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Question: In order for a cryptocurrency to be successful in 5 years time, it must have... (you can choose up to 30 options, but try to only choose the features you feel are most important)
Proof of Work Consensus Algorithm (all variants) - 21 (3.6%)
Proof of Stake Consensus Algorithm (all variants) - 12 (2%)
Large Network Effect (BTC, LTC ... arguable for a few other cryptos as well) - 21 (3.6%)
High Scalability - 37 (6.3%)
High Transaction Speeds - 29 (4.9%)
Reduced Blockchain Bloat - 12 (2%)
Voting - 13 (2.2%)
Scripting Languages - 5 (0.9%)
A large choice of exchanges - 10 (1.7%)
High liquidity - 26 (4.4%)
Privacy / Anonymity - 35 (6%)
A Bitcoin sidechain - 1 (0.2%)
Decentralized Exchange - 21 (3.6%)
In-Wallet Block Explorer - 5 (0.9%)
Smooth Block Reward Halvings - 10 (1.7%)
Demurrage - 1 (0.2%)
Ability to Make Recurring Payments - 7 (1.2%)
Decentralized Markets - 22 (3.7%)
Atomic Transactions - 5 (0.9%)
Automatic Stealth Addresses - 13 (2.2%)
Confidential Transactions - 18 (3.1%)
Ring Signatures - 18 (3.1%)
Telepods - 1 (0.2%)
Masternodes - 6 (1%)
Hireable Employees (a la witnesses in Bitshares) - 4 (0.7%)
Wide Merchant Acceptance - 12 (2%)
Market Pegged Assets (al la BITUSD, BITBTC, BITGOLD, NUBITS, etc.) - 7 (1.2%)
Multi-Signature Addresses (or Account Permission Systems) - 16 (2.7%)
File Storage - 4 (0.7%)
Sharedropped Cryptocurrencies - 1 (0.2%)
Cryptocurrencies Ran by Banks - 1 (0.2%)
Cryptocurrencies Ran by Governments - 1 (0.2%)
TOR/I2P Compatibility - 17 (2.9%)
Decentralized Application Stores/Browsers - 8 (1.4%)
Mobile Wallets - 24 (4.1%)
Solid Developers - 39 (6.6%)
Innovative Features - 23 (3.9%)
Fair Distribution - 36 (6.1%)
Supportive and Productive Community - 32 (5.5%)
Have a Target Market (or fill a niche) - 12 (2%)
Fungibility - 1 (0.2%)
Total Voters: 59

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Author Topic: In order for a cryptocurrency to be successful in 5 years time, it must have...  (Read 3856 times)
Marec4
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December 22, 2015, 10:38:42 AM
 #41

Good points guys. I will add:

Solid Developers
Innovative Features
Fair Distribution
Supportive and Productive Community

Feel free to change your vote at anytime.  Smiley

+1 to this comment.
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December 22, 2015, 02:52:11 PM
 #42

Nice poll.  

I would also maybe add:
good marketing
smart contracts (I guess that is what you mean by scripting language)
proof of existence
easy APIs
2FA

what about all these crap smart ledger, simple remote control, smart scam etc ect? no more than just useless scam ideas

bitcoin is already perfect as currency/money/cash

if people want all these useless craps they would build around bitcoin and use bitcoin as currency. it dont need to have endles scam coins to achieved any real honest project to better bitcoin cryptocurrency

I disagree. Currency is not the only thing that benefits from decentralization. If only the currency was decentralized, then everyone would be susceptible to being scammed while using centralized third party services. At the very least, most of the core services should also be decentralized (but I prefer everything be decentralized within reason if it provides a benefit.)

@benthach
Solid Point !

And the OP said 5 years.. so many of these features could put into BTC in that time frame.

I doubly disagree. Bitcoin can't even change its blocks size without everyone throwing everyone else under the bus and fights errupting. There is no way they implement many features the newer crypto currencies have and/or have implemented in the next 5 years simply due to politics.
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December 22, 2015, 08:16:51 PM
 #43

Nice poll.  

