• Latest
  • Trending
  • All
  • Litecoin
  • Ethereum
  • Market
5 “next bitcoins” that weren’t

5 “next bitcoins” that weren’t

March 19, 2022
White House office seeks public opinion on crypto-climate implications

White House office seeks public opinion on crypto-climate implications

March 26, 2022
Love it or hate it, crypto’s vibe shift is now imminent

Love it or hate it, crypto’s vibe shift is now imminent

March 26, 2022
Save on your hotel - hotelscombined.com
ADVERTISEMENT
BTC, ETH Begin Weekend Close to Key Resistance Levels – Market Updates Bitcoin News

BTC, ETH Begin Weekend Close to Key Resistance Levels – Market Updates Bitcoin News

March 26, 2022
Cryptocurrency Adoption to Grow Significantly This Year in Latam – Bitcoin News

Cryptocurrency Adoption to Grow Significantly This Year in Latam – Bitcoin News

March 26, 2022
Crypto Market Cap Reclaims $2 Trillion as Bitcoin Touched $45K (Weekend Watch)

Crypto Market Cap Reclaims $2 Trillion as Bitcoin Touched $45K (Weekend Watch)

March 26, 2022
3 Metrics to Analyze GameFi Projects

3 Metrics to Analyze GameFi Projects

March 26, 2022
PUBG Developer Krafton Partners With Solana Labs to Build Blockchain Games and Services – Bitcoin News

PUBG Developer Krafton Partners With Solana Labs to Build Blockchain Games and Services – Bitcoin News

March 26, 2022
Coinbase to track off-platform crypto transfers in Canada, Singapore, Japan

Coinbase to track off-platform crypto transfers in Canada, Singapore, Japan

March 26, 2022
Nevada Man Pleads Guilty In $722 Million Bogus Crypto Investment

Nevada Man Pleads Guilty In $722 Million Bogus Crypto Investment

March 26, 2022
Luxury Italian Retailer Michele Franzese Moda Reveals Fashion Brand Accepts Crypto Payments – Bitcoin News

Luxury Italian Retailer Michele Franzese Moda Reveals Fashion Brand Accepts Crypto Payments – Bitcoin News

March 26, 2022
Decentralization, DAOs and the current Web3 concerns

Decentralization, DAOs and the current Web3 concerns

March 26, 2022
Behind the bipartisan crypto bill that’s coming to Congress

Behind the bipartisan crypto bill that’s coming to Congress

March 26, 2022
  • About Us
  • Privacy Policy
  • Newsletter
  • Contact Us
Sunday, May 29, 2022
Crypto Top News
Save on your hotel - hotelscombined.com
  • Home
  • Altcoin
    Bitcoin at $44.9k as ETFs touch new highs, altcoins continue green rampage

    Bitcoin at $44.9k as ETFs touch new highs, altcoins continue green rampage

    5 “next bitcoins” that weren’t

    5 “next bitcoins” that weren’t

    Where Does Bitcoin Stand With Depleting Dollar Dominance

    Where Does Bitcoin Stand With Depleting Dollar Dominance

    Crypto Corner: The Sports Slice

    Crypto Corner: The Sports Slice

    Polygon (MATIC) suffers network outage sparking a wave of angry users

    Polygon (MATIC) suffers network outage sparking a wave of angry users

    Goldman Sachs Will Now Offer Its Clients Ethereum Funds Via Galaxy Digital

    Goldman Sachs Will Now Offer Its Clients Ethereum Funds Via Galaxy Digital

    Kava adds EVM support to the network with Ethereum co-chain alpha launch

    Kava adds EVM support to the network with Ethereum co-chain alpha launch

    Crypto Corner: The Sports Slice

    Crypto Corner: The Sports Slice

    Fantom Foundation Responds To Andre Conje’s Departure

    Fantom Foundation Responds To Andre Conje’s Departure

    Total amount of Luna tokens staked down 62% from ATH even amid massive price rally

    Total amount of Luna tokens staked down 62% from ATH even amid massive price rally

  • Bitcoin
    White House office seeks public opinion on crypto-climate implications

