🤷 Opinions Alexander Goborov

The Top Crypto Dozen by Year of Formation

Opinions
If you ever wondered whether being the first meant staying ahead of rivals, this crypto list should offer some insight
The Top Crypto Dozen by Year of Formation

We have previously brought you a fair bit of statistics, from popularity trends to age categories of Bitcoin owners. But now, why not take a step back and look at the bigger picture, as it were. ICOs come and go, prices drop and skyrocket, but who is actually leading the market? Or, more interestingly, how long have they been doing so?

Below is our latest list that offers a brief crypto history from the start of the Blockchain movement up until now:

The Top Crypto Dozen

2008: The actual, seemingly invisible starting point, the global financial crisis. Huge banking corporations, among them Lehman Brothers and Goldman Sachs, go bankrupt. To many, this is the glaring signal that the centralized system is failing.

2009: The crypto pioneer Bitcoin gets launched by the mystery man Satoshi Nakamoto and later adopted as the currency of choice by the infamous Silk Road. Today, with the market cap of around 111.7 billion US dollars, it is the current leader, as well as the most valued altcoin on the market (around 6 500 USD a pop).

2011: Litecoin gets launched by Charlie Lee, a former Google employee. Though the second to be featured on our list (and of very similar fintech specifications to Bitcoin), it is, actually, currently occupying the seventh position by market cap with around 3.2 billion USD.

2012: Ripple, or XRP as it is known to many, gets launched. Despite the low price of around 50 US cents per coin, Ripple is both the third one to be mentioned in our list and concurrently the third one by market cap with roughly 21 billion USD. Note that XRP cannot be mined.

2014: Dash (first called XCoin, then Darkcoin, finally getting its present name in 2015), Monero, Stellar, and Tether get launched, who are currently occupying positions twelve with 1.4 billion USD, nine with 1.85 billion USD, six with 4.8 billion USD, and ten with 1.8 billion USD respectively. The fact that four of the leading companies appear in the aftermath of the 2013 Bitcoin bubble (that continued well into 2014) is surely no coincidence.

2015: Ethereum gets launched by the Russian-Canadian programmer Vitalik Buterin. In spite of formally entering the market comparatively late in the game, six years after Bitcoin, the Ethereum platform with its native coin, Ether, is in second place by market cap today with around 22 billion USD, slightly ahead of Ripple (with just around 800 million USD in excess). Ethereum futures are said to be on the way shortly.

2017: Bitcoin Cash (through the hard fork split with Bitcoin), Cardano, and TRON get launched, who are presently occupying positions four with over 10 billion USD, eight with roughly 2 billion USD, and eleven with 1.6 billion USD respectively. Once again, the fact that we have yet another three major players that emerged out of yet another crypto bubble (with Bitcoin’s price approaching 20 000 USD in December) does not look like a coincidence either.

2018: EOS gets launched. Being the latest newcomer, it is already at the very respectable number five by market cap with just over 5 billion USD. However, very recently, EOS got accused by the Ethereum-funded research companies, ConsenSys and Whiteblock, of not being a Blockchain company and instead being a cloud-like service. This could potentially affect EOS’s global standing, but the full outcome of this scandal still remains to be seen.  

We hope you found our list helpful. Stay tuned for more.

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Let’s Talk Stablecoins: Interview with the Co-Founder of Cred and Former GM at PayPal, Dan Schatt

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With many HODLers and crypto enthusiasts looking for investment advice, insights from a top expert in the fintech field, Dan Schatt, are sure to come handy
Let’s Talk Stablecoins: Interview with the Co-Founder of Cred and Former GM at PayPal, Dan Schatt
Contents

Dan Schatt is the Co-Founder and President of Cred, former General Manager of Financial Innovations at PayPal, and a bestselling author of Virtual Banking: A Guide to Innovation and Partnering. Earlier this week, we sat down with Dan to talk about the crypto market in general and stablecoins in particular.

