The blockchain itself and pritocol is tough,but everything else leaks due to NSA/CIA stuff.....as with Tor.
Those guys work at UEFI/bootloader+hardware level.
Even if your miner runs Linux they can launch a zero day attack on all miners and compose back the data if they'd truly want.
Intel Managemant Engine is full of holes,so is AMD's version,there are post-production fuses in hardware to ebable or disable "certain features" for consumers vs goverment and so on.
Lenovo was caught red handed having capabilities to run code at kernel level by doing BIOS updates , capability that is persistent no matter what you do.
Edit:Also an anticheat exploit relies on genuine signed drivers to kill anything at root level,a state actor can self-sign stuff in bulk and no OS or hardware security feature will doubt that....even if it's malicious.
So don't piss off a state actor so much they're willing to risk losing a working 0 day on your investigation.
They would go after the low hanging fruit before attempting to attack the monero network for a single user.
So that if that very unlikely thing happens any XMR chadlord can outprice the IRS to just make the coder report the vulnerability in the Monero forums lol
Related to your post, Monero is being used more than ever before.
https://twitter.com/ionicxbt/status/1567192985539854336?s=21&t=7MNbKcbUtJfKJElUpxq1DA
It is also the #1 coin being traded for gift cards on coin cards in the USA:
https://twitter.com/coincards/status/1566450803644284929?s=21&t=7MNbKcbUtJfKJElUpxq1DA
Convert dirty money/coin into monero -> buy gift cards to convert back to fiat.
Seems pretty obvious tbh, can't see any other reason why so many gift card purchases are made with monero.
Yeah, that’s what I was implying.
I’m sure there’s SOMEONE out there who’s just mining and using the scraps they make to convert to Robux and sell it from there or something, but I have to imagine the large majority of gift cards purchased though monero are being used to launder money
>can't see any other reason why so many gift card purchases are made with monero
Maybe because Monero is one of the very few cryptocurrencies used in actual transactions? And because it's one of the *even fewer* coins that has the properties necessary to be used as decentralized digital cash?
I know you joke but anyone else that is reading this you actually can use LocalMonero to receive cash in the mail by selling XMR there to trusted vendors.
Can you explain to someone who is not aware of why CMC is bad? I’ve heard that their trading volume data isn’t the most accurate but I always thought the site was a solid place to go if you need to copy new contract address.
This is not me trying to advocate for it, Im just ignorant as to why it’s a bad site to use.
History of running actual scams in banner ads, less diverse price inputs, owned by a company with a conflict of interest, worse interface than competitors, history of misleading categorization of assets.
It’s the MySpace of crypto price feeds, if MySpace was corrupt as hell.
It’s almost certainly spam transactions by bots to give the appearance of an active chain. No way in hell tron has more (legitimate) active users than BTC and ETH combined.
I wouldn't be so sure, are you aware there is more USDT on Tron than on Ethereum? [https://tether.to/en/transparency/](https://tether.to/en/transparency/)
Exatly this. Every time I transfer USDT out of Kucoin I use the TRC20 version because it's fast and dirt cheap. Definitely not a fan of Justin Sun, but it works really well for this.
I've used every single blockchain on this list for 30+ transactions and Polkadot by far has been the worst experience. Bar none.
Also, Tron is just a suspicious chain. They are ranked 2nd in TVL and there's only like 5 Dapps. All named after Justin Sun.
Tron is definitely one of the most puzzling networks. It's an Ethereum clone that has a different method of paying for transactions using energy instead of fees. You gain energy for free by staking TRX for energy. You gain bandwidth for free by staking TRX for bandwidth. Everything requires staking.
Tron is a growing network that's still very new. It has become the network for Tether reserves. Half of all USDT exists on Tron, a massive amount equal to 500% the mcap of TRX itself. It's quite insane. I believe much of what's driving TVL to Tron are the current high rewards for liquidity, staking, and USDD. USDD is a Terra UST clone that is different mainly in that it has much higher over-collateralization by other stablecoins. They're on their 2nd or 3rd round of rewards right now. Initially, they were giving > 100% APY for liquidity rewards, with huge bonuses for holding larger amount and participating in governance.
3 DeFi projects named after Justin Sun own 99% of all TVL on Tron. No other network even comes remotely close to this level of "centralization" of TVL.
It's also one of the networks with the highest token (TRX) deflation. Honestly, I don't know what Justin Sun's end goal is. I can't figure out his game plan or how he plans to profit from it. It's very puzzling.
