The Current State of Crypto
In 2021 news about cryptocurrency has been dominated by meme coins. It is without a doubt that cryptos 2021 bull run has been thanks to the hype around coins with zero utility besides the ability to rapidly shoot up in value. The hype surrounding coins with actual utlity has been disappointingly low in 2021.
The current narrative of the largest coins is that bitcoin is going to change financial infrastructure and keep governments from taking our freedom. Ethereum is going to be the backbone for everything from the internet, to art, to the mortgage on your house. The rest of the top 10 (and most of the top 100) coins are either smart contract platforms with little community gunning for Ethereum’s spot or meme coins promising valuations that challenge the wealth of the worlds economy.
Return of the Utility
The coin I want to talk about is nano ($xno). As of writing it is ranked #169 by market capitalization. Nano does one thing and executes on it perfectly: being a currency.
- In order to be used for transactions a coin needs to be transacted in seconds. Above is all the coins listed on Kraken along with the confirmation time. Confirmation time is the amount of time that Kraken recommends waiting before you can be sure that a transaction has been cemented by the blockchain and can not be reversed.
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