Top Crypto Project Weighed Up In A Spreadsheet Titled “Privacy Coin Matrix”
There is a tribal nature to the following of cryptocurrencies which makes it difficult for an individual or a group to do a fair assessment on a particular coin. To make this appraisal more objective, someone spent a rather great deal of time and effort curating all of the information presented on this google sheet titled, “Privacy Coin Matrix” – and is currently trending and doing rounds on the Internet for how much information it gives.
Here is the top privacy-focused cryptocurrency coins they examine:
- Bitcoin Private
The Google spreadsheet points out the differences between different cryptos.
Not only does the sheet evaluate popular blockchain networks like bitcoin, ether, monero, and dash, but also lesser known projects like phore, sumokoin, and zoin. The extremely comprehensive list collates assorted aspects as coin supply, algorithms, and other variables.
There were many facts that surfaced just by taking a glance at the sheet. In the ‘Privacy’ section, for example, you quickly see that most of the coins have no cryptographic privacy.
List of all the Sections on the Privacy Coin Matrix Sheet
- Description (brief introduction to each privacy cryptocurrency)
- Resources and History (whitepaper, github, bitcointalk forum, founders)
- Coin Specs (blockchain security mechanism, algorithm, staking, block size)
- Blockchain (genesis block date, days active, block heights)
- Development (Github links, team sizes, fork or not)
- Trading (coins market cap, price, volume and % value/volume charts)
- Supply & Distribution (circulating/total/max supply, start dates, addresses)
- Economics (Block Rewards, miners or stakers, masternodes, inflation analysis charts)
- Privacy (Cryptographic Privacy Sender/Receiver,Balances, Model & Many Other signals)
- Features (Instant Send, Protocol Governance, Voters, Uniqueness, Multisig Support)
- Scaling (Planned Scaling Model, Transaction Optimization and Throughput Details)
- Wallets (Ledger, Trezor, Coinomi, Jaxx, Native Mobile Wallet, Desktop App, Web Wallet)
- Network and Masternodes (largest miner pools, entities over 51%, masternode costs)
- Community (Reddit website URLs for each subreddit and subscribers, active users)
Another interesting trend is the distribution in many of the coins; 25 percent of the coins have 70-80 percent of their supply owned by the top 100 addresses.
This is ironic in the sense that the ownership of cryptocurrency at the end resembles the wealth inequality of fiat currencies.
Scalability is another factor paid close attention to. In terms of max theoretical transactions per second (tx/s) and max theoretical private transactions per second. Bitcoin is already seeing the limits of what the network can handle, an issue that only gets bigger as time passes by.
Inflation is another factor to consider when investing, as this attribute is not captured by many metrics such as market capitalization.
Even though the sheet is aimed at objectivity, there were instances where it could be pointed that the evaluation process is biased against some coins. One of the cryptocurrencies which were on the losing end of the prejudice was Dash.
Dash was not instamined but it was fastmined. There is a big difference between the two. Dash does not require trust in the network for privatesend as stated in the article, it is a completely trustless system.
The attempt was a good one and credit has to be given to Reddit user /u/turtleflax for going through the painstaking process of making the sheet. The anomaly in this sheet just shows that any evaluation process will see someone lose out who will think that the appraisal was unfair. However, this should not stop the attempt to make an objective rating system.