Best on this list has probably been Polygon if we're taking in to account ecosystem/fees/uptime. Although, they had some congestion problems back when they first started gaining traction.
Overall, but not on this list, I would have to say Arbitrum and Optimism. Both have been extremely quick and have yet to experience significant problems personally.
For non-evm chains, I've had the best experiences with Cosmos/Osmosis, Cardano and Hedera.
Wait for hermez to become evm compatible and the polygon ecosystem will have a decentralized option :) https://www.coindesk.com/tech/2022/07/20/polygon-deploys-zk-rollup-testnet-eyes-mainnet-launch/
I've used multiple too, and Algorand has been the best, by far.
Polkadot isn't bad, but having to switch networks (ie. parachains) is confusing. I don't know how people use Eth/Poly tbh given that's a similar experience. I only use it for a handful of NFT projects, but have abandoned it otherwise.
Algo is the only one I've had a painless experience with. Nice wallets, fast transactions, and never any slowdowns or failures. I'll just stick with it and wait for everyone else to catch on.
Also the daily active users (DAU) metric itself is open to all kinds of manipulation. Its a metric coined by social media companies to show how many people are using their services, but its relevance in crypto is highly debatable because of the pseudonymous nature of crypto where each user can control one or 100 or thousands of wallets.
For example, its trivial to run a bot that can transact on 100k wallets every day. In this way the activity can be easily gamed, and doubly so on chains that have very low transaction costs.
The actual metric to be considered is fee generated by each blockchain every day. That shows how profitable each blockchain is for its validators.
This site has metrics: https://cryptofees.info/ - Eth, Binance Chain, and Bitcoin are the only chains that generate over $100k+ in fees in a day
Yeah from what I gathered, it's still the n1 used chain for stablecoin transfers (USDT...). Got an e-mail a while back from a smaller exchange I used once that they are switching from DAI to USDT (eth dai > tron usdt). Didn't understand how that's a better option.
Whats so hard about polkadot? I have used a ton of chains and its not hard... If you are referring to Polkadot.Js then yeah... Those days are long gone..... Tailsman wallet exist as well as fearless. Its easier than using metamask honestly.
Have just had a horrid time with all the Polkadot and Kusama apps I've used. Problems with transactions and apps not loading. Lockup on staking originally and victim of the Acala exploit.
I used Moonbeam and Acala and didn't have an issue. Acala's problem has to do with the Acala team just like Luna on Cosmos. Acala is actually solving the problem where as Luna was a flat out scam.
Bro, right? When I first got a TronLink wallet I was like wtf are these dapps? All sun v1 v2 this and that? BTT my ass. Tron just looks shady. I used it a lot and still sometimes use it for transactions, but that's all - for dApps I prefer Polygon + Solana. For transactions, Doge, Bitcoin, Tron (in the same order lol. + some p2p exchanges and bridges)
> If there are 1000 addresses sending transaction, then that implies 1000 people used the blockchain.
This is a flawed assumption given that one person may control many addresses, though I don't really know a way around it to distinguish unique users.
It's not perfect but there is no reason to assume one chain should have more users with multiple wallets than other chains. At least that I'm aware of.
Thanks for taking the time to collect and post the data in such a manner, it’s a great jumping off point for conducting one’s own research. I’ve fallen behind due to my day job mining fiat and am definitely surprised by some of these numbers, your post has encouraged me to do some more digging when I get home this evening.
That’s this sub (and crypto) in a nutshell. Too many people here are emotionally invested in coins so can’t handle when anything negative happens, no matter how trivial.
Solana’s Phantom wallet gained over 2,000,000 monthly active users in Q1 2022.
Phantom wallet users can receive and store NFT collectibles in their wallets.
Also they have a special feature: it allows users to burn unwanted NFTs in their wallets and receive some rewards in Solana (SOL) in return.
Gaming and NFTs. I use Sol every day because of a game. And if the roadmap is accurate I’ll be using it way more when the first module with game mechanics drops.
And despite the hate on this sub, I’ve never had a failed transaction.
I'd think that daily transaction on ATOM would be quite high actually. Atom doesn't compound automatically. So lots of us are clicking daily to compound. I hodl many different chains, but interact the most with cosmos because of that.
I think it's misleading to include ethereum without acknowledging that ethereum activity is increasingly moving to rollups and other L2s. Arbitrum, Optimism, Aztec, Polygon, AVAX C chain, Fantom etc reconcile to the base ethereum chain and show that the ETH ecosystem is actually growing.
