Topic: The Tiers of Crypto: Where does your favorite blockchain rank in the pantheon? (Read 2252 times)

Dash and XMR both have the same goal.  But where DASH does it with a complicated network of aristocrats (because DASH is based upon bitcoin and coinjoin technology in a certain way), monero uses a totally new cryptographic concept, namely ring signatures (introduced by cryptonote), and as such, decentralizes cryptographically the half-centralized coinjoin technology in DASH.

Anonymity is absolutely needed to obtain fungible money, and to obtain cash-like properties, something bitcoin failed to provide.  Now, in the same way that bitcoin is traceable and has non-fungible coins unless they are mixed, but that until now, that seems to work, DASH has solved this problem but by re-introducing a form of centralisation and gouvernance.  Monero (in fact cryptonote) has solved this issue in a totally decentralized way for the first time, using ring signatures.    In fact, DASH did the best it could but the essential technology was lacking.  Ring signatures were the tech needed to allow for automatic anonymity.  It is still not used enough in crypto, because ring signatures have amazing potential in many domains.  I would think that the step from normal signatures to ring signatures is comparable to the step from symmetric crypto to public key crypto: a whole pan of possibilities opens up.  Where the step from symmetric to public key crypto allowed for matters like trust, ring signatures allow for matters like anonymity.

To give you an idea: if ethereum were build onto cryptonote, then the fork would not even have been possible to consider.  If ethereum were based upon the DASH system, it would have been possible if the masternodes colluded over it.

If Monero is so good, why is it less expensive than ETH, litecoin or ETC?
Are people not aware of its potentials, or the whales are just not interested in this coin?

Let me guess, you own Monero right?

God-Tier  
These blockchains are the gold standard, built upon careful cryptographic principles with lots of support from esteemed mathematicians and computer scientists.  These are the true blue chips of crypto, coupling unique algorithms with clearly defined purposes for existence.  They may yet have flaws, but they are at least advancing the art, and all of them fairly launched with no premine/ICO nonsense.  Not only do I own these, I usually consider them as default units of account.  
  

• Bitcoin: The coin father of them all.  Original PoW algo, and a unique purpose for existence.
• Monero: The first crypto to significantly advance the art beyond Bitcoin with a unique mining algo and actual privacy, untraceability, and fungibility built in.

 
  
High-Tier  
These blockchains may have some technical hurdles to overcome, and/or may have launched with distasteful features such as ICOs, but they represent a quality project which aims to advance the space and do something unique and valuable.  I usually own at least some of these projects when I am looking for a quality investment.  
  

• Ethereum Classic:  The first major programmable blockchain, it may have launched with a strange ICO and perhaps the Turing complete nature makes it a nightmare of vulnerabilities, but it has a lot of potential to radically alter the way we look at decentralized computing.
• SIA: The premier blockchain for data storage, it could eventually rival massive cloud storage operations.
• IOC: A unique value proposal, IOC aims to be the glue that holds the other blockchains together with things like name registration and other advanced features.
• Bitcrystals: An innovative idea - release a collectible trading card game and use profits to buy and burn proprietary Counterparty tokens off the open market.

 
  
Mid-Tier  
These blockchains don't do anything really innovative but are highly supported clones of other popular projects.  They could conceivably hold some value going forward, or even move to high tier if they continue to innovate where their parent project does not.  
  

• Litecoin: The original clone coin, is still considered crypto-silver by many.
• Dogecoin: Very middle.  Still going. wow.
• Aeon: A Monero fork/clone focusing on pruning and lightweight operation.

 
  
Low-Tier  
These blockchains have significant issues with coin distribution or value proposition which aren't due to outright dishonesty or malice.  It is unlikely they will be viable in the long term, but there is a small chance I am wrong.  
  

• Steem: A core group of insiders hold 90% of the voting power and shower boobs and Bitshares posts with scrumptious crumpets while genuine quality content earns scraps!?  Oh boy, sign me up.
• Factom: So what would you say.... You do around here?

 
  
Shit Tier  
Scams, broken nonsense, and blockchains which bend to the whims of whales.  Stay away at all costs.  
  

• Dash: Ninja/Instamined garbage which uses a 'Masternode' pyramid scheme to incentivize protocol-level coin-mixing.  Unfortunately is highly vulnerable to Sybil attacks along with other potential attack vectors.
• VCash: The lead Dev has stolen code, radically fucked with the block rewards in early mining to his own benefit, and still hasn't produced an open source and verifiable proof of his miraculous claims.  Stay away.
• Ethereum Hardfork:  Programmable blockchain which will fork when necessary to protect the financial interests of whales and large holders, including bailing them out from bad code.  Essentially a centrally controlled cloud server to practice code on, but that doesn't mean the tokens should hold monetary value.
• Ripple: A premined and centrally controlled token by Google which has no value proposition whatsoever since its centrally controlled, and no fundamentally different than fiat held by a bank.

If Monero is so good, why is it less expensive than ETH, litecoin or ETC?
Are people not aware of its potentials, or the whales are just not interested in this coin?

If Monero is so good, why is it less expensive than ETH, litecoin or ETC?
Are people not aware of its potentials, or the whales are just not interested in this coin?

Ripple and Stellar are chainless, and they're shit-tier, so it won't be first, whatever else it is.

Nyancoin actually had a maintenence release a few months ago to fix some old vulnerabilities and bugs, so I wouldn't say it's dead, but certainly niche at this point.

Did you hear me running around blathering that "market cap" means anything for any coin ever? I doubt it, but if you want to dig through my post history feel free

When NXT was in 20th something place and Monero in 10th this fact didn't matter, now it suddenly does? It either matters or doesn't, can't be both depending when it suits your agenda.

Market cap doesn't mean all that much when you initially distribute all the coins to a few people.

...

Last time I checked NXT is well above Monero, the God-Tier. Not so shitty after all, eh?

ETC can't make NXT obsolete, same as ETH can't. But I heard Vitalik boasting of adding a sidechain to ETH and ETC will copy it to make Monero obsolete.

NXT?  At this point, what difference does it make?

NXT is less important than BBQcoin, because at least I still want to eat BBQcoin.

Ardor?  GTFO with your latest token-as-a-platform scam.

ETC makes NXT more obsolete than ETH over could.

Just give it up.  You and the DiamondCoin dead enders have no hope; your zombie coins are just minor footnotes in shitcoin history.

At least Dash managed to schlep a soda machine 1000s of miles just to take a selfie with some dude named after a shitty anti-virus.  

The media blackout of NXT is so funny. Conspiracy is strong in this one.
NXT didn't even make it to the Shit tier.
If you don't mention it, it will go away? Fat chance

Good thread. Bitcoin of course is the real gold standard. The entire planet will move around this blockchain the next decade. This is the real deal.

Monero is also a solid coin, but lack's the magical aura of Bitcoin because Monero is a fork from Bytecoin. It's the first, non forked, longest survivor and the extra coolness of an anonymous creator.

So I would say Bitcoin stands in a category of it's own.