    White House office seeks public opinion on crypto-climate implications

    BTC, ETH Begin Weekend Close to Key Resistance Levels – Market Updates Bitcoin News

    BTC, ETH Begin Weekend Close to Key Resistance Levels – Market Updates Bitcoin News

    Cryptocurrency Adoption to Grow Significantly This Year in Latam – Bitcoin News

    Cryptocurrency Adoption to Grow Significantly This Year in Latam – Bitcoin News

    PUBG Developer Krafton Partners With Solana Labs to Build Blockchain Games and Services – Bitcoin News

    PUBG Developer Krafton Partners With Solana Labs to Build Blockchain Games and Services – Bitcoin News

    Nevada Man Pleads Guilty In $722 Million Bogus Crypto Investment

    Nevada Man Pleads Guilty In $722 Million Bogus Crypto Investment

    Luxury Italian Retailer Michele Franzese Moda Reveals Fashion Brand Accepts Crypto Payments – Bitcoin News

    Luxury Italian Retailer Michele Franzese Moda Reveals Fashion Brand Accepts Crypto Payments – Bitcoin News

    APENFT Marketplace Makes NFT Drops in the TRON Ecosystem Accessible – Press release Bitcoin News

    APENFT Marketplace Makes NFT Drops in the TRON Ecosystem Accessible – Press release Bitcoin News

    DOJ Charges Two People in Million-Dollar Scheme to Defraud Investors – Regulation Bitcoin News

    DOJ Charges Two People in Million-Dollar Scheme to Defraud Investors – Regulation Bitcoin News

    After years of doubts and concerns, it is finally Bitcoin’s time to shine

    After years of doubts and concerns, it is finally Bitcoin’s time to shine

  • Cryptocurrency
    • Ethereum
    • Litecoin
  • Blockchain
    Decentralization, DAOs and the current Web3 concerns

    Decentralization, DAOs and the current Web3 concerns

    MIT adds the Bank of England to its stable of CBDC digital currency research partners

    MIT adds the Bank of England to its stable of CBDC digital currency research partners

    Learn about Web3 and how it aims to transform internet services

    Learn about Web3 and how it aims to transform internet services

    European crypto regulatory framework goes to three-way consideration without PoW ban

    European crypto regulatory framework goes to three-way consideration without PoW ban

    Jamaica’s central bank digital currency and the problems it hopes to solve

    Jamaica’s central bank digital currency and the problems it hopes to solve

    LG Electronics adds blockchain and crypto as new areas of business

    LG Electronics adds blockchain and crypto as new areas of business

    Powers On… Biden accepts blockchain technology, recognizes its benefits and pushes for adoption – Cointelegraph Magazine

    Powers On… Biden accepts blockchain technology, recognizes its benefits and pushes for adoption – Cointelegraph Magazine

    IOSCO says DeFi is quickly evolving and ‘cloning financial markets’

    IOSCO says DeFi is quickly evolving and ‘cloning financial markets’

    Stargate Finance attracts $1.9B in six days

    Stargate Finance attracts $1.9B in six days

  • Regulation
    Love it or hate it, crypto’s vibe shift is now imminent

    Love it or hate it, crypto’s vibe shift is now imminent

    Coinbase to track off-platform crypto transfers in Canada, Singapore, Japan

    Coinbase to track off-platform crypto transfers in Canada, Singapore, Japan

    Behind the bipartisan crypto bill that’s coming to Congress

    Behind the bipartisan crypto bill that’s coming to Congress

    US Treasury Secretary Janet Yellen says upcoming crypto regulations will nourish healthy innovation

    US Treasury Secretary Janet Yellen says upcoming crypto regulations will nourish healthy innovation

    Secretary Yellen recognizes ‘benefits of crypto’ despite lingering skepticism

    Secretary Yellen recognizes ‘benefits of crypto’ despite lingering skepticism

    Crypto tax policy framework passes India’s parliament despite pushback from lawmakers

    Crypto tax policy framework passes India’s parliament despite pushback from lawmakers