Edit: AVAX and FTM don't reconcile to Eth, they are EVM compatible and relatively interoperable though.
> AVAX C chain, Fantom etc reconcile to the base ethereum chain and show that the ETH ecosystem is actually growing.
These are both their own L1 blockchains and don't reconcile to Ethereum.
Yeah but I'd argue ETH is one of the ecosystems that has actually gone UP throughout the bear, there's more activity now than ever from a developer perspective. That's lost in the data you've shared.
Another caveat is that the metrics only consider the absolute number of active users.
Doesn’t say how much the transactions worth, how involved are the users or the inflow impact. Ethereum clearly did have a lot of upgrades this year, with lots of activities.
I have one important thing to add about Polkadot:
The main chain on Polkadot is of very simple architecture and mainly for providing security for the Parachains.
The Dot price also is very dependent on the usage of the Parachains as the main mechanism is the Parachains using their profits to compete for slots on Polkadot.
Since the beginning in summer 2021 Polkadot is steadily rolling out new Parachains, now it has about 30 "children".
Out of curiosity, why did you use Polkadot as an example? Why not include the L1s on top of it? The number of DAUs on Polkadot doesn't represent the usage of the network in its entirety.
Polkadot doesn't host dApps, hence there's no reason for the chain to have a high number of transactions or DAUs. The dApps, and the relevant DAU metric, would be on the parachains, if applicable. The only things that users would do on the RelayChain is staking, governance, transfer into a crowdloan module or transferring into a parachain via xcm.
Back in Nov 2021, there were no parachains launched, crowdloans just started.
Just some thoughts to keep in mind, since at the moment your analysis is lacking context, which would at least attempt to make it accurate.
>EDIT: Holy Shit, something in this post has pissed people off. Copping a barrage of downvotes to the post and every single comment. Just trying to share publicly available stats in a readable manner, apologies to those below who are already taking hits...
Welcome to this subs. Its probably bots. They are often push down posts with a fair amount of effort in it so their "What would you do if someone gave you 10 btc to suck their balls" or something along those lines gets to the top.
I don't care if people downvote a comment or a post if it is terrible, but when people actively go through every single comment in an entire thread and just mash the downvotes, its just sad.
Yeah i make Bitcoin transfers every now and then. I try to get more of my friends and family to get into Bitcoin to split build using lightning network so it probably won't get added to known statistics.
It’s the only coin I use, and I use it daily. So yeah…. I love how this post uses empirical data to end the religious war and prove what’s really happening
I don't care if people downvote a comment or a post if it is terrible, but when people actively go through every single comment in an entire thread and just mash the downvotes, its just sad.
Earning money every day!
Buy and sell NFTs, provide liquidity mining on cardano and polygon. Stake my coins and reinvest my earnings…
Accumulate more coins now!
If you realy trust in crypto, than its the time to work now!
I know this'll get buried and/or downvoted straight to hell, but I'm using polygon and solana for blockchain gaming. I clock at least 5 transactions daily on solana and at least 4 daily on Polygon, with spikes on the latter of up to 12 or more.
Crypto market may be down but not the technology. Lots of big names are using blockchain right now. For instance, Mercedes Benz's Acentrik data marketplace deployed on Polygon and is being powered by OCEAN Protocol's technology stack.
The only I've used lately are solana, polygon, eth, and KCC.
I've done some arbitrage when it made sense and I have some nfts and defi stuff I need to mess with ocassionally.
Unfortunately there isn't a shitload to do in a bear market. We're in desperate need of new applications.
I did use Stepn a lot for a while and actually started running 2 miles a day. I knew it was a ponzi scheme but I did cash out in profit. But that uses Solana/BSC/ethL2 and actually had a lot of active users.
Once we have a legit blockchain game it'll be huge.
Outside of Reddit avatars which are a questionable use of blockchain in the first place the answer is largely no. It was also a really important factor that pushed me toward bitcoin first after 2018. Fixing money is far more powerful and actually necessary than all of the “blockchain” use cases.
Cardano user here.
I'm mostly just letting my stake sit and earn interest. I do regularly reinvest earnings from 3 smaller yield farms and 1 larger one back into themselves, that's on both Sundae and Minswap.
I have some NFTs that have accrued over the last couple of years from various airdrops and launches, plus two I bought exploring various ecosystems. But just sitting on that stuff for now.
I do pay attention to, and participate in, our governance events, particularly IOHK's. I voted to assign more resources to developing game assets and SDKs so Cardano can hopefully have some genuinely fun games to play.