I would also maybe add:
good marketing
smart contracts (I guess that is what you mean by scripting language)
proof of existence
easy APIs
2FA

what about all these crap smart ledger, simple remote control, smart scam etc ect? no more than just useless scam ideas

bitcoin is already perfect as currency/money/cash

if people want all these useless craps they would build around bitcoin and use bitcoin as currency. it dont need to have endles scam coins to achieved any real honest project to better bitcoin cryptocurrency

I disagree. Currency is not the only thing that benefits from decentralization. If only the currency was decentralized, then everyone would be susceptible to being scammed while using centralized third party services. At the very least, most of the core services should also be decentralized (but I prefer everything be decentralized within reason if it provides a benefit.)

@benthach
Solid Point !

And the OP said 5 years.. so many of these features could put into BTC in that time frame.

I doubly disagree. Bitcoin can't even change its blocks size without everyone throwing everyone else under the bus and fights errupting. There is no way they implement many features the newer crypto currencies have and/or have implemented in the next 5 years simply due to politics.

people can build another wallet around bitcoin, it's decentralized. this wallet don't have to be another scam idea.

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December 22, 2015, 11:45:26 PM
 #44

Ideally, it has got all of your listed feature, but I think sidechains, a fair distribution, smart contacts and colored coins are to key to success.
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December 23, 2015, 12:18:27 AM
 #45

people can build another wallet around bitcoin, it's decentralized. this wallet don't have to be another scam idea.

So you expect people to work to improve Bitcoin for free? Good luck with that... in that case the technology would develop at a snails pace like Linux. People need to be compensated for spending long hours developing, and the easiest way to do that is by issuing their own cryptocurrencies. Otherwise, there is no point in them developing anything at all, and they might as well just go get a job. The people smart enough to decently program a decentralized technology can easily obtain a 100k/year salary, yet you expect them to work for free because Bitcoin is the "master race" cryptocurrency?
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December 23, 2015, 02:25:26 AM
 #46

Wow... A lot of options. I chose only 1 and that's mobile wallets. That's the most important IMO.


 
 
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Spoetnik
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December 23, 2015, 03:58:12 AM
 #47

people can build another wallet around bitcoin, it's decentralized. this wallet don't have to be another scam idea.

So you expect people to work to improve Bitcoin for free? Good luck with that... in that case the technology would develop at a snails pace like Linux. People need to be compensated for spending long hours developing, and the easiest way to do that is by issuing their own cryptocurrencies. Otherwise, there is no point in them developing anything at all, and they might as well just go get a job. The people smart enough to decently program a decentralized technology can easily obtain a 100k/year salary, yet you expect them to work for free because Bitcoin is the "master race" cryptocurrency?

They already do son Wink

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December 23, 2015, 01:49:36 PM
Last edit: December 23, 2015, 02:06:19 PM by CoinHoarder
 #48

people can build another wallet around bitcoin, it's decentralized. this wallet don't have to be another scam idea.

So you expect people to work to improve Bitcoin for free? Good luck with that... in that case the technology would develop at a snails pace like Linux. People need to be compensated for spending long hours developing, and the easiest way to do that is by issuing their own cryptocurrencies. Otherwise, there is no point in them developing anything at all, and they might as well just go get a job. The people smart enough to decently program a decentralized technology can easily obtain a 100k/year salary, yet you expect them to work for free because Bitcoin is the "master race" cryptocurrency?

They already do son Wink

That makes my point son. Using Bitcoin is like using Windows 95 compared to something like this: https://bitshares.openledger.info

You would rather use craptsy though and then cry on the forums about them scamming you...
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December 23, 2015, 03:57:36 PM
 #49

That makes my point son. Using Bitcoin is like using Windows 95 compared to something like this: https://bitshares.openledger.info

And using Nxt is like using Linux. Wink

But when you think about it, all the innovations in the Nxt core shows ya something about human nature - something that's not embittering. Here were a bunch of original stakeholders that didn't just get rich quick, they got rich suddenly - and that goaded them into buckling down and working for "free" while living off their windfall gains. It's nice to know that there are still folks who feel an obligation to build up a cryptocurrency that made them affluent. It's one of the (few?) cases where "giving back to the community" isn't motivated by a guilt complex or smarm.






