The Most used Cryptocurrency for 2019
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 obviously happen without competing Bitcoin by the number of use cases. Bitcoin have 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.
Definitely, 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. You will be surprised that some Altcoin process more transaction than Bitcoin but still are not able to dominate the Marketcap. 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 have a lot of potential to overcome most of Ethereum’s feasibility issues. But it is still a young Blockchain and of course, 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. I myself have used XRP several times to transact money across the border within a little span of time.
And finally, Ethereum makes it to the third most used Cryptocurrency of 2019. You might already be aware of 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. Maybe we should say thanks to vast Ethereum Dapps and popular Ethereum based decentralized exchanges on the network.
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 rank as the number Cryptocurrency since its release and has strongly been holding this position despite the popular concept and believe of The Flippening.
As of now, the Bitcoin boasts daily transactions of around 300,000 on average. This might seems low when comparing it to Tron (TRX) but this definitely doesn’t mean that Bitcoin would die or goes obsolete in the near 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. You might be reading the above post to have a better understanding of the volume of different Cryptos. Because more usage means stronger fundamentals and committed team.
In fact, this is not the case. There have been events where coins such as Dash, BSV and, etc have recorded more transactions than Tron over a day. 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 is not likely a great fit!