Most used Cryptocurrency for 2019 | The Dominance Fight
The fight for Crypto dominance is real. Every coin wants to fetch the spotlight from Bitcoin and surpass it as the number one Cryptocurrency. But this can’t happen without competing Bitcoin by the number of use cases, transaction, and community growth. Bitcoin has seen exponential growth among many Asian and European countries in terms of acceptance. With more than a million merchant accepting it as a medium of exchange the Altcoins look for some other ways to dominate the Crypto sphere.
You might already be aware with most of them such as Dash, Neo, Litecoin, and etc but not all of them process the same amount of transactions as Bitcoin. In fact, some Altcoin process more transaction than Bitcoin but still are not able to dominate the total Coinmarketcap. Any guess which is the most used Cryptocurrency for 2019? Well, from a top-to-bottom list it includes
Sorry to pop your bubble if you were guessing Bitcoin or Ethereum. Rather, Tron is the most used Cryptocurrency by daily transactions. When speaking about Tron there is no doubt that it has a lot of potentials to overcome most of Ethereum’s feasibility issues. But it is still a young Blockchain and, needs more time to dominate the ICO and Dapps market.
Upon its inception, Tron quickly gain a lot of support from the Crypto community. Many developers quickly begin integrating it in their Dapps such as Casinos and Games. In fact, you can also browse most of the popular Tron Dapps here. As per the data from Tron Block Explorer the Blockchain process an average 2.1 Million transactions on a daily basis. This is quite far from what Bitcoin and other currencies usually process.
Perhaps, the expeditious growth of Tron may be linked to the popular Dapps operating on its network. Which alone boasts around half a million transaction per day! You can also read more about Tron here.
Sorry for another burst to your imagination but average daily transaction on XRP easily beats Bitcoin and Ethereum. Ripple, also termed as the banker’s coin boast around 875,000 transactions on a daily average. Release back in 2012, by Ripple Labs Inc to cater the banking needs and reduce the transaction cost. The coin rapidly became popular to dominate the Coin marketcap. It now ranks among the top 3 Cryptocurrencies by market capitalization.
There might be several reasons for this Cryptocurrency to outperform its rival in terms of daily use. This can include the fast transactions on the XRP ledger. Transaction on Ripple network comes within 5-10 minutes after initiation. Besides, I have used XRP several times to transact money across the border within a little span of time and it has always lived up to my expectations.
And finally, Ethereum makes it to the third most used Cryptocurrency of 2019. You might already know this ICO and Dapps powering Crypto. Ethereum was made by a Russian-Canadian developer namely, Vitalik Buterin. The coin quickly gain attraction among the Crypto community by fueling popular ICOs such as Binance, Bancor Network, and etc.
Ethereum was in fact, the most used Cryptocurrency back in early 2018 and surpassed XRP quite a lot of time. But eventually, Ether failed to maintain its position and now boasts a daily volume of 610,000 transactions on average. However, Ethereum is still popular in Dapps community and still fuels a lot of decentralized projects.
Well, the king is here. Bitcoin might be the dominant Cryptocurrency by market capitalization and fuels the industry. But it is not the most used one. This might be because of different reasons, such as use cases, block generation time, and etc. Obviously, we are not going to debate the reasons for now.
Bitcoin dates back to 2009 and is the backbone of the Crypto market. The technology comes up with a block generation time of 10 minutes and operates a decentralized financial ecosystem. It is ranked as the number Cryptocurrency since its release and has strongly been holding this position despite the popular concept and believe of The Flippening.
As at the time of this post, Bitcoin boasts daily transactions of around 300,000 on average. This might seems significantly lower when comparing it to Tron (TRX) but this definitely doesn’t mean that Bitcoin would die or goes obsolete in the future. In fact, Bitcoin is widely used as a medium of exchange on several online stores and companies.
Wrapping it Up
Cryptocurrency is a volatile industry. The usage of the coins can highly fluctuate depending on the occasion and market sentiment. At times, coins such as Dash, BSV and, etc have recorded more transactions than Tron over a day. Hence, high usage of Cryptocurrency can fluctuate extensively and shouldn’t be a basis for investment. When it comes to Crypto, it is essential to do thorough research about the coin and team, picking one up just because of the volume and the number of transactions is not likely a great strategy!