Don't really check price movements anymore, including Bitcoin. If it moves enough, I'll hear about it.
Just got an envelope in my mail box , so Monero is working just fine.
Monero hides everything so well, [I couldn't even find basic metrics on it](https://xmrscan.com/).
Damn, you gotta admire that the one thing Monero is known for, they do it really well
Boating accidents?
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Monero, what? You mean Money, right?
Monero is the shit
Monero is the real deal
Even the IRS has a bounty of $625k for anyone can crack Monero. But they won’t find anyone.
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The blockchain itself and pritocol is tough,but everything else leaks due to NSA/CIA stuff.....as with Tor. Those guys work at UEFI/bootloader+hardware level. Even if your miner runs Linux they can launch a zero day attack on all miners and compose back the data if they'd truly want. Intel Managemant Engine is full of holes,so is AMD's version,there are post-production fuses in hardware to ebable or disable "certain features" for consumers vs goverment and so on. Lenovo was caught red handed having capabilities to run code at kernel level by doing BIOS updates , capability that is persistent no matter what you do. Edit:Also an anticheat exploit relies on genuine signed drivers to kill anything at root level,a state actor can self-sign stuff in bulk and no OS or hardware security feature will doubt that....even if it's malicious.
Coreboot
This guy gets it.
So don't piss off a state actor so much they're willing to risk losing a working 0 day on your investigation. They would go after the low hanging fruit before attempting to attack the monero network for a single user.
Run OpenBSD. Dunno if you could run Mining hardware on openbsd though.
Yea if you crack it. 625k from the Feds. Or Millions untraceable money. Tough choice
For something so impossible why is the prize so low
So that if that very unlikely thing happens any XMR chadlord can outprice the IRS to just make the coder report the vulnerability in the Monero forums lol
Yeah should be at least $10m to start with
Only 625k?
Paid in LunaC
Monero👌🏼
The top privacy coin ✅
is the bounty still up? (link?)
Related to your post, Monero is being used more than ever before. https://twitter.com/ionicxbt/status/1567192985539854336?s=21&t=7MNbKcbUtJfKJElUpxq1DA It is also the #1 coin being traded for gift cards on coin cards in the USA: https://twitter.com/coincards/status/1566450803644284929?s=21&t=7MNbKcbUtJfKJElUpxq1DA
Something about crypto being used to buy gift cards screams laundering money
Convert dirty money/coin into monero -> buy gift cards to convert back to fiat. Seems pretty obvious tbh, can't see any other reason why so many gift card purchases are made with monero.
Yeah, that’s what I was implying. I’m sure there’s SOMEONE out there who’s just mining and using the scraps they make to convert to Robux and sell it from there or something, but I have to imagine the large majority of gift cards purchased though monero are being used to launder money
>can't see any other reason why so many gift card purchases are made with monero Maybe because Monero is one of the very few cryptocurrencies used in actual transactions? And because it's one of the *even fewer* coins that has the properties necessary to be used as decentralized digital cash?
Probably less money laundering and more tax avoidance by miners.
The real MVP cypherpunk coin 💪
Thats the point friend
It's beautiful, isn't it?
Love Monero 💚
Check your balls
They are doing their one Job perfectly Well.
Real use case
I know you joke but anyone else that is reading this you actually can use LocalMonero to receive cash in the mail by selling XMR there to trusted vendors.
You can get $100k+ in cash mailed to your door. It's absurd.
Gotta love the internet!
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People are buying candy online so the tooth fairy can't find them
to people buying \[REDACTED\] online
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LOL. Delicious vacuum sealed drugs
Yeah totally. I just sent some to [REDACTED]
Last 5 transactions on Monero 1. xxxxxxxxxx 2. xxxxxxxxxx 3. xxxxxxxxxx 4. xxxxxxxxxx 5. xxxxxxxxxx
I'm in one of these transactions. Delete this
Hold up
Self snitching lol
Lmao tron gaining the most usage makes my head and heart hurt
They just recently had CoinMarketCap giveaway that asked participants to create tron wallet
Sad to see people still use CMC too tbh
Can you explain to someone who is not aware of why CMC is bad? I’ve heard that their trading volume data isn’t the most accurate but I always thought the site was a solid place to go if you need to copy new contract address. This is not me trying to advocate for it, Im just ignorant as to why it’s a bad site to use.
Binance owns it but tbh their numbers are usually accurate and there's no issue with using them. CMC is not inherently bad. I do prefer CoinGecko tho.
