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Ethereum [ETH] shows greater developer behaviour than Bitcoin [BTC], reveals new metric

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Ethereum [ETH] shows greater developer behaviour than Bitcoin [BTC], as new CoinMarketCap metric reveals
Source: Pixabay

Ethereum [ETH] may be trailing Bitcoin [BTC] on the global coin chart, but a new metric by CoinMarketCap puts the altcoin ahead. The new metric measuring ‘project health,’ is designed by the crypto-centric IT company, Flipside Crypto.

Titled the ‘Fundamental Crypto Assets Score’ or the FCAS, the metric evaluates a coin based on a pre-determined set of three core algorithms. Customer Activity, the first core algorithm looks at the network, smart contracts, wallet addresses and records the overall utility of the project.

As described by Flipside Crypto,

“The fundamental is derived by ingesting all activity within a specific blockchain, parsing methods where appropriate, (ie: in ERC-20 smart contracts) and labeling wallet addresses to identify exchanges, projects, contracts, users, and other types of participants.”

Developer behaviour, the second core algorithm, looks at code repositories to evaluate the nature of the development community within the coin’s network. Changes within an ecosystem’s code and the developer response to the same is analyzed.

Market risk, the final algorithm, looks at the market performance of the coin, as well as periodic market movements and market sentiments affecting the price. Consistent returns in terms of risk and money supply factors are studied. The indicator also looks at trading strategies, market returns and market maturity of the coin.

Flipside Crypto also mentioned that out of the three algorithms within the FCAS, Developer behaviour had a “high impact” on the metric. Prime advancements in a project are spearheaded by developers. The FCAS analyses the buzz in the developer community, prior to a major announcement.

“We often see developer activity ramp up prior to a big announcement. On the healthiest projects we see a consistent amount of activity relative to others.”

The company mentioned that they procure all the data through the project itself, and dissect them internally by cleaning and analyzing the elements, after which the data is assimilated into their custom models.

At press time, the Bitcoin’s [BTC] FCAS score was 885, trailing Ethereum [ETH], which had a score of 909. Notably, the rating given to Bitcoin was “A,” while Ethereum got an “S.” XRP, the second largest altcoin also got an “A,” and a score of 751.

The FCAS lauds the Ethereum developer behavior, in addition to the network and the market sentiments of the investors. A recent report by Electric Capital, a virtual currency asset management firm attested the FCAS rating, stating that the Ethereum network had the most amount of developers working on base protocol, when compared to other cryptocurrencies.

Electric Capital stated that on average, 216 developers contribute code to ETH repositories, based on over 20,000 code repository fingerprints obtained by the firm. Bitcoin developers only contributed 50 per month, while EOS, TRON [TRX], and Cardano [ADA], boasted over 25 developers per month.

The FCAS of the two top cryptocurrencies on the market,



 

Litecoin [LTC] joined Bitcoin and XRP in the “A” category, recording a score of 756. EOS joined Ethereum with an “S” grade and a score of 914, the highest in the coin ladder. However, Bitcoin Cash [BCH] performed extremely poorly on the FCAS scale, recording a health score of 532 and a rating of C.

The Ethereum community was also buoyed by a recent report from Delphi Digital, which stated that Ethereum, and not BTC, would lead the next bull run. The study made this conclusion based on the volatility of the coins to the market, and to each other.  In terms of price volatility, ETH fluctuated far more than BTC in the past six months. Further, the altcoin edged past Bitcoin when the intra-market correlation declined.





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Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra

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Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra
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Bitcoin [BTC], the world’s largest cryptocurrency, saw a significant surge earlier this month, helping the coin break strong resistance at $5,000 and $5,200. Following the great fall of the king coin in early 2018, the Bitcoin ecosystem was struggling with scalability and technological issues, eventually leading to the hard fork.

Bitcoin.org’s Cobra, who is also the co-owner of Bitcointalk.org, has always maintained that Bitcoin was the cryptocurrency to look out for through his various Twitter bouts with prominent personalities in the cryptoverse. Due to his strong, unbridled support for Bitcoin, he has often trashed altcoins for their low market dominance.

In a new Twitter thread, Cobra spoke about the “biggest threat” to the Bitcoin ecosystem. Even though many crypto-enthusiasts believe that governments and technological issues were the biggest threats to the king coin, Cobra had a completely different opinion.

According to the Bitcoin maximalist, users have the potential to signal Bitcoin’s doom. His tweet read,

Source: Twitter

Source: Twitter

Though most Bitcoin supporters usually support his opinions, this tweet was met with a lot of resistance. Twitterati swarmed the thread in an attempt to prove him wrong. A user named @MrHodl alleged that this could not be true as Bitcoin had “no community.” He added that this, in turn, prevented toxicity in the ecosystem.

Cobra replied to the tweet stating,



“I think there is a community, it’s just not fully representative of everyone with a stake in Bitcoin. Most holders are quiet and not too familiar with what’s going on. There’s people with 1000+ BTC and they don’t engage at all with discussion platforms, just lurk.”

Some Twitter users took it as an attack on Bitcoin investors and opposed Cobra’s stance. A user @CarstenBKK commented,

“Maybe I am lost in translation. What do you wanna tell us? That you are part of Bitcoin network of people owning/using it, but you are just disgusted by the idea, that the network is called community in the sense of direct human collaboration and affection to the groups ideals?”

Previously, Cobra had accused Twitter’s Jack Dorsey and Square Crypto of pandering to Bitcoin users, while also suggesting that the crypto project was merely a way to bring in more users for Dorsey’s CashApp. His tweet read,

“Gotta respect how hard @sqcrypto is pandering to Bitcoiners. Very clever how @Jack has embedded himself in the community; in return the community promotes @CashApp, which gives that service a small but dedicated and activist group of early users.”





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