Fusion Market Analysis - March 31, 2023
Fusion Market Analysis
Blockchain is a digital ledger distributed across a network rather than stored in one place.?
All participants verify the integrity of the ledger.
Once recorded on a blockchain, data can’t be altered or deleted without the consensus of the network.
This makes it an extremely secure and tamper-proof way of storing and sharing data securely.
Everyone has access to the exact same ledger.
Transactions can be verified and processed quickly, precisely & accurately.
Secure: difficult to manipulate.?
Transparent: transactions are visible.?
Efficient: faster & lower cost.
Each cryptocurrency has its own blockchain and there are many variations of blockchains available to use for different applications.?
In this MA we will cover 10 types of blockchains with an example of a token for each along with insights from our new Best/Worst Trading Hours module.?
Public Blockchain
Open and decentralized networks that anyone can join and participate in the consensus process.?
Transparent and all transactions are publicly visible on the network.?
Bitcoin was the first public blockchain.
A quick glance at Fusion’s Best/Worst Trading hour module shows over the last 5 days from 1 - 2PM EST BTC lost an average of -1.14%
Private Blockchain
Restricted and only accessible to specific participants granted permission to the network.?
These blockchains are often used in enterprises for internal purposes like supply chain management.?
Quorum is an enterprise-focused private version of the Ethereum blockchain designed to provide greater privacy and performance for business applications.
11PM EST on Mar 29th into the 30th had a maximum positive return of 2.47% with ETH
Consortium Blockchain
Maintained by a group of organizations that work together to maintain the network.?
XRP uses Ripple Protocol Consensus Algorithm (RPCA) which is optimized for speed and efficiency to provide fast and low-cost cross-border payment solutions and acts as a bridge currency between different fiats.
XRP from 6 - 7PM EST the past 5 days returned an average of 1.38%
Hybrid Blockchain
A combination of public and private blockchains that offer greater flexibility for access & data privacy.
Participants have access to a private blockchain for sensitive data while using a public blockchain for other data.?
Peercoin uses both PoS and PoW to secure its network and validate transactions.
Mar 28th 8 - 9 AM PPC had a maximum positive return of 4.69%, the average return around this time for the past days is 1.00% with 25% as positive occurrences
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Sidechain
Connected to another blockchain, called the mainchain, in order to enable new features, functionalities, reduce congestion & faster transactions.
Horizen's Sidechain SDK enables developers to create customized sidechains that can interoperate with the Horizen mainchain increased scalability, privacy, and flexibility for applications built on the platform.
ZEN total volume rose from 522 on Mar 27th to 9,197 on Mar 29th and every day in between from 4 - 5 PM EST had 100% positive occurrences
Directed Acyclic Graph (DAG)
Not with blocks but instead linking transactions together in a web-like structure, this approach enables faster and more scalable transactions.
IOTA is a platform designed to facilitate secure and fee-less transactions between devices on the IoT network the token called MIOTA is a unit of account and a means of value transfer on their network.
MIOTA had an average of -0.57% returns from 7 - 8 AM EST these past days
Federated Blockchain
Controlled by a group of pre-selected nodes or validators and allows more scalability & faster transaction times, but at the expense of decentralization.?
Syscoin is a blockchain platform that enables fast, secure, and low-cost peer-to-peer transactions, as well as the creation and exchange of custom digital assets and tokens.
SYS had a 3.24% max positive gain from 11PM on Mar 29th into the 30th and 0.88% on at the same time for the past few days
Proof of Stake (PoS) Blockchain
PoS rely on the stake of validators in the network to validate transactions and are selected based on the amount of crypto they hold.
Polkadot is a PoS multi-chain platform that enables interoperability between different blockchains, allowing them to exchange data and assets with each other in a secure and scalable way.
DOT from 6 - 10 AM EST for the past 5 days has had a negative average return from -0.05% to -0.70%
Proof of Burn (PoB) Blockchain
PoB requires destroying crypto to participate in the consensus process, burning tokens demonstrates commitment to the network and prevents centralization.?
Counterparty is a peer-to-peer PoB platform that enables the creation of custom tokens and smart contracts on the Bitcoin blockchain.
XCP on average returned 2.80% from 5 - 6 AM EST with the maximum positive return on Mar 30th at 10.36%?
Sharding Blockchain
Splitting data into smaller subsets, shards, to be processed in parallel. More scalability and faster transaction times.?
Elrond uses adaptive state sharding, secure proof-of-stake consensus, and advanced smart contract functionality to enable fast and scalable dApps.
EGLD had maximum positive returns at 8PM EST on Mar 29.
Blockchain is constantly evolving with different variations each with its own unique features and advantages.?
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