’s fun and you want to be a part of the Dogecoin family. Cryptocurrency is going to change the world and you want to be part of that change, right? Mining Dogecoin is a great way to get involved.
Dogecoin is the coin that puts a smile on people’s faces. By mining Dogecoin you’ll be supporting all the good work its community does. You’ll learn about mining from the friendliest gang in crypto. And who knows? In a few years, the Dogecoin you mine now could be worth thousands or even millions! In 2010, Bitcoin was worthless. Think about that!
Only you can choose whether to mine Dogecoin or not. You now know everything you need to know to make your choice. The future is here. So, what are you going to do?
submitted by alifkhalil469 to BtcNewz [link] [comments]

Is Bitcoin Similar to Apple & the rise of Dogecoin (CRYPTO NEWS) Dogecoin Trading - YouTube Dogecoin Faucet: Top Faucets - 0,21 doges every 10 minutes (Faucetpay) IS DOGECOIN THE NEW BITCOIN?? Is Dogecoin Really a Valid Currency Elon Musk Asks Bitcoin Twitter

Dogecoin vs Bitcoin with very specific needs but Plus500 is probably the best choice for the vast majority of traders and we would find difficulty in recommending anyone else. He spends his days searching for the next Bitcoin. A longtime advocate of blockchain technology, Saul believes that cryptocurrency represents so much more than an Dogecoin is a cryptocurrency, which the Guardian describes as "a combination of Bitcoin, the popular digital money, and Doge, the internet meme that superimposes broken English written in Comic Sans onto pictures of Shiba Inu dogs."While the Doge meme is silly, Dogecoin is built on the same technologies as Bitcoin and Litecoin and is just as legitimate. Dogecoin differs from Bitcoin's proof-of-work protocol in several ways, one of which is by using Scrypt technology. The altcoin has also a block time of 1 minute, and the total supply is uncapped, which means that there is no limit to the number of Dogecoin that can be mined. The Dogecoin mining difficulty is perhaps one of Dogecoin’s most important features. It is an algorithm that is updated based on total network hashing power to ensure that Dogecoin blocks are generated on average every minute. Imagine this scenario: gold prices rise from $1,200 per ounce to $2,000 per ounce. Dogecoin explorer, block: 3327144

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Is Bitcoin Similar to Apple & the rise of Dogecoin (CRYPTO NEWS)

Autoplay When autoplay is enabled, a suggested video will automatically play next. Up next How To Claim Bitcoin Every 5 Minutes (Dogecoin, Litecoin, Bitcoin Cash, ethereum) 2020 - Duration: 8:16. Elon Musk has trolled the Bitcoin and wider crypto community once again: The Tesla and SpaceX chief executive just mentioned Dogecoin (DOGE) for the second day in a row on July 18th. faucet legit 2020 (DOGECOIN) faucet legit 2020 bitcoin (web penghasil DOGE legit) instan wd 3detik... ke faucetpay dan update situs mining yang masih legit (live wd) buruan digass masbro mbakbro ... Bitcoin has been a subject of scrutiny amid concerns that it can be used for illegal activities. In October 2013 the US FBI shut down the Silk Road online black market and seized 144,000 bitcoins ... In this video I will be exploring is Bitcoin similar to apple & the rise of Dogecoin. Bitcoin in 2020 is eerily similar to Apple in 2008 with industry penetration, 3 month volatility, average ...

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