Activity on the blockchain intro
I never taught I will come across this strange definition on how to can evaluate a blockchain. A blockchain is simply a database that is immutable to any alteration where you can be confident your transaction or data is safe forever.
On the market, you have a mix of public and private blockchains. Companies develop solutions to remove the middleman on every industry imaginable, sometimes you just need to be creative and find a suitable niche.
The value of the activity on the blockchain
What gives the true value of the activity on the blockchain? This is an interesting question that every user should ask themselves at a certain point.
Imagine one instant a blockchain with users who makes transactions. You decide to transfer money to another side of the planet earth, when you proceed, the transaction is recorded on the blockchain. What is the more interesting, the transaction will be recorded forever and accessible indefinitely!
The real value of the activity on the blockchain are:
- The more activity on the blockchain, the more value you have.
- A good indication that real people transact on the ecosystem.
- The price increase when the platform is growing.
The website that lists the activity on the blockchain
I discovered this list that has a huge amount of daily transactions on their blockchain. A strong indication that gives you information from an investor perspective that the ecosystem is bound to a real community.
The magic formula: Transactions + People + Activity on the blockchain = Real Value!
On the website, you can find the following crypto: Steem, ETH, BTS, BTC, LTC, Golos, ETC, DOGE, BCH, ZEC, DASH, and PPY. I presume that in the near future, many other projects will be available on this site.
You can check the activity on the blockchain here: Blocktivity
The activity on the blockchain shows you the projects that have real users in their ecosystem. As you may notice, a lot of projects have no real value and are there to only make a quick buck for the scammers. You need to always make sure you invest in a tangible project that produces real value.
When you have real activity, you have real value under the hood. Now, you have another metric to evaluate a project you are interested to invest in before putting real money on the table.
I invite you to read this post for others areas to push further your research: Crypto Market Cap – It is not the Only Indicator at your Disposal
What do you think of this metric?
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