EOS, Litecoin (LTC), & Tron (TRX) Fall

cryptocurrency market fall

As we start out the fourth week of August, we see most of the cryptocurrency market fall. Bitcoin (BTC) is trading just below $6,500 and Ethereum (ETH) has once again dipped below $300. This weekend, the market took a slight rise and almost peaked over $225 billion, but has since been corrected.

Let’s take a look at EOS, Litecoin (LTC), Tron (TRX), and their latest project updates today.

Cryptocurrency Market Fall – EOS

For the third month in a row, EOS has been given the top rating spot on China’s national blockchain ratings. The ...

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Over 60% of Top 100 Cryptocurrencies Have No Working Product, Study Claims

Over 60% of Top 100 Cryptocurrencies Have No Working Product, Study Claims

Of the top 100 cryptocurrencies listed by market capitalization, only 36 are actually what the authors term “working products” in a study recently published online. Newer ecosystem website, Invest in Blockchain, commissioned the study. It’s sure to be debated, and hotly, as to which coins made the cut to 36, but the authors attempt to assure readers certain standards were applied across the board in order to make their determination much of the cryptosphere is a giant dumpster fire.

Also read: Bitcoin Stickers Attract Unwanted Attention from Authorities

A Cold 36% Out of 100 Top Cryptocurrencies Have Working Products

In fact a cold 36% of the top 100 cryptos have what the writers define as “working products.” They agree that “it’s important to define what exactly constitutes a working product in the first place.” Simply taking into account a project being “open-source, building a basic blockchain and launching it isn’t a very high bar to set. We wanted to be a bit more rigorous with our criteria.”

“If you haven’t run into at least a handful of people who are cynical about the state of the blockchain industry and think it’s mostly scams and vaporware, well… you probably haven’t been into crypto for very long,” John Bardinelli and Daniel Frumkin wrote in the study, Cryptocurrencies In The Top 100 With Working Products That Are In-Use. “And the truth is, those cynics have a good point.”

Over 60% of Top 100 Cryptocurrencies Have No Working Product, Study Claims

 

The study was put out by the site, Invest in Blockchain, founded in 2017. They claim to have “researched the top 100 cryptocurrencies (by market cap) in an effort to learn how many of them actually had working products that are providing real value. The same research done in 2017 may have yielded some truly discouraging results but, even now, the results aren’t exactly stellar.”

For the authors of the study, a “working product” is 1. “active and available to the public,” 2. “Its mainnet has likely been released for some time, bumping the version numbers well above 1.0,” and 3. “Businesses and individuals use it on a daily basis for dapps, smart contracts, or digital currency transactions.”

Dash Doesn’t Make the List

As they researched, the authors were sure to match project promises made to what has actually been delivered, the present state of the company, its roadmap, and release history. Still, there “are many projects in the top 100 that have launched their mainnet, and can claim to have a ‘working product’ by a loose definition,” the authors note.

“However, we have chosen not to include projects which aren’t actually being used by any significant measure, which means that most of the recently launched mainnets will not yet meet our criteria.” For example, “a dapp platform that has a mainnet but that doesn’t have any noteworthy dapps on top of it isn’t considered ‘working’ by this criteria,” they conclude.

Over 60% of Top 100 Cryptocurrencies Have No Working Product, Study Claims

Projects that made the cut are: “0x Protocol, Ardor, Augur, Bancor, basic attention token, bibox token, Binance Coin, Bitcoin, Bitcoin Cash, Bitshares, bytecoin, decred, ethereum, Golem, Huobi Token, komodo, Kucoin Shares, kyber network, litecoin, Loom Network, Monero, nano, NEO, PIVX, Polymath, Pundi X, QTUM, Ripple, Siacoin, Steem, stellar, tether, Wanchain, Waves, ZCash, and zencash.”

As noted, there is bound to be controversy with lists such as these. Commenter PertReader1 notes, “LOL you include PIVX a fork of Dash, but ignore Dash? You mention that PIVX ‘launched’ in 2016, yeah as a fork of Dash. How can you practice such yellow journalism?” One of the authors, John Bardinelli responded, “We left Dash out of the picture because of Dash Evolution. DE redefines the project’s focus.” To which yet another commenter, kanuuker1, fumed, “That’s a total load of crap. Evolution is only the next major update. Our goals haven’t changed in years. Dash has a fully working project and is much further along in its development than every other project.”

Do you think there are too many coins out there? Share your thoughts in the comments section below.


Images via Pixabay.


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TRON (TRX), IOTA (MIOTA), and Ethereum (ETH) Lose Big

Ethereum (ETH), TRON (TRX), IOTA (MIOTA)

The crypto market has been taking quite a beating these past 36 hours. Bitcoin (BTC) is currently trading around the $6,000 mark and currently holds 54% of the total market dominance. Many of the altcoins are suffering, especially Ethereum (ETH). We’ll also take a closer look at TRON (TRX) and IOTA (MIOTA), two other altcoins on the market that are currently suffering big.

