What criteria to consider in blockchain networks
Most of you probably used Blocktivity services: #MetaHash has been one of the top 10 blockchain projects tracked on this platform for a long time. Let’s take a look by what criteria we manage to keep the leadership and what they mean.
First of all, #MetaHash is measured by Activity. It means the number of operations performed in the last 24 hours. If the system detects a hint of a scam (for example, if most of the transactions are performed by one person) networks are marked with a warning sign “!”. Luckily, #MetaHash users are actively transferring funds from one wallet to another, delegate, forge… In general, our project lives a full life ;)
The next point is Tx, that is, transactions. You’d think, what’s the difference between operations and transactions? It’s simple, an operation is not only about transferring coins, but also other actions, like updating or creating an asset, voting, commenting, publishing to a blog and so on. While transactions are “packages” of several operations, for example, the delegation process includes transferring, tracking, and rewarding.
The Record criteria is pretty obvious. It is the maximum number of transactions that has been recorded by the Blocktivity platform. The other features like Protocol, Price, Market Cap and others are standard and should not cause any questions (but if they do, you know whom to ask ;) ).
Let’s discuss the Potential index as the most interesting. By this parameter they mean the expected growth of the project compared to the ratio of Bitcoin activity to market capitalization. Why Bitcoin? Potential is calculated from the ratio of the blockchain activity to its capitalization. And the Bitcoin network is taken as a measure, its Potential is equal to “1”. That is, the Potential formula looks like this: (transactions in the last 24 hours / market capitalization) * (1 / (Bitcoin transactions in the last 24 hours / Bitcoin market capitalization)).
Some networks are assigned very high index values. This is because they have a small market capitalization and yet handle a transaction volume comparable to BTC. In particular, thanks to the trilemma solution #MetaHash validates transactions in less than 3 seconds, and can pass an incredible 100,000 transactions every second!
So, even if you’ve never applied tools like Blocktivity, we highly recommend trying. These services help to research the market and show not only the traditional market activity like CoinMarketCap, but also the real activity of the network. Thanks to them, you can find really worthwhile projects, which do not hype, but provide real working technologies.
— — — — — — — — — — — — — — — — — — — — — — — — — —