It can be difficult to gain an accurate analysis on any cryptocurrency due to individual biases and differences of opinion. For this reason, a cryptocurrency comparison matrix has emerged on Google sheets that seems to compare different cryptocurrencies objectively. The sheet is titled “Privacy Coin Matrix” and is available here. The focus is on privacy and distribution.
The comprehensive sheet presents metrics including general specifications, blockchain, trading, supply, economics, network, scaling, wallets, community support, and privacy features. Unfortunately, it is not the most user-friendly of documents. Users will need to have an eye for Excel, and it does not seem geared towards regular investors. However, intuitive and user-friendly dashboards are to be expected shortly.
Nineteen cryptocurrencies are currently listed, and the primary focus of the sheet is privacy features, though it reports on far more metrics. According to the document, Dash seems to have far fewer privacy features than Monero and zCash, starkly illustrated by the fact that they lie above and below on the sheet. Dash fares quite poorly against the majority of other privacy coins, despite having the second largest market capitalization of all privacy-based coins, with Monero being ahead.
However, Dash and Bitcoin are the only two coins where the top 100 addresses own less than 20% of the total supply. They are also the lowest in terms of the top 25 addresses, which is a strong indication of decentralization at the distribution level for these two coins. Bitcoin ties for last in terms of scalability, at seven transactions per second.
Navcoin and PIVX stand out in the list. They have the highest transactions per second, with Navcoin boasting nearly double that of PIVX. Navcoin also has the second lowest daily inflation. The largest miners own less than 8% of the network for both coins, and they are two of three coins where over 100 entities control 51% of the network. The other coin is Phore, which also seems very robust. The top 100 Navcoin addresses own 73% of the total supply, an inexcusably large percentage. Additionally, it lacks some key privacy features. For these reasons, the winner across the board is arguably PIVX.
For those interested in gaining valuable information on cryptocurrencies aside from biased channels, this type of spreadsheet can prove invaluable, and this type of open source project can help to analyze an industry that is teeming with subjective opinions objectively. The document is protected with a Creative Commons license, and more information can be found under the Monero subreddit or its own official subreddit. The project is ongoing, and derivatives are to be integrated in the future when the campaign is fully operational.
Digital Nomad with an interest in Zen and Blockchain technology.
Law graduate with 3 years experience as a consultant in the capital markets industry and 4 years experience freelancing on UpWork as a Creative Writer.