The score itself is a time-weighted moving average of the FCAS for the members of the top 25. To be included in the top 25, a project must be ranked inside the top 25 FCAS ratings for at least 40 days
The approach allows for an entirely algorithmic definition, and avoids the many pitfalls of managing manual inclusion/exclusion from the list.
During the month of January, Overall Industry Health remained consistent around 840-points. The same projects are coming in and out of the FCAS 25, competing with new upgrades, applications and experiences to stay at the top.
Members of the FCAS 25 are reevaluated each month and must be ranked within the top 25 for at least 40 days to qualify. Today, a new set of members was released with a number of significant changes. This month, Waves (WAVES) and Status (SNT) are back after dropping off earlier this year. Kyber Network (KNC) and OmiseGO (OMG) fell off.
Launched in 2016, Waves is an open-source blockchain that is carving a niche for itself by focusing on mass adoption through simplicity. The platform offers many powerful tools and browser extensions for users to build without diving deep into blockchain technology, from creating customized tokens (for example to run crowdfunds or create a simple loyalty token for their business) and transfer them on decentralized exchanges, to building an open economy for in-game assets for instance. Its smart contract programming language, Ride, also provides a more straightforward way for developers to create and manage dApps (decentralized applications).
WAVES FCAS has been fluctuating but steadily increasing since the end of 2019 (up 18-points from December 31st 2019 to January 31st 2020) with an important spike in User Activity (up 5.97% over the same time period). This coincides with the launch of Waves.Exchange, an upgrade to its trading exchange that now offers market orders, an optimized client, a “tick size” feature, support for USDT and native SegWit addresses. With this upgrade, Waves is driving mainstream adoption by incorporating tools that are common to stockbrokers on the stock market. As the team continues to make vast improvements on the network’s speed and usability we can expect to keep seeing WAVES in the FCAS 25 list.
Status (SNT) is an open source messaging platform and crypto wallet built to interact with Ethereum applications and cryptocurrencies. Being a Web3 application, Status is truly decentralized and allows for the secure transaction of messages, identities, and funds. The Status Network Token (SNT) is a utility token that fuels a decentralized push notification market, governance of the Status client, along with curation of user-generated content on the network.
Early January the Status team announced the upcoming release of v1 of their app (until now Status was still in the beta testing phase), emphasizing its important security and anonymity features. Being built on Ethereum, the announcement received immediate reaction from one of the largest blockchain communities, which is reflected in SNT’s User Activity increasing 6.11% over the month of January.
We are seeing a focus on ease-to-use as the key to driving blockchain projects’ network growth. Blockchain is a very powerful technology with an extensive amount of potential use-cases, but a major barrier to adoption remains the complexity of network operations. The lower the costs and complexity of implementation, combined with better applications, better UX, and better experiences, will lead to more and more people experimenting with these platforms.