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February 15, 2016, 07:59:00 PM
 #50

Fungability.

Many choices are redundant If you choose privacy then you should not have to choose the method of such. technologies to attain the same goal are a moving target.

“Bad men need nothing more to compass their ends, than that good men should look on and do nothing.”
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February 16, 2016, 03:17:03 AM
 #51

Fungability.

Many choices are redundant If you choose privacy then you should not have to choose the method of such. technologies to attain the same goal are a moving target.

Good points. I am surprised that I forgot to include fungibility as an option. Reminder: You can reset your vote if you would prefer some of the options that have been added since this poll was originally posted.

I agree some choices are redundant, such a privacy / anonymity, and then all of the different technologies that are used to implement it.
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February 16, 2016, 03:42:51 AM
 #52

I voted 25 out of 30 this is a good resources for me if I want to look what qualities i would want in a coin that I will be involved with,but the question is is there a coin who has at least 25 out 30 of this features and hat coins could these be..


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February 16, 2016, 04:38:56 AM
 #53

I voted 25 out of 30 this is a good resources for me if I want to look what qualities i would want in a coin that I will be involved with,but the question is is there a coin who has at least 25 out 30 of this features and hat coins could these be..
That is what I intended... for the qualities that most people look in cryptocurrencies to rise to the top of the survey, which would assist me while speculating in alternative cryptocurrencies.

I do not think there are any coins that could fit 25 of the 30+ features, but there are definitely some that have a lot more than others.
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November 09, 2017, 05:03:06 AM
 #54

Bump.

It is interesting how a lot of the currently top market capitalized cryptocurrencies match up with the poll's top results, most voting of which was done in late 2015 or during 2016.

Here are the results that have garnered greater than 3%:

Proof of Work Consensus Algorithm (all variants)   - 21 (3.6%)
Large Network Effect (BTC, LTC ... arguable for a few other cryptos as well)   - 21 (3.6%)
High Scalability   - 37 (6.3%)
High Transaction Speeds   - 29 (4.9%)
High liquidity   - 26 (4.4%)
Privacy / Anonymity   - 35 (6%)
Decentralized Exchange   - 21 (3.6%)
Decentralized Markets   - 22 (3.8%)
Confidential Transactions   - 18 (3.1%)
Ring Signatures   - 18 (3.1%)
Mobile Wallets   - 24 (4.1%)
Solid Developers   - 38 (6.5%)
Innovative Features   - 23 (3.9%)
Fair Distribution   - 36 (6.1%)
Supportive and Productive Community   - 32 (5.5%)

By scanning over the list, it is actually pretty cool to me how accurately this poll represents (and quasi-predicted) the currently top market capitalized cryptocurrencies.

Are there any not in the poll's options that you think should be considered? I was able to come up with many on my own, but I am interested in seeing what is suggested without swaying any opinions.

In addition/combination to the poll's results, I have compiled about 80 data points to analyze alternative cryptocurrencies. So, I know there's a lot more that can be considered...
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November 12, 2017, 08:04:47 PM
 #55



You can change your vote if a new option is added you would prefer more.  Grin
You can choose up to 30 options. Shocked
It's a number of things that will keep the coin from falling down to nothing worth spending on. It can have all those features but it is worth zero if you don't want it.
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November 12, 2017, 08:07:46 PM
 #56

too many options .. i've got confused  Shocked
cryptocurrency should become more mainstream, that will guarantte the success..
more developers, more science .. more everything will come with that
and i think that crypto is unstopable already
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November 12, 2017, 08:19:00 PM
 #57

solid developer as referring use of offers with the delivery of service to public audience,
that investors to gains with the notice of returns with the works of evaluation on following release of index with the unit of quantification,
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