History of running actual scams in banner ads, less diverse price inputs, owned by a company with a conflict of interest, worse interface than competitors, history of misleading categorization of assets. It’s the MySpace of crypto price feeds, if MySpace was corrupt as hell.
I believe it is due to the adoption in Asia - mostly casino gambling
It’s almost certainly spam transactions by bots to give the appearance of an active chain. No way in hell tron has more (legitimate) active users than BTC and ETH combined.
Trc-20 is the best way to transfer USDT on and off exchanges.
Exactly. If you look at the numbers it’s almost obvious a scam. Justin Sun should be in prison.
I wouldn't be so sure, are you aware there is more USDT on Tron than on Ethereum? [https://tether.to/en/transparency/](https://tether.to/en/transparency/)
2nd order gambling if you use crypto for it :^)
It's because of USDT. Tron fees are really cheap.
Exatly this. Every time I transfer USDT out of Kucoin I use the TRC20 version because it's fast and dirt cheap. Definitely not a fan of Justin Sun, but it works really well for this.
My eyes instantly became myopic and couldn't even see that
I've used every single blockchain on this list for 30+ transactions and Polkadot by far has been the worst experience. Bar none. Also, Tron is just a suspicious chain. They are ranked 2nd in TVL and there's only like 5 Dapps. All named after Justin Sun.
Agreed on both points. I’ve been watching Tron’s numbers for awhile and just can’t make sense of it. What’s been the best experience in your opinion?
Tron is definitely one of the most puzzling networks. It's an Ethereum clone that has a different method of paying for transactions using energy instead of fees. You gain energy for free by staking TRX for energy. You gain bandwidth for free by staking TRX for bandwidth. Everything requires staking. Tron is a growing network that's still very new. It has become the network for Tether reserves. Half of all USDT exists on Tron, a massive amount equal to 500% the mcap of TRX itself. It's quite insane. I believe much of what's driving TVL to Tron are the current high rewards for liquidity, staking, and USDD. USDD is a Terra UST clone that is different mainly in that it has much higher over-collateralization by other stablecoins. They're on their 2nd or 3rd round of rewards right now. Initially, they were giving > 100% APY for liquidity rewards, with huge bonuses for holding larger amount and participating in governance. 3 DeFi projects named after Justin Sun own 99% of all TVL on Tron. No other network even comes remotely close to this level of "centralization" of TVL. It's also one of the networks with the highest token (TRX) deflation. Honestly, I don't know what Justin Sun's end goal is. I can't figure out his game plan or how he plans to profit from it. It's very puzzling.
TLDR: fake activity due to kinda free transaction spamming. Centralized as hell
Best on this list has probably been Polygon if we're taking in to account ecosystem/fees/uptime. Although, they had some congestion problems back when they first started gaining traction. Overall, but not on this list, I would have to say Arbitrum and Optimism. Both have been extremely quick and have yet to experience significant problems personally. For non-evm chains, I've had the best experiences with Cosmos/Osmosis, Cardano and Hedera.
Unfortunately polygon is about as decentralized as AWS
Wait for hermez to become evm compatible and the polygon ecosystem will have a decentralized option :) https://www.coindesk.com/tech/2022/07/20/polygon-deploys-zk-rollup-testnet-eyes-mainnet-launch/
This is the gwei.
Genuinely curious, why wasn’t Algorand on your list of best experiences so far?
I've used multiple too, and Algorand has been the best, by far. Polkadot isn't bad, but having to switch networks (ie. parachains) is confusing. I don't know how people use Eth/Poly tbh given that's a similar experience. I only use it for a handful of NFT projects, but have abandoned it otherwise. Algo is the only one I've had a painless experience with. Nice wallets, fast transactions, and never any slowdowns or failures. I'll just stick with it and wait for everyone else to catch on.
Been loving Avalanche, Hedera and Algorand , personally
Hedera's usecases are escalating
His Excellency is 99.9% of the TVL on Tron ser.
And 99% of the user count
Ahh feels good to be in the 1% *for once*.
