Monday, September 13, 2021

A closer look at how shitty the top 20 is!

The top 10 post

LUNA: This coin couldn't decide whether to go by moon or earth, so its name is earth and its short is moon. Lame! Luna is a coin based on fiat pegged stablecoin that are stabilised by Luna itself. Dynamically stable through circularity! Yeah, I have no clue either.

UNI: As is typical for dex coins, it has an awful name, only outshone by its awful icon. Uniswap is a governance coin. Its main fame comes from making its airdrop owners very happy after price pump.

BUSD: A stablecoin pegged 1:1 to USD. Created by the largest exchange company. Despite being a Binance product it doesn't see as much hate as Tether. Then again BUSD doesn't see talk at all.

AVAX: Another awful name that gets its awful name status ignored cause there's many more awful names. The coin is... An umbrella platform for defi, applications, financial assets, trading and more. Turned on yet? Just wait till you read about the "cutting-edge technologies" It appears to be a solid coin whose description makes your brain hurt and/or put you to sleep.

LINK:...... "Chainlink is a blockchain abstraction layer that enables universally connected smart contracts. Through a decentralized oracle network, Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement."
In other words, chain link is buzzword central!

LTC: Litecoin is an offshoot of Bitcoin, created to be faster, cheaper to use and have more coins. Other than that it offers nothing. The silver to Bitcoin gold status, Litecoin is degrading fast. Too many newer coins that do better what litecoin never did well in the first place. Only legacy keeps it propped up.

BCH: Bitcoin cash is a fork of Bitcoin. Attempting to give it upgrades that the main bitcoin community never wanted so they there a temper tantrum to get their wishes. It has since survived only based on the bitcoin name. Just like with litecoin, many others do much better what BCH never did well in the first place.

ALGO: Algorand is a PoS cryptocurrency with a byzantine agreement protocol. Which, I'll admit, sound pretty epic. Be right back, fomoing in! Algo is meant to be a fast and efficient smart contract platform that seems largely unused (like pretty much all smart contract platforms).

WBTC: Bitcoin in a wrapper so it can be exchanged on the Ethereum blockchain. Like... Basically Robin Hood tech! Pay and not have the real deal!

ICP: Internet Computer. A name so awful it makes you want to throw up your intestines, eat them and throw them up again. This highly centralised cryptocurrency needs you to own a data center to become a validator


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