From Mainstream to Crypto

U.Today: Hi Dan. You had a solid career in mainstream finance, including a leading position within PayPal. Why did you decide to go crypto?

Dan: I became interested in the Blockchain technology and crypto space in 2012, back when I was working at PayPal. While PayPal hoped to become the Internet of Money, my “Aha” moment was that crypto would become the Internet of Value, eclipsing PayPal in every way, i.e. Blockchain would prove more secure, transparent, and allow for the tokenization of all asset classes. It is unbelievable to me how quickly we’ve moved to a legally permissible, tokenized version of the US Dollar!

I believed crypto would also attract a larger developer community than PayPal could ever hope for. You just can’t compete with a world computer or a non-inflationary world currency that can be used by anyone with Internet access.

I later published a book in 2014 called Virtual Banking, with a chapter on Bitcoin and crypto. I’ll never forget my interviews with Wences Casares, who really opened my eyes to the power of Bitcoin.

U.Today: Please tell us a bit about your present company that you, as we understand, also co-founded. What does Cred do exactly?

Dan: What is the best possible loan you can get, other than a free friends and family loan? Probably a home equity line of credit. The problem is most people can’t get a home… Replace the home with crypto and that is essentially what Cred has created: the world’s first Crypto Line of Credit (C-LOC™). We allow people the ability to use their BTC, ETH and XRP as collateral and get cash. Cred has amassed over $300 million in lending capital to provide liquidity against crypto assets. We are set to revolutionize the lending industry by merging an established global lending network, a diverse fintech team, machine learning, and the power of the Blockchain technology.

U.Today: It seems that education, among other fields, is moving onto the Blockchain. The UC at Berkeley now has its own Blockchain, and your company is somehow connected to it through a third entity, is that right?

Dan: Yes! Cred and Blockchain at Berkeley, are two of the founding members of the Universal Protocol Alliance. Howard Wu is Cred’s Chief Scientist and a Founder of Blockchain at Berkeley, the largest US University Blockchain associated in the United States. They have an incredible amount of talent coming through their program and we are lucky enough to benefit from their thought leadership when we created the Alliance, which is dedicated to bringing important pieces of infrastructure to the crypto community and act as a bridge for the next 100 million users of crypto.

Stablecoins and the Current Market

U.Today: What are your thoughts on Bitcoin’s collapse last month? Did it come as a surprise to you? Where does this situation leave us now?

Dan: I guess it all depends on your time horizon. I’m a big believer that crypto assets will become the preferred store of value and means of exchange in the future. As a store of value, just look at BTC and gold in 2011. Gold is down roughly 30% since 2011 while BTC is up ~118,000% but is still just 1% of gold’s market cap. And how many times has BTC “collapsed”?  

Price volatility is massive at this time because wealth is highly concentrated and institutional involvement is still limited. This will evolve as the Internet did. Development of infrastructure and practical applications takes time… You can’t rush a pregnancy to 1 month by adding 9 doctors. It will still take 9 months.

U.Today: Let’s move on to stablecoins. Certain critics claim that some of them, e.g. Tether (USDT), are a disguised form of centralized fiat currency since they are pegged against the USD. How would you rate this assessment?

Dan: For the last few hundred years, governments have legitimized fiat currency by backing it with gold. Eventually, as trust grew in government currencies, there was no longer a need to connect it with gold. The same is now happening with crypto stablecoins. Will it matter at some point if they are “backed” by fiat? Probably not. At some point, the trust will be in the finite supply, greater transparency, stronger security, increased utility and ability for it to travel as far and wide as the Internet. Governments will eventually work to tokenize their own fiat currencies, but there will always be demand for a store of value or means of exchange that cannot be controlled by any government.

U.Today: Do you think businesses should strive to move away from governments? Then isn’t there a dissonance pertaining to how this ideal can be achieved with stablecoins which by default rely on central banks?