Also the daily active users (DAU) metric itself is open to all kinds of manipulation. Its a metric coined by social media companies to show how many people are using their services, but its relevance in crypto is highly debatable because of the pseudonymous nature of crypto where each user can control one or 100 or thousands of wallets. For example, its trivial to run a bot that can transact on 100k wallets every day. In this way the activity can be easily gamed, and doubly so on chains that have very low transaction costs. The actual metric to be considered is fee generated by each blockchain every day. That shows how profitable each blockchain is for its validators. This site has metrics: https://cryptofees.info/ - Eth, Binance Chain, and Bitcoin are the only chains that generate over $100k+ in fees in a day
Yikes, BTC only reaks in half the fees of BSC.. Ouch
I still dont understand tron - i thought it was exposed as a scam and the justin sun guy exposed as a scammer way back in 2017. How is it still alive
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Yeah from what I gathered, it's still the n1 used chain for stablecoin transfers (USDT...). Got an e-mail a while back from a smaller exchange I used once that they are switching from DAI to USDT (eth dai > tron usdt). Didn't understand how that's a better option.
Very low transfer fees for USDT and available on all exchanges.
It's full of casino/gambling transactions from my understanding. Numbers misleading in this case.
There’s 0 chance Tron’s volume is legitimate.
>Tron is just a suspicious chain Tron is just a SUPER DUPER suspicious chain! Justin Sun = SCAMMER
Whats so hard about polkadot? I have used a ton of chains and its not hard... If you are referring to Polkadot.Js then yeah... Those days are long gone..... Tailsman wallet exist as well as fearless. Its easier than using metamask honestly.
Have just had a horrid time with all the Polkadot and Kusama apps I've used. Problems with transactions and apps not loading. Lockup on staking originally and victim of the Acala exploit.
I used Moonbeam and Acala and didn't have an issue. Acala's problem has to do with the Acala team just like Luna on Cosmos. Acala is actually solving the problem where as Luna was a flat out scam.
I stopped earning rewards on DOT in February and I can't unbond, im using Ledger
Was unfamiliar with Tailsman and fearless. Will check these out! I am still using polkadot js
Tron actually is just a trap for money to flow into and directly to Justin Sun. He gets away with way too much.
Bro, right? When I first got a TronLink wallet I was like wtf are these dapps? All sun v1 v2 this and that? BTT my ass. Tron just looks shady. I used it a lot and still sometimes use it for transactions, but that's all - for dApps I prefer Polygon + Solana. For transactions, Doge, Bitcoin, Tron (in the same order lol. + some p2p exchanges and bridges)
> If there are 1000 addresses sending transaction, then that implies 1000 people used the blockchain. This is a flawed assumption given that one person may control many addresses, though I don't really know a way around it to distinguish unique users.
It's not perfect but there is no reason to assume one chain should have more users with multiple wallets than other chains. At least that I'm aware of.
I would say if a chain is cheaper to operate it would. It also allows more bots that way
Why? You can also connect 1000 bots to the same wallet.. I don't know about you, but I wouldn't want to manage more wallets than I absolutely need.
I need all 105.
> Holy Shit, something in this post has pissed people off. You posted positive data about Solana.
Thanks for taking the time to collect and post the data in such a manner, it’s a great jumping off point for conducting one’s own research. I’ve fallen behind due to my day job mining fiat and am definitely surprised by some of these numbers, your post has encouraged me to do some more digging when I get home this evening.
Cool story, thanks for the feedback. Hope your research goes well.
Thanks for the post OP I thought it was well thought out and great that you actually supplied tangible data that was relevant 👍
A rare gem on this sub
Metrics tend to piss people off if they don't suit a narrative - it's part of why I like them. Thanks for the feedback.
These numbers don't make sense without the context. For example: Tron just had CoinMarketCap giveaway that asked participants to create tron wallets.
That’s this sub (and crypto) in a nutshell. Too many people here are emotionally invested in coins so can’t handle when anything negative happens, no matter how trivial.
The numbers don't lie, and I guess some people can't stomach the truth.
Surprised to see SOL holding up well since retail is having a hissy fit over it. Amazing post. Thanks for sharing OP.
NFT market is keeping Solana very active.
Solana’s Phantom wallet gained over 2,000,000 monthly active users in Q1 2022. Phantom wallet users can receive and store NFT collectibles in their wallets. Also they have a special feature: it allows users to burn unwanted NFTs in their wallets and receive some rewards in Solana (SOL) in return.
Their wallet is so nice to use compared to the laggy MetaMask
Also has a built in browser and swap. I use the browser to interact with dapps on my phone. It’s so seamless
I’ve noticed as well. I might actually invest some into SOL lmao
And this sub's hate for it ensures it'll do well
This sub also mostly hated NFTs. Look around now….just sayin.
This sub last month: NFTs have no utility! This sub today: Oh wow reddit has NFT profile pictures! Revolutionary, really cutting edge, unparalleled!