    US senators Lummis, Gillibrand reveal working on bipartisan crypto legislation

    US senators Lummis, Gillibrand reveal working on bipartisan crypto legislation

    Finally, a proof of work ban is off the table in Europe

    Finally, a proof of work ban is off the table in Europe

    Korean crypto exchanges are now in compliance with the Travel Rule

    Korean crypto exchanges are now in compliance with the Travel Rule

  • Market
    3 Metrics to Analyze GameFi Projects

    3 Metrics to Analyze GameFi Projects

    Coinbase to Label Some Assets as ‘Experimental’ In Bid to Boost Transparency

    Coinbase to Require Recipient Information for Crypto Transfers From Users in Canada, Singapore and Japan

    ‘We Have Entered a Period of Pain,’ Says WazirX CEO of India’s New Tax Laws

    ‘We Have Entered a Period of Pain,’ Says WazirX CEO of India’s New Tax Laws

    White House Wants Public Comments on Crypto’s Energy Use and Environmental Impact

    White House Wants Public Comments on Crypto’s Energy Use and Environmental Impact

    Greener Bitcoin Mining Could Be China’s ‘Trillion-Dollar Present’ to the US

    Greener Bitcoin Mining Could Be China’s ‘Trillion-Dollar Present’ to the US

    Bitcoin Tops $44K Amid Rumors of Terra's LFG Accumulating BTC

    Bitcoin supera los $44.000 entre rumores de compra de BTC por parte de Fundación Terra

    Bitcoin Outperforms as Crypto Bulls Take a Breather

    Bitcoin Outperforms as Crypto Bulls Take a Breather

    4 Reasons Why Bitcoiners Should Pass on El Salvador’s Bitcoin Bond

    4 Reasons Why Bitcoiners Should Pass on El Salvador’s Bitcoin Bond

    Bitcoin Faces Initial Resistance at $46K; Support at $42K

    Bitcoin Faces Initial Resistance at $46K; Support at $42K

  • Prices
  • ICO
  • Travel Websites
No Result
View All Result
Crypto Top News
No Result
View All Result
Home Altcoin

5 “next bitcoins” that weren’t

by Admin
March 19, 2022
in Altcoin
0
5 “next bitcoins” that weren’t
728*90
ADVERTISEMENT


The world of blockchain gets so many new projects that it’s easy to forget the ones that that fizzled out.

Whereas every new “Ethereum killer” gets attention, as do disaster projects like HashOcean and BAS, it’s important to look back in time to some older projects (that means over 2 years plus, in crypto) that generated huge hype which never translated to results.

—not scams or complete failures, but projects that never quite lived up to their hype.

By looking at these, you’re reminded that in an emerging, volatile industry like crypto, even large, highly-anticipated projects don’t always go as planned.

Bitcoin Cash

Bitcoin Cash, or BCH, is both a payment network and a cryptocurrency. As of March 9, the 27th largest cryptocurrency by market cap. BCH was launched in August 2017 as a hard fork of the Bitcoin blockchain.

It reached an all-time high on December 23, 2017, at $3,923. Its price has largely maintained similar fluctuations to BTC.

Footprint Analytics - Price of BTC and BCH
Footprint Analytics – Price of BTC and BCH

Bitcoin Cash was forked to increase Bitcoin’s 1M block limit and has now reached a max of 32M blocks. Therefore, per transaction processed speed is much higher than  BTC, and transaction fees are lower. But Bitcoin Cash can’t beat  BTC in terms of market cap for now.

Why it didn’t work

BTC is still the primary crypto for decentralization, cross-border transactions, and continues to evolve as a store of value. It has now become analogous to digital gold, with the payment function fading away.

Digital gold is more valuable than a means of payment. BCH is unable to surpass BTC because of its positioning, as iron is less than valuable than gold.

BCH was also affected by the Fed’s interest rate hike, balance sheet reduction, and the fall of US stocks. The best time to surpass BTC has been missed.

With a new bear market on the horizon and negative political factors, there could be a new wave of downward pressure on BTC.

However, BCH still has an active community that believes it could make a rebound and become the next big thing, as evidenced by Bitcoin Cash’s Reddit community.

Ethereum Classic

Often mentioned alongside BTC, ETH has its sister, Ethereum Classic. Even though it is a network with ETH technology and BTC concept, it has not shaken Ethereum’s position.