Dan: Governments and businesses will increasingly be pulled in a direction by the Blockchain, i.e. a path toward more transparency, inclusion, and the democratization of financial services. It will become increasingly difficult for governments to close their borders, impose capital controls, and attract talent if they do not support crypto. And, crypto communities need to leverage some of the valuable components of the existing financial ecosystem—the role of professional custody and basic investor safeguards—because inheritability and token recoverability are needed if we are to provide crypto services that will appeal to the next 100 million users.

U.Today: For better or worse, do you think the demand for stablecoins is bound to increase since they seem to demonstrate more stability during crashes?

Dan: Absolutely, but not just because they are stable. They will ultimately be used as a better means of exchange, remittance vehicle, and as core component in automated commerce.

But, not all Stablecoins are created equal. They’re more likely to be ‘stable’ if they are pegged 1:1 and verifiable on-chain, and can allow for anyone to review how the value is substantiated, not just a professional auditor.

The Future Talk

U.Today: What are your predictions for 2019? Will we see more widespread adoption of stablecoins? If yes, do you see it as a positive thing?

Dan: We are building to deliver practical use cases. There are many examples of this: an Argentinian who needs to get out of an unstable fiat currency, or a Turkish expat looking to make a remittance more cost effectively. Stablecoins can deliver on these use cases. I may live in a country with an unstable currency, and I’d like to move into something stable as soon as I can. I may not have access to a US bank account, to buy USD, but now I can buy a better version of the US Dollar. There are now lots of opportunities that broaden the use cases and bring more people in… So yes, a very positive thing!

U.Today: Some claim that DLT is the future of commerce: the fintech sector will change the global economy, drastically reshaping how we do business. Your thoughts on this?

Dan:

Commerce needs more than a distributed ledger to function. Cred, for example, is providing low cost credit to be used in commerce. Others are providing core banking services such as payroll for crypto companies. The future of commerce involves a host of next generation financial services. How those ingredients are combined with DLT is the secret sauce.

U.Today: Finally, what advice would you give to those who are thinking about entering the crypto world? How should one behave in order to succeed in this still largely unexplored domain?

Dan: Keep your ear to the ground and listen for real problems that need to be solved. The more specific, the better. Tools and infrastructure are still needed to allow crypto to go mainstream. Think years vs. months. We’re headed in the right direction, so make sure not to get caught up in the hype cycles, whether crypto is on the way down, or on the way up!

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Interest in Cryptocurrency Leaders Drops: New Players Likely on the Rise

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Major cryptocurrencies are seemingly less fashionable on Google and Telegram, but that might just indicate a hidden rise in popularity for the other crypto players
Interest in Cryptocurrency Leaders Drops: New Players Likely on the Rise

Many crypto proponents argue that cryptocurrency is here to stay. On the contrary, some critics claim that cryptocurrency is a has-been of the financial world and on the way out. Whichever side of the fence you happen to be sitting on, there is no doubt that since the December 2017 crypto bubble, during which Bitcoin reached the record high of almost $20 000 USD, all major cryptocurrencies, Bitcoin included, have been dwindling in value.

image

Concurrently, as the graph above illustrates, the crypto market’s indisputable leader both by market cap and unit price (standing at almost 6500 USD), Bitcoin, has seen a dramatic decline in its searches on Google. Having come down sharply in the winter of this year after last year’s bubble, the search figure continued to fall relative to the previous months, as measured by Google Trends, gradually declining even further, first in the summer and subsequently in the autumn. At present, Bitcoin’s popularity wave appears to have reached its trough.

image

As the second graph shows, this bearish trend is also present in this year’s cryptocurrency mentions on Telegram. Here again, the four leaders by market cap, Bitcoin (~112 billion USD), Ethereum (~21 billion USD), Ripple (~18 billion USD), and EOS (~5 billion USD) have all been but plummeting in their talkability power. Bitcoin fell from 20000 mentions in January to 3000 mentions right now, while the other three all fell from 1000-5000 mentions in January to under 1000 in October.

