Let’s rank the top 10 coins from worst to best, because most of the bad coins are in there. Here, they are sorted by market cap.
- Bitcoin Cash
Now let’s rank them from worst to best.
Tron has a plagiarized whitepaper, for which they even had to apologize.
It claims to be the better Ethereum, because it can do 300 times more transactions than Ethereum. However, it doesn’t mention that it uses PoS, which suffers from strong centralization of voting power among the rich, large companies, institutions, governments, thus defeating the whole point of the blockchain.
Tron is sketchy all over the place and thus the worst crypto within the top 10.
Litecoin always does what Bitcoin does, but there is nothing innovative about Litecoin.
It is like the kid that copies everything that his best friend does, but doesn’t have any personality himself.
Furthermore, Litecoin’s founder Charlie Lee has sold all of his Litecoin in the last bull run. Need anything else?
- EOS, Stellar, Ripple, Cardano
These coins all have high scalability, but only because they use only a limited number of nodes for consensus. This isn’t decentralized at all. EOS lets the community select the nodes at least, but it also still only uses 21 nodes for consensus. Stellar and Ripple have a few more nodes, but there are still rules as to who is allowed to participate in consensus. This is called being permissioned and non-trustless. I wrote more about why that is very bad in point number 3 .
This is not good design and very centralized.
Cardano uses a variation of PoS, which allows Pool Staking, so that smaller nodes can bond together and “prevent” centralization. However, then you have the same pool problem again like with PoW, which is centralization again.
- Bitcoin, Bitcoin Cash
They are both pure PoW coins and those suffer heavily from having very slow transactions times, low scalability, fees, being very wasteful and extremely centralized through 3 mining pools having 51% of the voting power already.
As long as this doesn’t change the tech for PoW coins is very bad. However, that does not seem to matter in the short-term, because institutional investors seem to only buy Bitcoin, so Bitcoin might be the coin that goes up first in the next bull run with altcoins following Bitcoin a few weeks later.
Bitcoin only has a Lightning Network coming up and seems very slow to implement necessary changes swiftly. This is because, there are hundreds of developers working on it and every changes needs approval by them. Once that is done, they need approval from the Bitcoin community, which consists of millions of people. Can you innovate well this way? No.
I ranked Ethereum above Bitcoin, because it has a new consensus algorithm coming up with Casper, a Lightning Network with Raiden, a scalability improvement for Smart Contracts with Plasma and and also Sharding, which improves all of the above mentioned flaws of PoW.
This is the winner out of the top 10. It already has improved upon all of the flaws of PoW and is near infinitely scalable, near infinitely decentralized, has near instant transactions, minimal energy use and has zero fees. Currently, IOTA is still centralized through their coordinator, because the network is vulnerable while it’s small. This is the case for all coins, which is why Verge, Bitcoin Diamond and a couple of more were attacked. IOTA decided to do something against it and put in the coordinator, because it’s simply unnecessary to leave the network unprotected while it’s small. However, the coordinator is not required once the network is bigger, so it’s irrelevant if you want to find a technology that can be used by millions of people per day.