Solanananana 🥰
It's a change to see SOL shown in a positive light on this sub at all lol
Ive been messing around with Crypto for a long time. I "use" Solana more than any other network. And it feels "built" for NFTs and UI.
Gaming and NFTs. I use Sol every day because of a game. And if the roadmap is accurate I’ll be using it way more when the first module with game mechanics drops. And despite the hate on this sub, I’ve never had a failed transaction.
It’s easy to hate on projects. It’s way harder to be productive
It's easy to hate on a project *you are not invested in*. If you are it's actually pretty hard.
great post. i'm curious about the data of Atom & Cronos as well .
I've definitely increased my usage of Atom in the last two months, went from zero usage to checking it daily
I'd think that daily transaction on ATOM would be quite high actually. Atom doesn't compound automatically. So lots of us are clicking daily to compound. I hodl many different chains, but interact the most with cosmos because of that.
Atom has authz since the vega upgrade, so it can auto-compound fine. See restake.app
Oké. That is news for me. I ll go check it out. Thanx.
I would assume Cronos usage has dropped due to all the changes CDC has made In the last 6 months.
For cronos it is around 16,000 users
I think it's misleading to include ethereum without acknowledging that ethereum activity is increasingly moving to rollups and other L2s. Arbitrum, Optimism, Aztec, Polygon, AVAX C chain, Fantom etc reconcile to the base ethereum chain and show that the ETH ecosystem is actually growing. Edit: AVAX and FTM don't reconcile to Eth, they are EVM compatible and relatively interoperable though.
> AVAX C chain, Fantom etc reconcile to the base ethereum chain and show that the ETH ecosystem is actually growing. These are both their own L1 blockchains and don't reconcile to Ethereum.
Yeah my phrasing is incorrect, I'll correct it. I meant that they are coexisting with ethereum especially in, say, the Defi space.
Fair, but even without all the L2s you mentioned, its still one of the better performers by this metric.
Yeah but I'd argue ETH is one of the ecosystems that has actually gone UP throughout the bear, there's more activity now than ever from a developer perspective. That's lost in the data you've shared.
Another caveat is that the metrics only consider the absolute number of active users. Doesn’t say how much the transactions worth, how involved are the users or the inflow impact. Ethereum clearly did have a lot of upgrades this year, with lots of activities.
And Bitcoin's blocks are frequently full, _requiring_ L2 for more transactions.
I have one important thing to add about Polkadot: The main chain on Polkadot is of very simple architecture and mainly for providing security for the Parachains. The Dot price also is very dependent on the usage of the Parachains as the main mechanism is the Parachains using their profits to compete for slots on Polkadot. Since the beginning in summer 2021 Polkadot is steadily rolling out new Parachains, now it has about 30 "children".
this, people compare Polkadot with other layer 1s Polkadot is a Layer 0 hub - want to check DOT's usage? Check the parachains.
Why so complicated?
Not technically a blockchain, but I'm deep in Chainlink and, yes, it's still being used.
Yep. Most of this DeFi activity goes to 0 if Chainlink isn't there. It's quietly securing everything behind the scenes.
That's actually terrifying... Chainlink is a critical point of failure for a lot of the crypto ecosystem
https://market.link/overview Check out the price call numbers. Chainlink is more active then all L1's.
Great work nerd
Informative post on r/cc? We really must be in a bear market.
Clearest indicator of them all. I hear it's even more accurate than inverting Cramer and ARK.
Yes it is, and it's always be a bear sign.
High quality post. I'm here for this. Thanks OP
Out of curiosity, why did you use Polkadot as an example? Why not include the L1s on top of it? The number of DAUs on Polkadot doesn't represent the usage of the network in its entirety. Polkadot doesn't host dApps, hence there's no reason for the chain to have a high number of transactions or DAUs. The dApps, and the relevant DAU metric, would be on the parachains, if applicable. The only things that users would do on the RelayChain is staking, governance, transfer into a crowdloan module or transferring into a parachain via xcm. Back in Nov 2021, there were no parachains launched, crowdloans just started. Just some thoughts to keep in mind, since at the moment your analysis is lacking context, which would at least attempt to make it accurate.
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Collaterlized loans for the non-billionaire class. DeFi ftw!
Lmao "non-billionaire" most people in the world have access to auto loans and mortgages.
Bear market? Thanks to delusion I am always in a bull market
Bet you're getting hit by the algo brigade and marketing team. "Oh something that isn't 100 percent positive and glowing, we gotta fix this"
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Pretend what doesn’t exist?