Nevertheless, this apparently negative trajectory might not necessarily be indicative of a general disinterest in cryptocurrency, but rather of a move away from the unipolar dominance of the major crypto players. In other words, we may be experiencing a period of rapid expansion of the crypto market, in which complexification is not a vertical one, but rather a horizontal one, i.e. an across the board cryptocurrency diversification.

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In terms of this year’s Telegram mentions, there could be yet another, less obvious reason for this decline. Cryptocurrency aside, it would not be implausible to suppose that Telegram itself has become less popular this year, since the end of the 2017 crypto bubble coincided with the Russian government's crackdown on Telegram. Accordingly, there may simply be fewer interactions and mentions on Telegram of any kind, including those that pertain to the crypto world. Be that as it may, it still wouldn’t explain Bitcoin’s decreasing search statistic on Google, which makes the first explanation we offer here more parsimonious.

Whatever the reason for the market leaders’ forced retreat, it is clear that, speaking overall, this crypto year has been on the wane so far. We may yet see some changes brought about by the appearance of the merry-faced Santa in the upcoming holiday season. What is self-evident regardless is that more and more newly established crypto players are joining the race every day with their own agendas and cryptocurrencies, which may well give the public less time to pay heed exclusively to the leaders, as was the case until somewhat recently.

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10 Bitcoin Millionaires: People Who Became Rich From Cryptocurrency

📚 Wikicoin
Becoming a millionaire overnight is possible with the right crypto investment.
10 Bitcoin Millionaires: People Who Became Rich From Cryptocurrency
Contents

These stories of 10 Bitcoin millionaires prove that there’s nothing impossible, and a smart investment made once can make you go from zero to hero. Let’s find out how people managed to gather their Bitcoin wealth.

Together with revolutionizing the world economy, Bitcoin has irreversibly changed lives of many people– mostly the ones who believed and bet on it. Stories of some of them prove that it’s possible to become a Bitcoin millionaire overnight– such wonders happened. It’s time to read about ten people who have managed to wake up as Bitcoin millionaires.

The list of Bitcoin millionaires 2017

In this Bitcoin millionaires list, we compare the revenue obtained from trading and investing in the currency.

Gavin Andresen

$2 mln

Yufi Guo

$5 mln

Winklevoss Twins

$ 11 mln

Tony Gallippi

$ 20 mln

Jered Kenna

$ 30 mln

Dave Carlson

$ 35 mln

Charlie Shrem

$ 45 mln

Roger Ver

$ 52 mln

Ross Ulbricht

$ 100 mln

Satoshi Nakamoto

$ 1.1 bln

Jered Kenna

This young millionaire started his way as a trader by buying the coins for $0.20 each. A few years later, he sold the coins for $258 each. The man confesses he lost nearly $200,000 when he formatted a flash drive. Therefore, the millionaire could actually earn way more than his $30 mln, hadn't he made a few mistakes. Anyway, the revenue he's received impresses– not so many traders manage to make millions.

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Winklevoss brothers

Winklevoss twins were among the first to join the Bitcoin club even when the cryptocurrency wasn't popular at all. They started the career path in Facebook and paid attention to the cryptocurrency at the earliest stage of development. Thanks to wise investment, they have managed to earn $11 mln.

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Charlie Shrem

Being among the youngest millionaires from Bitcoin, Charlie Shrem actually started his way as a co-owner of Evr, a well known gastropub in Manhattan. By the way, this place was among the first to accept Bitcoin payments. Initially, Shrem purchased Bitcoins for $3-4. Eventually, he purchased a few thousand more when it reached $20. Later on, he organized Bitinstant- a physical store where people could buy Bitcoins. At the moment, Bitinstant serves as an exchange platform.

