While there are many ways of assessing the performance of a cryptocurrency from today’s metric standpoints, the most common market indicators are usually the market cap and trade volume of a particular digital asset. Also, with the release of so many different cryptocurrencies into the market, there are bound to be some gems that get lost in the fray.
Staying on the subject of currency evaluation, we can see that altcoins that have a lot of GitHub activity going on, are usually the ones that have the most promise. Thus, bearing this principle in mind, we can see that CryptoMiso is an all new “crypto evaluation website” that logs and charts the Github activity for more than six hundred currencies, and then ranks them using a host of specialized parameters.
More About Cryptomiso
In its present incarnation, Cryptomiso possesses market data for 611 alt-coins. Through the use of its specialised algorithms, this online interface is able to “chart the frequency” with which the codebase of each individual currency is updated. After performing its evaluations, CryptoMiso shows users the top five crypto performers on a day to day basis. The evaluations are based on “developer activity” and other crucial data that is obtained from the interwebs.
As per the 31st of January, 2018, Cardano is leading the way with over 6,500 commits from 51 contributors. It is followed by other upcoming names such as Lisk, Waves, 0x, and EOS. Some of the big names like BitCoin and Ethereum come down later at a ranking of 7. Another shock entry is GlobalToken, that is currently ranked in the sixth spot. As per our research, this currency has only recently been listed on CoinExchange and holds a market cap of $350,000.
Are There Any Issues I Should be Aware of?
While this idea is really nice and novel, there is one intrinsic flaw in this entire setup. The Github ‘commit frequency’ is only an indicator of code maintenance, and does not reflect the quality of updates.
As a result of this, even small bug fixes, minor changes are treated as major updates (like the incorporation of Lightning Network etc). Thus, when using CryptoMiso, users should only think of it as a broad indicator, rather than a highly specialised trade evaluation tool.
Which Are Some of the Worst Evaluated Currencies?
As per the CryptoMiso website, the bottom of the pile consists of names such as Bigup, Tittiecoin, Fedora Coin, all of whom are ranked below the 580 mark. However, some of the more well known currencies such as Red Pulse and Substratum were also ranked quite low on the list (sub 500).
Where Do the Biggest Names Stand?
As per CryptoMiso, the biggest names within the crypto domain are ranked as follows: BTC (7th), ETH (41st), XRP (104th), BCH (94th), ADA (1st). Other big names include:
- Stellar (71st)
- Neo (162nd)
- Litecoin (27th)
- EOS (5th)
- NEM (238th)
This service is absolutely free of cost, and to make use of it, all one has to do is visit the official company website. However, as mentioned earlier, the information supplied by CryptoMiso is solely based on GitHub activity data, and thus should be used with caution (especially for investment purposes). However, when accompanied with additional market analytical research, this tool can assist investors in making better trade judgements.