Ethereum (ETH) News

Yesterday, the second largest cryptocurrency by market cap fell to its year-low of under $300. According to CoinMarketCap, ETH is trading at $261.46 a coin, down -15.01% in 24 hours. ...

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Crypto Movement: Ethereum (ETH) Drops Below $300 and Stellar (XLM) Passes EOS

Ethereum news

The cryptocurrency market has been all over the place lately with its price movements, and today, most of the top 10 cryptocurrencies are in the red. Today, we’re going to track the latest Ethereum news and Stellar news.

Stellar (XLM) has made a phenomenal rise on the market lately, but it seems that the world’s second largest cryptocurrency, Ethereum (ETH), has dipped to a year-low today.

Ethereum (ETH) Dips Below $300

Ethereum news today has ETH hitting its year-low of below $300, as the coin took an unexpected nosedive during earlier trading. Ethereum hasn’t ...

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Stellar (XLM) and Coinbase Rumors Circulate—Facebook Talks with Stellar

Stellar news Stellar (XLM)

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EOS and Stellar (XLM) Progress—One Step at a Time

EOS

Most of the cryptocurrency market is in the red today, as Bitcoin (BTC) has just fallen below the $7,000 mark. But today, we’re focusing on EOS and Stellar (XLM), and their latest project updates and price.

EOS

The first EOS Global Hackathon took place in Hong Kong back in mid-June. There was a total of 80 teams that participated in the event from around the world, and $144,000 USD was awarded.

The second EOS Hackathon took place in Sydney, Australia over this weekend.

The moment you’ve been waiting for – congratulations to ...

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BitGo Adds Zcash Digital Coin to its Wallet

BitGo has added ZCash: The “world’s most secure Crypto wallet” startup BitGo has added Zcash (ZEC) coin to its wallet and custodial services as the coin has a strong focus on privacy and security – two very agreeable features for BitGo.

The announcement was made by the company today.

“Zcash is a compelling digital currency that many hedge funds, exchanges, and customers have been asking for because of its emphasis on privacy,” BitGo CTO Ben Chan said.

BitGo already houses Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin and Bitcoin Gold. Zcash will be ...

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Qtum Now Offered Through Amazon Machine Image (AMI)

Qtum launches on Amazon Web Services

Qtum, the world’s 22nd largest cryptocurrency by market cap, just made a big announcement which could change the game completely for the crypto project. According to Bitcoin Magazine, Singapore-based Qtum launches on Amazon Web Services (AWS).

Qtum Launches on Amazon Web Services

With this new launch, AWS developers can build and launch smart contacts using Amazon Machine Image (AMI). AMI is made up of Qtum Core, Qmix web IDE, and Solidity.

Qtum is a hybrid crypto platform that was developed by the Qtum Foundation. The project uses the Account Attraction Layer that merges Bitcoin’s ...

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Stellar (XLM), Cardano (ADA), and TRON (TRX) Ride the Wave

Stellar (XLM)

The cryptocurrency market is seeing a lot of green today, as Bitcoin (BTC) continues to climb in price on its 10-day bull run. Bitcoin reached a price of over $8,200 today, the first time this has happened since mid-May. The rest of the altcoins in the 15 have followed suit and are all seeing percentage gains today. Let’s take a closer look at Stellar (XLM), Cardano (ADA), and TRON (TRX).

Stellar (XLM)

Last week, IBM announced that it would be supporting a new stable coin dubbed the ‘Stronghold USD.’ This new Tether competitor was launched on ...

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Cardano (ADA) Finally Made CoinDesk Headlines

Cardano (ADA)

Cardano (ADA) has finally made headlines at cryptocurrencies’ first news source, CoinDesk. Cardano’s co-founder, Charles Hoskinson, believed that CoinDesk was holding a “blackout” on Cardano for the longest time, but it seems that may be over now.

Another example of the @coindesk media blackout on Cardano: https://t.co/4HruIMGoWP we announced that Ouroboros will be quantum resistant last month and even had researchers at Financial Crypto. No quote, no mention

— Charles Hoskinson (@IOHK_Charles) March 17, 2018

Cardano (ADA)

It’s absolutely extraordinary to me that after six months of asking Coindesk still refuses to ...

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Cardano (ADA) and NEO Make a Comeback – Updates and Progress

Cardano (ADA)

The cryptocurrency market made a comeback this weekend, but it seems it has begun correcting itself this morning. Cardano (ADA) and NEO are some of the coins doing well today.

News broke that India’s Supreme Court denied the lifting of the Crypto Bank Ban. The ban will begin on July 5th but could be potentially revoked at a later date. There will be four different petitions that will be revisited by the Supreme Court on July 20th.

This could be the reason why the market has corrected itself, as any news negative towards crypto ...

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EOS and Litecoin (LTC): Good News for Everyone

EOS

It’s green skies for crypto today, including EOS and Litecoin (LTC). What’s happening with these coins?

EOS

EOS is currently selling for $8.34, which puts the coin up 14.06% in the past 24 hours.

EOS had a bumpy start to its mainnet launch, to say the least. And the hiccups certainly aren’t over yet. Despite being up for the last 24 hours, EOS has been dropping for the last seven days, dropping nearly 20% since last Monday.