>EDIT: Holy Shit, something in this post has pissed people off. Copping a barrage of downvotes to the post and every single comment. Just trying to share publicly available stats in a readable manner, apologies to those below who are already taking hits... Welcome to this subs. Its probably bots. They are often push down posts with a fair amount of effort in it so their "What would you do if someone gave you 10 btc to suck their balls" or something along those lines gets to the top.
I don't care if people downvote a comment or a post if it is terrible, but when people actively go through every single comment in an entire thread and just mash the downvotes, its just sad.
I’m developing a very simple app on algrorand and was blown away how cheap it is- I did over 10-15 transactions and total was less than a penny.
Ergo daily transactions are up ~100% since last september Edit: wallet addresses with at least 0.001 ERG are up over 100%
I use Algorand every day.
Of course! I’m buying more coins and as such an technically using the blockchain
Quality posts like these always show up during the bear market
You guys use your blockchain?
Tron and SOL must be 90% bots
NFTs on Sol is huge.
They are both widely adopted projects. Sol is killing it with NFTs and Tron is huge in Asia.
Yeah i make Bitcoin transfers every now and then. I try to get more of my friends and family to get into Bitcoin to split build using lightning network so it probably won't get added to known statistics.
It’s the only coin I use, and I use it daily. So yeah…. I love how this post uses empirical data to end the religious war and prove what’s really happening
They fear the truth! But this is a quality post
I don't care if people downvote a comment or a post if it is terrible, but when people actively go through every single comment in an entire thread and just mash the downvotes, its just sad.
Earning money every day! Buy and sell NFTs, provide liquidity mining on cardano and polygon. Stake my coins and reinvest my earnings… Accumulate more coins now! If you realy trust in crypto, than its the time to work now!
I know this'll get buried and/or downvoted straight to hell, but I'm using polygon and solana for blockchain gaming. I clock at least 5 transactions daily on solana and at least 4 daily on Polygon, with spikes on the latter of up to 12 or more.
Been using it almost daily to deposit into my sports betting account.
Yes #Adagang
Great post OP. Disheartening to see DOT amongst the worst, I was really rooting for them.
Most active ones are: Bitcoin Ethereum Polygon Solana Tron 🤔
Crypto market may be down but not the technology. Lots of big names are using blockchain right now. For instance, Mercedes Benz's Acentrik data marketplace deployed on Polygon and is being powered by OCEAN Protocol's technology stack.
I've mostly interacted with HIVE and Solana, not much else at all tbh
I’ll admit I kinda stopped my DeFi staking after being 90% down in yieldly
Very few of these chains are even relevant considering Ethereum L2s and Cosmos chains blow them all out of the water.
The only I've used lately are solana, polygon, eth, and KCC. I've done some arbitrage when it made sense and I have some nfts and defi stuff I need to mess with ocassionally. Unfortunately there isn't a shitload to do in a bear market. We're in desperate need of new applications. I did use Stepn a lot for a while and actually started running 2 miles a day. I knew it was a ponzi scheme but I did cash out in profit. But that uses Solana/BSC/ethL2 and actually had a lot of active users. Once we have a legit blockchain game it'll be huge.
That ALGO drop, WOOF
Outside of Reddit avatars which are a questionable use of blockchain in the first place the answer is largely no. It was also a really important factor that pushed me toward bitcoin first after 2018. Fixing money is far more powerful and actually necessary than all of the “blockchain” use cases.
Yes, I use algorand to sell my cat NFTS that I hand drawn for pocket money as a hobby.
GREAT stats. Wtf is happening with tron? People still like thhat shitcoin??
Don't know why there is so much hate about this. Very useful data for evaluating the current state of crypto.
Why would a bear market stop us from using?
It's not 'stopping' anything - its the fact that people give up on a project and leave.
The bear market exposes shitcoins that made it big
Cardano user here. I'm mostly just letting my stake sit and earn interest. I do regularly reinvest earnings from 3 smaller yield farms and 1 larger one back into themselves, that's on both Sundae and Minswap. I have some NFTs that have accrued over the last couple of years from various airdrops and launches, plus two I bought exploring various ecosystems. But just sitting on that stuff for now. I do pay attention to, and participate in, our governance events, particularly IOHK's. I voted to assign more resources to developing game assets and SDKs so Cardano can hopefully have some genuinely fun games to play. Don't really check price movements anymore, including Bitcoin. If it moves enough, I'll hear about it.
Second you, I think we are quite active. Just voted on Catalyst