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Financial Sponsorship
Akhil edited this page Dec 31, 2024
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Open Collective - OSC (this is work in progress)
Crypto via kivach.org - https://giveth.io/
Research on crypto
| Rank | Cryptocurrency | Market Cap (2024) | Recommended Network | Alternate Networks | Reasoning for Network Choice |
|---|---|---|---|---|---|
| 1 | Bitcoin (BTC) | $2.1 Trillion | Bitcoin Network | None | Native network; most secure and liquid for Bitcoin transactions. |
| 2 | Ethereum (ETH) | $481 Billion | Ethereum | Polygon, Arbitrum, Optimism | Native network; essential for DeFi, NFTs, and smart contracts. Layer 2 solutions (Polygon, etc.) offer lower fees and faster transactions. |
| 3 | Tether (USDT) | $139 Billion | TRON (TRC-20) | Ethereum (ERC-20), BNB Chain (BEP-20), Solana, Avalanche | TRON is chosen for low fees and fast transactions. Ethereum is widely used in DeFi but has higher fees. |
| 4 | Binance Coin (BNB) | $104 Billion | BNB Chain | Ethereum (ERC-20) | Native network; low fees and optimized for Binance ecosystem use cases. |
| 5 | XRP (XRP) | $133 Billion | XRP Ledger | None | Native network; designed specifically for fast and low-cost cross-border payments. |
| 6 | USD Coin (USDC) | $43 Billion | Ethereum (ERC-20) | TRON (TRC-20), Solana, Polygon, Avalanche, BNB Chain (BEP-20) | Ethereum is preferred for DeFi applications. TRON offers lower fees for transfers. |
| 7 | Solana (SOL) | $94 Billion | Solana | None | Native network; high transaction speed and low fees for DeFi and NFTs. |
| 8 | Dogecoin (DOGE) | $59 Billion | Dogecoin Network | None | Native network; simple and widely supported for payments and tipping. |
| 9 | Cardano (ADA) | $33 Billion | Cardano | None | Native network; optimized for scalability and sustainability in dApps. |
| 10 | Polygon (POL) | $4.4 Billion | Polygon | Ethereum (ERC-20), BNB Chain (BEP-20) | Native network; best for scaling Ethereum with low fees and fast transactions. |
The market cap highlights the relative size and liquidity of each cryptocurrency, emphasizing their importance in the market.
- Bitcoin: Bitcoin Network remains the only viable option due to its native nature.
- Ethereum: While Layer 2 solutions like Polygon or Arbitrum reduce costs and improve scalability, Ethereum remains dominant in DeFi.
- USDT: TRON is preferred due to its affordability for frequent transfers, while Ethereum is better suited for DeFi applications.
- USDC: Similar to USDT but more focused on DeFi, making Ethereum the primary choice.
Multi-network tokens like USDT, USDC, and Polygon have alternate networks listed to provide flexibility based on user needs.
This table provides a comprehensive overview of the most-used cryptocurrencies by liquidity, market cap, and optimal networks for usage across different scenarios.
| Cryptocurrency | Market Cap (USD) | Liquidity (USD) |
|---|---|---|
| Base | 990,700,000,006 | 38,407 |
| Polygon zkEVM | 14,019,738 | 340,008 |