Ethereum’s hard fork occurred in July 2016, when founder Vitalik Buterin proposed the idea of a hard fork. To recover the assets stolen by hackers from the DAO. Eventually, Ethereum forked into Ethereum and Ethereum Classic.

Ethereum Classic, ETC, is ranked 34th in cryptocurrency market capitalization. The fork keeps the vision and philosophy of the original Ethereum, with a higher degree of decentralization and community autonomy, but with only 15% HashRate support.

Nowadays, both the token price and ecosystem applications are far less than Ethereum.

Why it didn’t work

From the hard fork, the original Ethereum founders and team left to go support and lead the current Ethereum, while Ethereum Classic was taken over by a new team.

In terms of supporters, with 85% HashRate support after the fork, Ethereum has far more supporters and higher demand than Ethereum Classic.

In terms of ecosystem integrity, Ethereum has become the top public chain TVL, while not many projects are deployed on Ethereum Classic.

So, in many ways, even though Ethereum Classic is more committed and decentralized, it didn’t end up being the dominant player in the blockchain world.

NEO

NEO, formerly AntShares, was launched in China in 2014 by Erik Zhan and his team as a public chain. It was an open-source project in 2015 on Github and completed ICO capitalization a few months later.

NEO supports the development of its own cryptocurrency, digital assets, and smart contracts that can achieve thousands of transactions per second.

Neo’s price has risen very sharply. From $0.08 at launch, it reached an all-time high of $198.38 on January 15, 2018, an increase of 2,478.75%.

But it was short-lived, and the overall downward trend is evident in Footprint  Analytics data, with the current price at $21.27.

Footprint Analytics - Price & Trading Volume of Neo
Footprint Analytics – Price & Trading Volume of Neo

Why it didn’t work

The former 1,000x coin has fallen, becoming the 77th largest coin in terms of market capitalization. This is not due to objective off-site factors such as the poor performance of the cryptocurrency market, but rather NEO itself.

  • Code updates of NEOs are weak
  • Ecosystem development is almost stagnant.
  • Decentralization is weak. There are only 7 voting nodes and they are officially deployed by NEO.

As the saying goes, if the foundation is not strong, the ground will shake. If NEO fails to address the above issues, it will continue to be overtaken in a new bear market.

EOS

In May 2017, block. one launched  EOS  as a smart contract platform and distributed operating system. It became a strong competitor to Ethereum in 2018.

At that time, the market was skeptical of Ethereum due to transaction congestion, high gas fees, and failure to release its sharding technology.

After launching in less than 6 months, EOS—with zero fees and extremely fast transaction speeds—crashed Ethereum’s less than 3,000 daily transactions with a single-day count of 30,000. EOS was the OG Ethereum-killer.

Why it didn’t work

However, the young protocol ultimately failed to live up to its potential. EOS’s extremely fast transaction processing comes at the expense of decentralization.

EOS’s consensus mechanism has 21 supernodes to process transactions, making it impossible for smaller node operators to participate. Supernodes are elected by holding coins, with the implied risk of bribery.

Ethereum and Bitcoin’s POW consensus mechanism is inefficient, while EOS’s Delegated Proof of Stake (DPoS) consensus mechanism is very efficient.

Yet, the core of blockchain is decentralization, and EOS is essentially more of a centralized chain.

Currently, almost all active top public chains have impressive applications or at least have protocols that support public chains. For example, Anchor on the Terra chain. However, EOS did not.

Although EOS officials have repeatedly said that they support ecosystem construction, as of March 9, the on-chain ecosystem of EOS still looks like a barren wasteland.

Dfinity/Internet Computer

Dfinity is a decentralized cloud technology platform. Founded in 2016, it was quite popular with venture capitalists. It bucked the bear market in 2018 and received $102 million in funding from a16z, the largest outbound investment by a16z that year.

Dfinity’s vision is to create a public cloud computing platform that is more efficient and secure than AWS, putting the blockchain network under the control of a distributed computer network.

The Internet Computer was expected to launch in the second half of 2018 or the first half of 2019, but the actual Alpha master network went live in December 2020.

