There isn’t one crypto that can be labelled as the best one, not bitcoin, not ethereum, not XRP, not Litecoin. They all make big claims, and all those claims are for the future, not for now.
But, the ranks are going to be toppled soon. There is a whole lot of speculation and thinking put into it, analysts and enthusiasts are waiting for it.
The Flippening is around the corner. How to measure it?
There was no serious competition to bitcoin when it first launched because it was the first one. For six years there was no competition. Then Ethereum came out as a modification in the initial Nakamoto consensus of the bitcoin’s genesis block.
A year and a half ago in February 2017, Bitcoin’s market capitalization represented 86.74% of the total market capitalization of all cryptocurrencies. Since then, even though its unit price has risen, Bitcoin’s market share has fallen precipitously. At the same time, other cryptocurrencies, especially Ethereum, have rapidly gained market share. The increase in market share will ultimately beat bitcoin for its lack of creativity, up-gradation and scalability issues.
There are several metrics that measure the usefulness, value, or importance of a cryptocurrency. But most times the “flippening” refers to Ethereum overtaking Bitcoin in market capitalization specifically. You can look for the current stats and situation here at the Flippening.watch web portal.
While there are a lot of ways that you can go figure out the current market trends here are a few options to look into, various Metrics include:
Market Capitalization: Market capitalization (market cap) is the market value of a publicly traded company’s outstanding shares. This may refer to the money supply multiplied to the currency’s value.
Transactions in the past 24 hours: This is compared to derive at a conclusion that which currency is being used more, but this discounts the transactions that are not taking place because the money is being used as a store of value or as a reserved asset.
Other ways of gauging which currency is doing better include monitoring the Trading Volume in the past 24 hours, Mining Reward Distributed in the past 24 hours, Nodes and Google Trends Data.
Bitcoin’s launch was a launch of a new era. This meant that times had changed. New blockchain after blockchain, things only improved. Leading to a great success in development and improvement in lifestyles worldwide. The drama will not stop.
If you are as excited about the flippening with us then keep up, there will be more on this!