Measuring the Growth of SmartCash Using the SmartStats Dashboard
One of the challenges with evaluating any blockchain project is assessing how well it is doing. Marketcap or price can be a very poor measurement because it can easily be manipulated. With market cap, coming up with the "circulating" supply for a coin with a treasury can be contentious. Sometimes CMC (Coin Market Cap) will decide to include a treasury, sometimes not, and the only thing you can be sure of is that it won't be consistent.
With SmartCash, they don't include the treasury in the circulating supply calculation. That's a huge number not being added to the overall calculation for ranking on CMC. So how can you measure a relative success of a coin through other means? With such a huge portion of the coin being locked up in the treasury this makes the overall market cap ranking not as helpful for comparison.
This is the idea behind multiple assessment frameworks, such as this Digital Asset Framework by CoinBase, or this Swiss risk assessment framework for tokens. They all try to address the same sort of thing: what's the team like, what's the product like, how is the community, how active is this, and what's the unique value here? Some of this is a little easier in the context of SmartCash because it is an actual working project and its use case is centered directly on being a currency for everyday transactions.
Introducing the SmartStats Dashboard
Available on SmartStats.cc, this dashboard provides regularly updated statistics measured from multiple sources. It covers the following areas to get a sense of what is happening in SmartCash beyond just the latest price movements:
- Overview of SmartCash: highlighted information from other pages
- Blockchain: block height, size, and blockchain related statistics (currently using the explorer)
- Mining: mining hash rates, difficulty for the proof of work system
- SmartNodes: information on the active node network
- Market: exchange information, like volume, price, and number of supported exchanges
- SmartRewards: eligible addresses, estimated payments, and total balance that will be distribuited
- SmartVoting: information on the voting of projects for the SmartCash Project Treasury
- Community: Discord and Telegram statistics
- Social Media: growth statistics for the official SmartCash media channels
- Github: latest commits to the code for SmartCash related projects
Coming soon will also be the following sections:
- Merchants: information regarding adoption by merchants and different payment gateways
- Transactions: transactions, speed, and fees for making payments with SmartCash
The idea here is that there are more metrics that matter to a coin than simply the market price. Other considerations to add would be more objective information on the team, some calculated statistics like Metcalfe's Law, and perhaps a bit more granular information about projects.
There are of course subjective factors, or some that are not time dependent, or also some ways to value one coin or another that can't be measured precisely. As more ideas come to mind they will be added.
What do you think of the SmartCash SmartStats Dashboard? Let us know!
Posted from my blog with SteemPress : https://smartcash.blockchainlibrary.org/2018/05/measuring-the-growth-of-smartcash-using-the-smartstats-dashboard/