BCH Is An A-Class Crypto for Auditability

Crypto research group Coin Metrics recently released issue 30 of its “State of the Network” series, which ranks crypto assets by auditability. Taking into account node operation, synchronization, normal operation, code audit and extraction of ledger data, the top 10 cryptocurrencies by market cap were ranked. These were also ranked on ease of ledger reconstruction, and in both categories bitcoin cash emerged as a top-ranked, grade A crypto.

Also Read: Crypto Experts Give Their Top Predictions for 2020

Methodology

Released on Tuesday, the Coin Metrics report goes into great detail describing the methodology for its rankings. “As well as running nodes for most major crypto assets, we also extract raw blockchain data from them to rebuild the asset’s ledger independently. This allows us to compute many of our metrics (for example, realized capitalization) but also to more deeply analyze each asset,” the post details.

Rating node operation, synchronization, normal operation, auditability of code, and extractability of ledger data, Coin Metrics ranks the top ten market cap cryptos on their overall soundness and transparency. For example, citing the Binance chain’s code the report reads: “In that dimension, of the more than 35 unique nodes that Coin Metrics manages, one is unique: Binance Chain. It’s the only one whose source code is not available: only signed binaries are provided to would-be node maintainers.”

Regarding difficulty of synchronization and EOS, it is noted that “synchronizing a full archive EOS node took more than one month and required a machine with terabytes of NVMe SSDs, some of the fastest storage available.”

BCH Is An A-Class Crypto for Auditability
Auditability rankings. Source: https://coinmetrics.substack.com/p/coin-metrics-state-of-the-network-37f

Bitcoin, bitcoin cash, litecoin and bitcoin SV all received an A rating with the aforementioned auditability dimensions considered. Ethereum got a B “Since historical ledger auditing for…

Source Link