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Gavin Andresen

A lot of rumor goes behind the back of this millionaire: Bitcoin creator, Satoshi Nakamoto, has chosen him to be a “successor” to maintain the code of the technology. Some say that Andresen is the mysterious Nakamoto himself– the man denies such claims. Meanwhile, he continues doing his job making Bitcoin easier in maintenance. He has been paid by the Bitcoin Foundation for the help he provided and cashed out a few times. Of course, the payments were accepted in Bitcoins.

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Roger Ver

Roger Ver also invested in Bitistant and together with purchasing Bitcoin gave the coin away. Why? To make people learn about this technology: Roger views it as a reliable way to store valuable assets and aspires to make it wipe out the fiat currencies. Therefore, Ver was the pioneer of startup investments. Being a successful businessman before Bitcoin’s popularity wave, he has managed to augment his riches considerably and now donates his riches to charity projects.

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Yifu Guo

This Bitcoin kid millionaire started his way in Bitcoin by mining it when he was a student living in New York. A bit later, he created Avalon - the company that specializes in building of mining hardware. The main goal of this initiative is to promote the development of Bitcoin and maintain network availability down the road.

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Tony Gallippi

Tony has long ago become a millionaire: Bitcoin was just another initiative that helped him to multiply his income. Gallippi has a rich experience in financial sphere- he's founded a company that processes payments. In fact, Gallippi’s company focuses on:

  • retail payments

  • real estate

  • bonds and stocks.

His current enterprise, BitPay processes payments worth $1 mln daily and is among the first enterprises to conclude Bitcoin-related agreements with retail stores.

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Dave Carlson

Dave Carlson is a self-made millionaire: he invested into equipment and mined hard. After earning enough money he has found MegaBigPower that allowed mining at an industrial scale – the facilities are placed in his basement. Today, he possesses over 2,000 square feet of space where mining hardware is located and was reported to earn at least $8 per month in 2016.

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Ross Ulbricht

This Bitcoin millionaire story is pretty sad. Despite its digital nature, Bitcoin is a two-sided coin, and the anonymous character of transactions makes it impossible to track the exchange of the currency. That led to the appearance of dark net and illegal operations done via Net. Silk Road was a black market established by someone called ‘Dread Pirate Roberts’. He’s managed to earn millions even before Bitcoin cost a thousand dollars. In 2013, the FBI finally figured out who the man was – Ross Ulbricht. The man got a life sentence, and his black market was shut down. Therefore, almost 150,000 withdrawn Bitcoins now is at FBI’s disposal.

ru

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Satoshi Nakamoto

Our list wouldn’t be full without Satoshi Nakamoto – the mysterious personality (or a group of programmers) who have created Bitcoin. Here are some facts about him:

  • A few people were suspected to be Satoshi Nakamoto, including a famous mathematician. However, nobody knows for sure who stands behind the cryptocurrency.

  • All attempts to track down the personality of Satoshi Nakamoto failed. Today, only a few email chats with other Bitcoin developers exist.

  • Since there are about 1.1 mln Bitcoins existing, Nakamoto’s wealth is worth over $1.1 bln today.

Who is Satoshi Nakamoto?

Want to be the next to say “Bitcoin made me a millionaire”? There’s still every opportunity for it even despite the end of the era when a coin was worth 20 cents. Everything is possible, if you understand the rules of the game, and can predict the fluctuations of currency. If you need some motivation and inspiration, we hope the stories of these people will encourage you.

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Taking Advantage of Decentralized Social Networks to Make Money as a Writer

SingUlarity
Writing and content is in the midst of a revolution and it is Blockchain which will change the way writers earn and how content is consumed
Taking Advantage of Decentralized Social Networks to Make Money as a Writer
Contents

Since the Internet reached critical mass and became an integral part of the local society, the game has changed. Data has become key, and with that, so has content, and at its base level, writing is a hugely powerful tool, but as the Internet has moved towards Web 3.0, so has writing and content.

