Litecoin and EOS fighting for top 5 spot.

Literally just two days ago EOS had surpassed Litecoin in market cap to claim the fifth spot on Coin Market Cap. Since then though Litecoin has reclaimed that spot but isn't seating comfortably by any means as one bad day could see it slip to 6th spot again. It was this occurence which sparked my interest and led to me writing this post.

I love both these projects because I believe they have a great value to add in the cryptocurrency space and as the right vehicles to move cryptos and blockchain technology into the mainstream. They each have the necessary infrastructure in place to accommodate a mass market adoption and do it efficiently so without any major problems.

Why I think it will be interesting to see which one can safely claim the top 5 spot on Coin Market Cap is because both these projects have something to prove within that top 5. They are not necessarily competing with each other at least not in the grand scheme of things. The one thing these two projects have in common is that they are currently seen as the alternatives in their respective trades.

Litecoin is placed second to Bitcoin Cash as the day-to-day currency of exchange for goods and services in the future as they both claim to do that well whilst offering fast and cheap transactions. Other than Bitcoin of course which has been labeled as the gold of cryptocurrencies i.e a store of value rather than a means of exchange. Both Litecoin and BCash where created to solve these very inefficiencies that Bitcoin has.

On the other spectrum of things, EOS comes second to the queen of smart-contracts, Ethereum. Ethereum finds its self only second to Bitcoin in terms of market capitalization as the most active blockchain. It is comfortably ahead in second place right now because it was the first blockchain of its kind and has amassed a great number of projects under its blockchain.

And then comes EOS which was the first and only real threat to Ethereum's throne as queen of smart-contracts, promising a faster, safer and more scalable blockchain than Ethereum. So far they've been able to back-up their claims but we're still yet to see whether EOS's blockchain will be able to handle the traffic and pressure once its mainnet is launched in June this year.

You can learn more about the fundamental differences about how these two smart-contract blockchains operate differently from each other on this post I wrote a few days ago - Will EOS Be Bigger Than Ethereum? On it, I provide the background of the projects and why their differing ideas are what makes this race even more interesting.

Coming back to the 5th spot fight between Litecoin and EOS I have to point out that the former has been in the top 5 for over four years now as the project was launched on CMC back in 2013. Whilst EOS is still the new kid on the block having begun its ICO in June last year and it is yet to launch its mainnet. It has definitely done well to get to the top 10 but as I mentioned before, the real test will come once companies start building their projects on top of its blockchain. When more people transact daily on its blockchain then the real value will come out.

Conclusion

I have no doubt that Litecoin will continue to grow in value and market cap and perhaps even surpass Bitcoin Cash in what has come to be known as 'The Flippening' in the crypto space. In terms of Litecoin vs. EOS, I do think EOS is going to win this particular fight and it won't even be a challenge IMO. My reasoning is simple - blockchains that are capable of smart-contracts and having the ability to host other potentially big projects on them will win this race for the foreseeable future.

This is simply because it's not a fair fight as it will be Litecoin vs. EOS... and the many other projects supporting it by running its blockchain for transactions between millions of users on a daily basis. Plus I have no doubt that @dantheman can pull this one off after all, he did bless us all with Steem and the Steemit platform amongst other things.

I hope you enjoyed reading this post. Enjoy the rest of your day!

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