I’ve been hearing a lot about blockchains and cryptocurrencies and I’m trying to decode all the jargon. Specifically, I’m really lost when it comes to identifying what a popular blockchain would be. Not necessarily the ones only used for cryptocurrencies, but in other sectors as well. I understand that blockchains are digital ledgers used to record transactions, but I’m not sure when we call one “popular”.
From what I gather, the popularity of a blockchain could be determined by the user base or the applications it supports? I might be wrong, so I’d appreciate it if you could shed some light on it. Are there certain factors that we need to consider when saying that a blockchain is more popular than others? Such as security, speed, size of the network?
Also, could you give specific examples of popular blockchains and a brief explanation of why they are considered as such? Is it because they are widely used by investors or is there more to it? For instance, I’ve heard Ethereum cited a lot, but I’d like to understand why it is preferred over others.
Lastly, how do these popular blockchains impact the cryptocurrency market as a whole? I assume their performance may affect the value and adoption rate of cryptocurrencies. By understanding this, I hope to make a more informed decision before getting into the crypto game myself.