Simon Dedic has something to say about the qualification of cryptomoney. The co-founder of the cryptanalysis firm Blockfyre specifically suggests that five of the top ten cryptomonies rated by market capitalization do not deserve their place.
In a June 21 tweet, Dedic said, „XRP, Bitcoin Cash, Bitcoin SV, Litecoin and EOS are in no way in the Top 10 Krypton currencies“ and said he „can’t wait“ until other assets replace them.
Instead of simply causing the controversy on Twitter and escaping, Dedic stayed to respond to the comments. Cointelegraph asked him to explain his reasoning.
VeChain (VET) and Zilliqa (ZIL) point to high resistance to continue their upward trend
„A better Bitcoin“
Although Bitcoin Cash (BCH), Bitcoin SV (BSV) and Litecoin (LTC) are trying to outdo Bitcoin (BTC), Dedic believes that Lightning Network and other solutions to BTC’s scalability will end the dispute. „There’s no need for better Bitcoin,“ he said.
Similarly, Dedic says EOS is unnecessary as a centralized version of Ethereum (ETH). He also thinks EOS achieved „very impressive“ results after a rather large Initial Offer of Coins (ICO).
In praising the adoption achieved by Ripple (XRP), Dedic considers that the centralized nature of XRP is contrary to the goal of cryptographic space. He then criticized the release of billions of tokens on the market as its main source of income.
Ripple unlocks half a billion tokens from the repository while the price of XRP has risen 26% so far this year
So, which of the more recent cryptomonies deserves a place in the top ten, according to Dedic, and why?
With an adoption rate „as expected,“ Dedic says VeChain leads the market in one of the most important blockchain applications: the supply chain. Dedic also believes that the level of adoption of Chainlink is well deserved.
„Reliable and unbiased third-party data is becoming increasingly important as this market grows, especially with the rapid increase of DeFi. Chainlink does an excellent job of providing reliable market data. „
Dash sees a 100% increase in commercial payments thanks to its adoption in Latin America
While most of his funds are in Ethereum, Dedic says Tezos is also a fairly promising infrastructure project. In particular, he believes its structure is better designed than ETH’s.
Interoperability will be a big step towards the main adoption of blockchain. Dedic believes that the activation of Cosmos for cross-chain transactions and Tendermint’s technology will contribute a lot in the development of cryptography.
That leaves one more place in the Top 10 of Dedic’s „worthy“ crypto currencies, but maybe it’s the best. At least that way, everyone can fill the void with their favorite altcoin.