The world wide web was also seen as a huge expanse of information that anyone could access, but the way in which that information has been consumed has changed over the years. From Web 1.0, through the social stage of the current web 2.0 and now moving towards Web 3.0, the decentralized revolution content is changing.

And, because the content is being consumed differently, it is also essential for writers to move with the times. But, what is positive is that the way in which things are moving is beneficial for writers as they are agents of a decentralized world and because there is a new opportunity to be the first in line.

There are decentralized platforms out there, run on global cryptocurrencies, which allows a writer to know how much they can earn by how much and what quality work they put forward from anywhere in the world.

The evolution of content and writing

One does not need to go back that far to see how far content creation and writing on the Internet has changed. The Internet, very much like Blockchain, took a while to reach critical mass and become something that everything wanted to be a part of.

In the days of Web 1.0, it was a very one-way system. Websites were basically posting boards that were digitally visited by masses of people, these visitors would absorb the information, and that would be the end of the connect.

Writers were expected to dish out information and spew it across the Internet, but anyone could do it with the power to build a blog or website. However, in terms of being lucrative, it was very much like finding a needle in a haystack for these individual writers who would struggle to get their content seen and read.

But, there were then centralized powers that would enlist writers to do their work for them. Major websites and news sites would hire and drain writers for their work and take advantage of the work in a traditional sense. The workers would work and the company would profit.

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Web 2.0 and today’s writing environment

The biggest edge that the Internet has gained in the last few years has been the evolution of social media. No longer is it merely a one-way interaction as users and writers now have a chance to interact and air their views.

Content on the Internet is now under constant scrutiny as any person can either comment directly on articles, or in a bigger way, take the articles to social media sites and share the content, as well as their opinions.

It has allowed writers to build their reputation online as pieces of work can go viral and the writers earn a fan base and a following. Now, writers need not even start their own websites, social media sites are open and available for information to be created, spread, and consumed at a much more rapid rate.

However, this has also allowed almost anyone to become a ‘writer’ there is no barrier to entry so the entire space is congested and convoluted. Being a good writer in today’s environment is not enough, a lot of people are losing out because of the flood in this market.

Additionally, the fact that social media platforms are centralized and monitored, means that the likes of Facebook and Twitter can control the content and install a different barrier on what can and cannot be written about.

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The new wave

Web 3.0, which is being built on the Blockchain, is a new space in which content is being created and slowly being more consumed. It is a decentralized place that allows writers a lot more freedom of content, but also a lot more opportunities to earn for their work.

Decentralized social networks are starting to establish themselves, such as Steemit, and interestingly, the thirst for content on these networks is huge. There is a demand for content that outweighs the supply as writers slowly start to explore this new wave of content and the Internet.

Web 3.0 is all about decentralized collaborative social networks where rewards for content are fairer and do not depend on a central entity running the platform. These platforms also provide stats on how much one can make and it is clear that the earlier adopters regarding this new content writing are far ahead of the rest and earning the most already.

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Being first and making money

To give a little insight into the money-making possibilities of these decentralized platforms, there is a good article about the earning capabilities of writing on the blogging site, Medium.

The writer explains how, just by repurposing his own work on a site like Medium, he has been able to make as much as $100 in 24 hours because of the collaborative and social nature of it. People can donate small amounts of money to articles they think are good, and, because of the way Web 3.0 is going, it is about group collective and crowdfunding.

But, this space is still new, and that is a double-edged sword. There is a huge demand for content and writers, and because of this, it is worth being in early to dominate the space. But, it also takes a bit of experimenting with a bunch of different decentralized social networks to make your content work for you.

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Bitcoin Not Going Anywhere: Its Computing Power as Awesome as Ever

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While some may claim that Bitcoin’s reign is over, here we explain why it cannot possibly be the case
Bitcoin Not Going Anywhere: Its Computing Power as Awesome as Ever
Contents

Bitcoin’s price is now at around 4000 USD, the lowest figure in over a year, showing a sharp decline of 1500 USD only in the last three weeks. Some claim this is Bitcoin’s finale at last. They are dead wrong. And here is why.

