In most of 2018, the crypto top 20 was a joke. Most of the projects ranking highly had no justification to be there. Most of them being too centralized, with no fundamentals, and are driven by nothing but hype. But there is some light at the end of the tunnel.
Good projects are slowly on the rise, which gives hope that the market is getting more mature. It’s a sign that investors now understand what blockchain is all about. For instance, a project like Litecoin (LTC) is now back into the top 5, and with its current moment, could rise even further. However, the projects that speak most about crypto maturity are Tezos (XTZ), and Cardano (ADA).
Some time back, Tezos was outside of the top 20, and most of the projects above it didn’t even have half its fundamentals. Today, it ranks 17th and is showing signs of strength. If it continues with its current momentum, Tezos should be in the top 10 within Q2, or some time in Q3 this year. There are a number of factors that make Tezos such a high value blockchain. For starters, its governance is one of the best in crypto. It avoids a scenario where the project could ever get centralized.
Tezos is governed by a digital commons, who have the same goals towards the project. Its governance model incentivizes continuous improvement of the project rather than hard forks that split the project. All the recent Bitcoin forks have shown that chain-splitting hard forks are not the best way forward for blockchain projects. The fact that Tezos (XTZ) has this built into its model goes to show that it is a project worthy of a place in the top 10. Other amazing attributes to Tezos include formal verification and the fact that there is a monetary incentive for developers, which eliminates the possibility of developers getting funded by centralized entities.
Cardano (ADA) is another project that is making huge moves and deserves its current spot in the top 10, and possibly much higher. This is a project that is guided by the need to get things right, and not rushing things through just for a quick pump. Cardano is founded on the science philosophy, and everything about it is peer-reviewed.
For instance, its Ouroboros POS algorithm is one of the best in crypto space. It eliminates the energy needs of POW, while at the same time giving Cardano (ADA) the same security as the Bitcoin blockchain. This is a big deal considering that most POS blockchains at the moment are yet to strike a balance between decentralization, security and scalability. Once Shelley is released, Cardano (ADA) is about to become one of the most practical and decentralized projects out there. It definitely deserves a spot in the top 10.
As this space becomes more mature, the top 20 will be very different. The best are finally taking their rightful place at the top. Next could be Digibyte (DGB) making it to the top 20.