INSTAR Blockchain Daily Operations Now Outrank WAVES, LTC, NANO, And BCH Combined
Bitcoin’s success saw the advent of blockchain-based platforms offering digital solutions to various problems facing the world. These decentralized platforms came with promising claims that spurred the market and investors. Fast-forward to 2019, things are not as promising as they seemed back in 2017 when the market was at its peak.
Very few platforms have met their promises with most closing shop and leaving the industry altogether. Insights Network is one of the platforms that keep on going strong despite market volatility and unpredictability. Its success can be attributed to its constant relevant innovations that keep their user base growing. This article explores the performance of Insights Network in comparison to other performing platforms and why INSTAR, a product of Insights Network, is the way to go.
For a platform that started its operations late in 2018, Insights Network is defying the odds. The platform has seen a decent amount of growth ever since it was released. Various performance trackers are giving positive figures, some even indicating that the platform performs better than some previously established and popular platforms.
Block’tivity Rankings Prove Instar Is In A Boom Period
Earlier in the year, INSTAR was able to feature in Blocktivity’s top ten lists, peaking at position nine. It has lately fallen to twelfth; however, it is among the top performing platforms on Blocktivity’s list.
The list portrays the general performance of a platform based on data it collects on the actual usage of the platform by their user base. The list is important as it clears up hype and FUD, leaving only the actual performance of a platform as a point of judgment.
Above INSTAR on the list are some of the established decentralized industry players such as EOS, TRX, BTC, and ETH. These control large portions of the market, and their activity is always expected to be higher than INSTAR’s based on the nature of their operations
Below INSTAR are the likes of WAVES, LTC, NANO and BCH. These are platforms that deal with financial solutions and are generally expected to command large followings similar to BTC, which would likely translate to more activity. However, they fall behind INSTAR, which deals with market research solutions.
Depending on a viewer’s perspective, it may also be that INSTAR is performing well beyond expectations. According to its platform, INSTAR has over 100,000 verified contributors, and out of the contributors, over 180,000 transactions are made per day, a clear sign of an active user base.
When compared to INSTAR, Nano and BCH seem to be underperforming. Nano, particularly, has shallow activity compared to the two, which shows a disconnect between the community and the services they offer. BCH is performing relatively well. Its activity rate is over 40,000 transactions, which are satisfactory.
In terms of the AVI (Activity Valuation Index), which compares market cap and activity on individual platforms, INSTAR (20,660) leads by a wide margin which further cements the fact that INSTAR users are more engaged in their platform compared to BCH (1) and NANO (8).
The charts indicate a general decline in value and market cap of all the platforms listed. This has been the general trend of most coins in the cryptocurrency market. Firstly, INSTAR lost 92%, from ~$0.14 to $0.01. Secondly, BCH lost over 90% in value from its peak of $4,091 to its current $378. Nano finishes the list losing over 95% of its value, from ~$435 to $1.53. This reveals the status of the market.
Similarly, market cap and the trading volume decreased significantly for all the platforms. These were as a direct result of reducing value.
With a decreasing market, keeping users active in these platforms was crucial in ensuring the continuity of the platforms. Among the strategies employed by various firms was “earn free crypto.” Users would be rewarded with free cryptocurrency for actively participating in platform activities.
INSTAR rolled out its free crypto plan by rewarding its users for participating in activities on the platform. Their strategy seems to work as its platform grew significantly upon the announcement of their “earn free crypto” program. INSTAR users are rewarded for completing surveys on the platform, among other activities.
It seems that the market is more responsive to “free crypto” as the strategies of Nano and BCH both failed to reach reasonable targets. Their low transaction rate, as a marketing strategy, seemed not to work with their target market.
With rewards being provided for platform participation, INSTAR will likely continue to grow.
We All Love Free Crypto
“Earn free crypto.” Just from seeing that, an investor may quickly think about the value and the possible gains the cryptocurrency can make within a period. This is part of the appeal of earning free cryptocurrency.
Most investors see it as a stepping stone into the cryptocurrency community without necessarily having to invest any money in any cryptocurrency. Buy low sell high has always been the investor motto, but platforms are now giving crypto for free. This may be the reason why INSTAR’s platform is growing.
For Nano and BCH, investors have to involve their money to gain some interest in the future, which is also not guaranteed. Therefore, the “earn free crypto” reward program becomes attractive as it involves no risk and has the possibility of gains in the future.
INSTAR Remains At The Peak Of Continuing Progression
INSTAR keeps on evolving its platform frequently to keep up with updated demands by its user base.
Firstly, INSTAR recently partnered with Pollfish and Cint to provide their user base with a broader variety of surveys to participate in. This increases their chances of earning freer crypto while participating in surveys they find interesting.
Secondly, INSTAR recently migrated to EOS. The EOS protocol improves the speed of the platform; thus, users get a better experience while using INSTAR. The EOS move also meant that the INSTAR token would cease being an ERC-20 token.
Lastly, to continue their “earn free crypto” program, INSTAR launched an exclusive opportunity for its users in India to earn free crypto. The strategy could be part of INSTAR’s global expansion plan.
Also worth noting is that the INSTAR team will release a newly updated whitepaper to describe how Block Producer voting will work. The 21 blocks producers are dedicated Insights Network INSTAR token holders who will vote on the future evolution of the platform.