Top 3 Proof-of-Stake projects by market capitalization
We are closing in the third financial quarter of the year, this is a time when financial reports can cause important movements across markets. The quarterly periods would be accurate for any company that operates on a calendar year. However, some companies operate on a fiscal year, and they have their own quarterly calendars that typically differ from those shown above. Companies choose to operate on a fiscal year if they operate in a business that is highly seasonal. However, there is an asset class that behaves quite independent, and has little to no interest in the fiscal quarters; The cryptocurrency market it is known to have movements independent from traditional markets, there is no financial statement released at the end of the month or quarter or year, there are no earnings/share to be checked, there is no clear way at the moment to measure the performance of teams behind different projects. Still, it seems like the most common sense thing to do is to focus our attention on market capitalization. We think the amount of money they managed to extract from the huge fiat empire is a good indicator of the work done by developing teams. In this article we try to note some of the latest developments inside the top 5 Proof-of-Stake projects based on the objective ranking of their market cap size.
- EOS is a blockchain and smart contract platform with a focus on speed, scalability, and user experience. EOS uses delegated proof of stake (DPoS) and a “token ownership as bandwidth” model to achieve high throughput and zero transaction fees and has a market capitalization valued at around $5 billion today. This project managed to get a lot of attention since day one and today is ranked 5th in the overall crypto world. Dan Larimer’s past performance was enough to give EOS full credibility and support from a big part of the crypto-community. Even if the main net release in June was not free of criticism, we could see since then a strong global community, less interested in marketing and more in finding the best applications for their brand new blockchain. The EOS Global Hackathon series is a first-of-its-kind event in the world of blockchain and serves Block.one’s goal of building a decentralized global community. June 9th-10th in Hong Kong, 90 teams and more than 350 entrants from 17 countries competed to build scalable blockchain DAPPs on the EOSIO Platform. After Hong Kong, Sydney followed with more than 5 teams and 200 entrants from around the world competed to “Hack the Outback” : building DAPPs on the EOSIO Platform that focus on environmental issues, winners taking home more than US$144,000 in prizes awarded by EOS VC. London Hackathon just finished and San Francisco is next on their list. We think that developers are the most important part of the crypto movement and EOS seems to work hard in that direction. We think this is a project people should keep their eyes on.
- ADA (Cardano) Cardano was born in 2015 as an effort to change the way we develop and designs cryptocurrencies and it managed to raise around $2 billion. The Cardano protocol was created by Charles Hoskinson, one of the co-founders of Ethereum.The overall focus is to provide a more balanced and sustainable ecosystem that better suits the needs of its users as well as other systems seeking integration. Similar to many open source projects, Cardano did not begin with a comprehensive roadmap or even an authoritative white paper. Rather it embraced a collection of design principles, engineering best practices and methods for exploration. Cardano aims to become an “Internet of Blockchain,” making it possible for all cryptocurrencies to exist side by side and be converted from one to another without intermediaries. Cardano may look to have remained still and silent over the past few months, but don’t let this fool you, the development team consists of a large global collective of expert engineers and researchers. Cardano is still one of the most promising and exciting blockchain projects around, with this, so is ADA, the native token to the Cardano project. While Cardano’s Computation Layer (CCL) is not yet live, the project has published long-term roadmaps, has shipped working software, and seems to have a growing community.
- DASH (Digital Cash) was created three years ago on 18 January 2014 by its developer Evan Duffield and is one of the most promising alternative to Bitcoin. It managed to raise around $1.5 billions and promotes itself as peer-to-peer decentralized electronic cash. It plans to be as liquid as real cash which we use in our respective countries like USD, EUR or GBP. Dash is built upon Bitcoin’s core code with the addition of new features (such as privacy and quick transactions). Like BTC, Dash is open-source and has its own blockchain, wallet infrastructure, and community. But unlike BTC, its transaction fee is negligible. Dash has a variable block reward which decreases at a 7.1 % rate each year. The average block mining time is 2.5 minutes on the Dash blockchain, which makes it four times faster than Bitcoin. Evenmore, it looks like from the attitude of the development community that Dash will only remain as digital money for the internet, which is a good thing. Though it has competitors, like Monero and PIVX, Dash isn’t going anywhere soon. It is more flexible and ready to use, and it has a really solid infrastructure. All this sets Dash apart from the similar projects and makes it a promising currency.