One of the biggest races in the industry is achieving the most transactions per second. Every projects wants to have the fastest blockchain that can handle the most transactions, but they are forgetting something important. You can have the fastest transaction speed out there, but where are all these transactions coming from? It’s important to realize that not every project is in fact performing all these transactions they claim to be able to handle. Today, we’ll have a look at the top 10 projects out there that have the most active Blockchains. The blockchains that are the most used by people all over the world.
10. Te-Food (TFD)
Te-Food is a blockchain project that focuses on bringing transparency to the food industry. They are doing so by recording each transaction that is happening throughout the supply chain of anything related to food on the blockchain. Think of your fridge right now and what’s in it, ever wondered where these products were made and what route it took to get to your local supermarket? This route is what Te-Food tries to put into reality with the use of Blockchain technology. They have partnered up with over 6,000 business consumers and are performing more than 300,000 daily operations throughout their blockchain.
9. MetaHash (MHC)
This is one of the projects that claims to have the fastest blockchain that can run the most transactions. A perfect example for the use of the actual data that shows their project to be the 9th most used blockchain out there, outperforming many others. They pride themselves for being way faster confirming transactions than big names such as Bitcoin or Ethereum, while at the other hand still remaining extremely decentralized. Their product consists of four elements; Tracechain, MetaApps, MetaGate and the MetaHashCoin. These products combine allow the network to run multiple thousands of operations every single day. There are currently over 300,000 daily operations happening on the MetaHash Network.
8. IOST (IOST)
This is a project that is truly focused on Blockchain technology empowerment. They have achieved the possibility to run decentralized applications on top of their mainnet. This is something that is happening, oh man is it happening. They have slowly risen to the number 59 rank on coinmarketcap and the 8th most used blockchain out there. This is mainly because of the amount of decentralized applications that are running on the network. It are currently more than 30 applications that are running on the network. Besides that, there are possibilities to run a node on the network and therefore, even more action is happening on the network. With more than 300,000 operations on the network every single day, IOST is there to stay.
7. Bitshares (BTS)
Some might have heard about the name ‘Protoshares’, the previous name of Bitshares. The project reaches all the way back to 2015 and has shown many transformations since then. The creator later went on to co-found Steem, EOS and Cryptonomex. The project has seen their value go up and down over the years but have remained constantly present over the years. One of the reasons for this is their innovative systems with features like their ‘BitAssets’, a simple way of handling stablecoins. One of the sources of their operations on their blockchain is the Decentralized Exchange that is running on their network. Where the other operations are coming from is hard to tell when being completely honest. One possible scenario is the implementation of their technology into many other blockchains.
6. Ethereum (ETH)
Currently number two in the ranking when looking at the market cap, but when looking at daily operations Ethereum is on the sixth place. This has been really different, especially with the boom in ICO’s over the years. We have seen that the Ethereum network is not capable of handling too many transactions at the same time, where other projects rose from the ground and took away many of the users of the Ethereum network. This meant that the Ethereum network slowed down in amounts of users. In reality, hundreds of projects are still being hosted on top of the Ethereum network. One of the hopes for many investors and believers for ethereum is the integration of the proof-of-stake system. This will bring even more activity on the network and will simply create scarcity on the network, something that has been out of the picture for Ethereum.
5. Bitcoin (BTC)
You can call this one, the mother of all coins; Bitcoin. It’s still the biggest currency out there that has seen many people holding the token over the years. It’s the one and only coin that’s truly decentralized as no one knows who created the currency. With the longest running blockchain out there, it’s pretty impressive that Bitcoin is still the one with the most activity. With other projects, the biggest factor of these operations are applications running on top of them, for Bitcoin that’s a different story. Most of the transactions, more than 800,000 on a daily basis, are transactions. People sending their bitcoin from an exchange to their wallets, to friends and family or utilizing it as a form of payment. Even though there are many alternatives out there that might be faster, more secure or more private, Bitcoin is still widely recognized as the only true cryptocurrency.
4. Steem (STEEM)
This is supposed to be the ‘social’ blockchain of them all. It’s the project that has taken on the challenge of creating a new social media platform. One thing that’s difficult for any project that is taking on traditional giants like Facebook, Instagram and alike is the difficulty of getting the right amount of users. This is not as easy as it might seem at the beginning, your users need a reason to use your platform. One thing that’s possible within Steemit is earning money for your content. This feature has allowed many content creators out there to receive an additional compensation for the effort of creating their content. The daily operations on the Steemit network, close to 1 million operations every day, mainly come from their social activities. These consists of their blogging platform, a decentralized version of Youtube, Esteem is another platform and Steem Monsters, a game. This ecosystem is growing by the day, impressive to say the least.
3. Kin (KIN)
Do you remember back in the day when texting wasn’t as normal as it is today? The time when text messages actually cost you money to send instead of a tiny fraction of your (probably unlimited) data plan. That’s when Kik was invented, a messaging app that saw their users slowly rise to millions of people across the globe. A couple years later though, Facebook came looking around the corner. Slowly but steady, Facebook grew in numbers and eventually their explosive growth happened. They introduced Facebook Messenger and Kik saw their users taking off on their way to Facebook. Recently, the company behind Kik has launched their own project, KIN. The token is being used as the native currency within their messaging application. There are more than a million daily operations, if there’s actual use case for the token is another question when being completely fair.
2. Tron (TRX)
One of the projects that has been steadily active in the industry is Tron, the lovechild of Justin Sun. It’s a project with their own blockchain that is currently hosting over a hundred different decentralized applications. One thing that’s famous for the Tron blockchain are the dozens of betting applications that are hosted upon. The project has an impressive team behind them that has been improving the product every single day. Lately the project has acquired Bittorrent which is now integrated within the Tron ecosystem. Each and every day the Tron blockchain is hosting more applications on their blockchain. The token price has been stagnant but steadily on the top in terms of market cap. In terms of operations, they are steady number two, just behind the number one, EOS.
1. EOS (EOS)
One of the most money that has ever been raised by a company, not even by a Blockchain company. There aren’t that many companies going out to raise several billion dollars, EOS did. They have since then created their own blockchain that is aiming to revolutionize many industries. One thing that’s pretty hard to believe when observing the amount of daily operations, is the amount. Where tron reaches little more than 1 million transactions on a daily basis, EOS reaches close to 20 million daily transactions. Where tons of critics say these transactions are not what they are, EOS is going hard against this. The AnChain team is on one side claiming half of the transactions is performed by bots, where EOS is claiming that it’s impossible to forge EOS transactions. The reality remains unclear. It is a fact that there are loads of decentralized applications running on the EOS blockchain, whether the amount of 20 million daily transactions is true, that’s hard to tell.
There we have it, the top 10 most used blockchain projects out there. When investing in a project it’s always important to do your own research. Especially when a project claims to be hosting dozens of transactions on a daily basis, you should always check to see if this is in fact happening.