Post
Topic
Board Altcoin Discussion
Re: December 2015 "Fastest Crypto" Bake-Off
by
wingspan
on 12/10/2015, 18:46:23 UTC
I'm trying to measure with this bake-off just the first one of 14 attributes of a good crypto.  I understand it isn't measuring the best overall crypto.  Please don't assume any crypto can't be the best based on present development or code review status.  We each pick a favorite - but the more objective data, the better.  And having a little fun, doesn't hurt, either.

IMO, here are 14 attributes that make a good crypto candidate trying to go mainstream:

  • Has (or designed to have) the technical capacity to replace all fiat transactions (sustain 100K TPS) whenever needed.
  • Is 100% decentralized. It can not be controlled except by the majority of the public.
  • Has (or designed to have) a stable price and one's savings are safe from being devalued.
  • Has (or plans to have) good marketing.  Has cool characteristics that might appeal to billions.
  • Is secure (supports 2FA, etc).
  • Is easy (like a debit card).
  • Is cheap to use (nearly free).
  • Does not waste energy or resources.
  • Is as private/anonymous as a user wants.
  • Fair distribution opportunities - no insider advantage before nor after launch. Everyone is rewarded in proportion for the work performed and the money risked.
  • Has endured long-running global tests.
  • All code has undergone (and will continue to undergo) thorough code review (by trusted third parties) before going into production.
  • Is well documented.
  • Is flexible, modular, or has promise in helping society in new ways not yet invented.

Of course having the following additional attributes help - but impossible for new cryptos - takes time:
  • Has a large network effect behind it - a large ecosystem - lots of merchants, infrastructure.
  • Has proven security where years have gone by without a major core breach.

-cheers.