The coin started climbing again on Sunday, after hitting a low of $7.19, and we’re ...

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Meme-Based Cryptocurrencies: Should We Trust Them?

meme-based cryptocurrencies

Meme-Based Cryptocurrencies: At the end of last year, the crypto market price soared, igniting the mainstream interest in the space that we see today. Despite the popularity, coins like Bitcoin (BTC), Bitcoin Cash (BCH), and Ripple (XRP) continue to take precedence.

But there are hundreds of cryptocurrencies available, with some being meme-based cryptocurrencies. In an age where cryptocurrency and memes are more popular than ever, let’s look at both the pros and the cons to these currencies.

Meme-Based Cryptocurrencies: Yay or Nay?

Last week, at the ‘Yahoo Finance All Markets Summit: Crypto,’ Nick Tomaino, ...

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Stellar Acquiring Chain – True or False? Sources Say True

Stellar acquiring Chain

Reports of Stellar acquiring Chain are floating around this week. On June 20th, Fortune reported that Stellar, the creator of the virtual currency XLM, is in talks to purchase the California-based blockchain startup. But is it really going to happen?

Stellar Acquiring Chain – Real or Fake?

Rumors in the crypto space take different paths. When the fake Coinbase listing rumors spread about XRP, the Ripple price soared. But then it dropped when people realized it wasn’t true.

As for the rumor of Stellar acquiring Chain, the cryptocurrency has neither soared nor plunged. However, ...

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Ontology CarBlock Partnership: ONT Entering the Automotive Industry

Ontology CarBlock partnership

An Ontology CarBlock partnership is forming, as Ontology decides to dip its toe into the automotive industry and join forces with the transportation blockchain CarBlock.

Ontology CarBlock Partnership

CarBlock is, according to its website, the first blockchain-based transportation solution that will eventually lead to easier handling of auto insurance, maintenance, dealerships, and automotive reports.

According to the Ontology press release that was linked from its Twitter, the agreement between Ontology and CarBlock will allow both companies to “collaborate in core technology, integrate business resources, and cooperate in community operations.”

As a part ...

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VeChain Thor (VET) and Ethereum Classic (ETC): Being Accepted

VeChain Thor (VET)

The crypto market is struggling today, and many coins are down, including VeChain Thor (VET) and Ethereum Classic (ETC). However, despite all the red, the coins are progressing in their projects.

VeChain Thor (VET)

VeChain Thor (VET) is currently selling for $3.11, which puts the coin down 14.49% in the past 24 hours.

The VeChain Thor public testnet is now up and running, getting ready to go live at the end of June. Leading up to its mainnet launch, VeChain has announced several big partnerships.

The VeChain Foundation is joining the BMW ...

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The Next 51%: Litecoin Cash (LCC) Under Attack

Litecoin Cash (LCC)

The latest trend in crypto is not one to be happy about. Litecoin Cash (LCC) can now be added to the list of smaller coins that are experiencing 51% attacks.

Several days ago, Litecoin Cash was hit with a 51% attack. When a cryptocurrency is taken over by a 51% attack, it means that the majority of the blockchain has come under the control of one entity with the intentions of stealing cryptocurrency. 51% attacks use a large amount of computing power to do so, making it an incredibly expensive, but effective, way to steal coins. ...

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LBRY Credits (LBC): What is the Digital Library Token?

LBRY Credits (LBC)

The LBRY Credits (LBC) token wants to provide users with a digital library of all sorts of things. The library can include videos, music, and ebooks, and can be accessed from any device.

What is LBRY Credits (LBC)?

LBRY Credits describes itself as a protocol (not a platform) that people can build dApps on. These dApps are then meant to be able to interact with the content on the digital library of the LBRY network.

For example, dApps can let creators upload their own content to LBRY. With LBRY, the creator is the one ...

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EOS and Binance Coin (BNB): Coming Up Hot, Hot, Hot

EOS

EOS and Binance Coin (BNB) are up on the crypto market today, with Binance Coin taking the lead in the top 100 coin race. What’s happening to these coins? Let’s find out!

EOS

EOS is currently selling for $14.03, which puts the coin up 1.99% in the past 24 hours.

EOS’s price has been fairly steady for the past day, with no big jumps in either direction.

Before EOS launched its mainnet, a vulnerability was found in the code that could have caused devastating consequences for the blockchain network. That vulnerability has ...

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Litecoin (LTC) and EOS: Where Do the Coins Go from Here?

Litecoin (LTC)

Litecoin (LTC) and EOS are struggling on the crypto market today, along with much of the rest of crypto. So, where do the coins go from here?

Litecoin (LTC)

Litecoin (LTC) is currently selling for $119.62, which puts the coin down 5.29% in the past 24 hours.

Being down isn’t stopping Litecoin, though. The Litecoin Foundation just announced it was accepting applications to become an exhibitor at the Litecoin 2018 Summit.

We’re pleased to announce that we are now accepting exhibitors for the Litecoin 2018 Summit (Sept. 14 & 15 in San ...

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