Blockchain vs. Crypto

What must be made clear is that Bitcoin is a cryptocurrency, but more importantly, it is also a Blockchain. What’s the difference, some may ask? Well, a substantial one, in fact. While one (i.e. a crypto coin) depends on the other one (i.e. a Blockchain) for its very existence, they are not the same, and one does not necessarily imply the other.

Some companies might have their own Blockchain platforms but not have their own cryptocurrencies as such. Take Tether, for example, which is the eighth biggest cryptocurrency in the world by market cap and the second most traded one after Bitcoin. While Tether, indeed, has its own Blockchain, technically speaking, it lacks an own crypto coin in a true sense of the word, as its token USDT is a stablecoin pegged against the US dollar, which gives it a fixed value.

So, in actuality, while Tether is the biggest player on Bitfinex for all crypto to fiat exchanges, and it uses its own Blockchain to execute business, at the same time it relies not on its Blockchain but rather on the US Department of the Treasury and the Federal Reserve to provide value for its token. It is, therefore, a major Blockchain player with a hypothetical digitalized fiat currency.

In contrast, take Maker, for example, whose digital currency is the second most valuable currency in the world today after Bitcoin in terms of price. Apart from also having a USD-pegged stablecoin Dai in order to fight off volatility, Maker’s main crypto unit is its altcoin MKR, which is an independent cryptocurrency in its own right, and an expensive one at that. Be that as it may, Maker doesn’t have its own Blockchain: it is using Ethereum’s. The same goes for Electrify.Asia and its token. So, there are plenty of companies with their own cryptocurrencies that have no Blockchains of their own.

Bitcoin’s True Power Revealed

Now that we’ve made it clear that Blockchain and cryptocurrency are not one and the same, let’s look at Bitcoin again. While its current price is down, its Blockchain is as strong as ever. In other words, Bitcoin the crypto coin may be in decline, but Bitcoin the network is doing just fine. How fine exactly shows the graph below:

image

In order to move external data onto a Blockchain and form blocks, cryptographic hashing is used. It is a computational process of converting information into an arbitrary 256 character output, with one single output being equal to one hash. TH/s refers to one trillion such hashes per each second of computation. And as the graph reveals, Bitcoin’s average for this month is around 47 million trillion or 47 quintillion hashes. This is the number:

47 000 000 000 000 000 000 of 256-character hashes every single second.

This is a staggering figure by any standard. Bitcoin’s Blockchain is extraordinarily powerful, undoubtedly so. Yes, there is a drop from September’s and October’s averages, which were roughly 51 quintillion hashes per second. But Bitcoin’s hash rate today is as good as the one from this August; in fact, it is three times higher than the figure from this January when Bitcoin’s price, let’s not forget, was more or less at its all time highest. So, right now the price is down… but the power is way up.

Conclusion  

To make things even more straightforward, let’s use a simple analogy. A Blockchain can be considered a stadium where a game is played, whereas a cryptocurrency is the actual game. This game can be a game of football (coin A) or rugby (coin B) or, say, polo (coin C) or anything else athletically appropriate, and it can be played on any stadium whose size and specs fit, i.e. on any suitable Blockchain.

Likewise, a stadium can have its own team playing a game on it (own cryptocurrency), or it can be rented out to other teams for their games (e.g. external tokens on Ethereum), or there might be a game with the constant score of 1:1, such as with stablecoins… or there might even be no active game at all, in theory.

The main point here is this: Bitcoin’s game may be down at present as its team is going through some rough times due to injuries and whatnot. However, most certainly, its stadium is a humongous architectural marvel. Granted, never say never, but, in all likelihood, this gargantuan structure is not going to be demolished any time soon. Bitcoin with its vast digital infrastructure is here to stay.

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