Why it didn’t work

Dfinity has taken more than two years since its funding to deliver a product and it is not unique. The team moves too slowly.

In terms of blockchain AWS solutions, Alchemy, a blockchain development platform service for Web3, was founded in 2017 and powers most of the world’s blockchain companies today.

For source code, Github has been around since 2008 and is the platform where the vast majority of today’s blockchain protocols are hosted.

Community autonomy, which allows the community to manage tokens, has also been implemented in many projects.

While the concept of Dfinity is interesting, the delayed launch caused the project to lose its thunder.

Date & Author: March 29 2022, Grace

Data Source: Footprint Analytics

This piece is contributed by the Footprint Analytics community.  

The Footprint Community is a place where data and crypto enthusiasts worldwide help each other understand and gain insights about Web3, the metaverse, DeFi, GameFi, or any other area of the fledgling world of blockchain. Here you’ll find active, diverse voices supporting each other and driving the community forward.

What is Footprint Analytics?

Footprint Analytics is an all-in-one analysis platform to visualize blockchain data and discover insights. It cleans and integrates on-chain data so users of any experience level can quickly start researching tokens, projects, and protocols. With over a thousand dashboard templates plus a drag-and-drop interface, anyone can build their own customized charts in minutes. Uncover blockchain data and invest smarter with Footprint.

Get your daily recap of Bitcoin, DeFi, NFT and Web3 news from CryptoSlate

It’s free and you can unsubscribe anytime.

Get an Edge on the Crypto Market 👇

Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits



Source link

300*250
ADVERTISEMENT
Admin

Admin

300*250
ADVERTISEMENT
300*250
ADVERTISEMENT
300*250
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
Circle Captures $440 Million in Financing, Rumors of SPAC Deal Follow – Finance Bitcoin News

Circle Captures $440 Million in Financing, Rumors of SPAC Deal Follow – Finance Bitcoin News

May 29, 2021
Grayscale Parent Company to Purchase Ethereum Classic Trust Shares Worth $50 Million

Grayscale Parent Company to Purchase Ethereum Classic Trust Shares Worth $50 Million

June 22, 2021
Spain’s Largest Asset Managers Still Reluctant to Invest in Cryptocurrencies – News Bitcoin News

Spain’s Largest Asset Managers Still Reluctant to Invest in Cryptocurrencies – News Bitcoin News

May 29, 2021
White House office seeks public opinion on crypto-climate implications

White House office seeks public opinion on crypto-climate implications

0
Ethereum Plunges 10% in 48 hours

Ethereum Plunges 10% in 48 hours

0
Public vs Private Blockchain | Ernst & Young’s New Blockchain Prototype

Public vs Private Blockchain | Ernst & Young’s New Blockchain Prototype

0
White House office seeks public opinion on crypto-climate implications

White House office seeks public opinion on crypto-climate implications

March 26, 2022
Love it or hate it, crypto’s vibe shift is now imminent

Love it or hate it, crypto’s vibe shift is now imminent

March 26, 2022
BTC, ETH Begin Weekend Close to Key Resistance Levels – Market Updates Bitcoin News

BTC, ETH Begin Weekend Close to Key Resistance Levels – Market Updates Bitcoin News

March 26, 2022
Crypto Top News

Copyright © 2019 cryptotopnews.com

Navigate Site

  • About Us
  • Privacy Policy
  • Newsletter
  • Contact Us

Follow Us

No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Cryptocurrency
    • Ethereum
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
  • Travel Websites

Copyright © 2019 cryptotopnews.com

  • bitcoinBitcoin (BTC) $ 29,037.00
  • ethereumEthereum (ETH) $ 1,789.21
  • tetherTether (USDT) $ 1.00
  • usd-coinUSD Coin (USDC) $ 1.00
  • bnbBNB (BNB) $ 306.11
  • xrpXRP (XRP) $ 0.386275
  • binance-usdBinance USD (BUSD) $ 1.00
  • cardanoCardano (ADA) $ 0.466091
  • solanaSolana (SOL) $ 44.16
  • dogecoinDogecoin (DOGE) $ 0.081576