Ethereum rules crypto tokens: 91% of all tokens are Ethereum ERC20 tokens 😎
I found another really interesting article on Medium. It is known that many of the top crypto's are actually Ethereum-based ERC20 tokens, but an Ethereum enthusiast has actually collected data to support these claims. It turns out that 91% of the entire market cap of all cryptocurrency tokens combined belongs to the Ethereum-based ERC20 tokens.
THE DATA
The data was collected over a six month period by looking at the total market cap of all cryptocurrency tokens and comparing that to the total market cap of all Ethereum based tokens. The results are in the graph below:
The graph shows an increase from 73.8% to 91.2%, with the market cap of Ethereum based tokens now at over $62 billion (up from $2.9 billion). Ethereum has clearly established itself as the go-to platform for tokens and ICO's in 2017.
I also found this image which shows similar data, but from earlier in 2017 (up to about the first 'explosion' in March):
TOKEN IS CRYPTO, BUT NOT ALL CRYPTO IS A TOKEN
One should not misunderstand the difference between tokens and cryptocurrencies themselves. Tokens are slightly different, in the fact that they are not their own blockchain but rather built on top of another blockchain. Ethereum as a platform allows many other cryptocurrencies to use it as a base.A non-token cryptocurrency, on the other hand, has it's own blockchain architecture on which it relies. As such, when indexing all the crypto tokens many popular blockchains are not counted as these are not tokens on another blockchain. Bitcoin, Litecoin, IOTA, NEO, NEM, are some examples of non-token crypto's, and these are not weighed in this comparison.
It does, however, include many well known cryptocurrencies like: EOS, BAT, OMG, BNB, 0x, WTC, and many more which are all ERC20 tokens.
COMPARISON SLIGHTLY SLANTED
The comparison is accurate and the numbers are probably correct, but it's a somewhat unfair comparison to make as Ethereum has had first mover advantage for the better part of a year. Now, NEO is making leaps and catching up at a rapid pace, both in the amount of ICO's being released but also with some of them making it into the top 100 cryptocurrency list (such as DeepBrainChain and Red Pulse). Stratis is also close to having the first two ICO's on it's platform. Komodo is launching dICO's (decentralized ICO's) and many more platforms are joining the race. 2018 is looking to be the first year where Ethereum gets some actual competition. Still, despite the potential of the upcomers, one cannot ignore the massive head start and adoption that Ethereum has.
Click here to read the article on Medium
Ethereum is great
Between Cryptokitties and now Cryptokims, let's hope they move to NEM.
http://www.kimjongcrypto.com/#
Great post mate. I'm resteeming this one.
The first mover advantage is huge for ETH and I think they only come unstuck if they have scalability issues so keep an eye on those fees.
Thanks!!!
Yes I think you're right, their advtantage is huge! And any scalability issues, I am sure a runner-up will run into as well once their network gets used as much as ETH's
Agreed. I just noticed you hit 1000 followers too and also started in July 2017. Seems like we are on the same page in more than 1 way :)
Yes, you're right! I just passed it, hooray! It has been a long road, but I'm there! Now on to 2K followers!
Seems we are indeed growing at the same pace, but you must tell me your secrets! Even though we have as many followers, you seem to do a lot better than me, with much better earnings on your posts! :)
Well I can't give away all my secrets, but one of them is getting involved with a couple of communities. It's not just followers you need but a network of supporters too.
Yes, I've noticed that too. Most of my support comes from a select few people! And since I have started getting to 'know' some people through the community things have been doing a lot better.
Do you have any suggestions on which communities are nice to join? I'm part of the Qurator project now and know of several others, but it's kind of a jungle out there!
I am a member of #teamaustralia and #steemsilvergold but they might not suit you. Been wondering if there is a crypto writer/analyst group that would be worth getting into, or even starting up.
I don't think there is one for crypto yet. Starting one up would be smart perhaps, but I don't have the time. Just started a new job!
Wonderful post thanks
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